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$200K milestone payment received; DROSRITE(TM) aluminum recovery system ready to be installed
$200K milestone payment received; DROSRITE(TM) aluminum recovery system ready to be instal...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\n\n$200K milestone payment received; DROSRITE(TM) aluminum recovery system ready to be installed\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n$200K milestone payment received; DROSRITE(TM) aluminum recovery system ready to be installed\nCanada NewsWire\nMONTREAL, Jan 11, 2016\n\n\n\n\n\n\nMONTREAL, Jan 11, 2016 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® clean-tech company (the \"Company\" or \"PyroGenesis\") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announced today that its DROSRITETM Furnace System (the \"System\" or \"DROSRITETM\") has successfully passed inspection by its client, a North American automobile parts manufacturer (the \"Client\"), and has been shipped for installation at the Client's facilities. A milestone payment of $203,700 has been received by PyroGenesis. The Client wishes to remain confidential for competitive reasons.\n\nDROSRITE™ is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. DROSRITE™ avoids costly loss of metal while reducing a smelter's carbon footprint and energy consumption, providing an impressive return on investment. PyroGenesis' patented DROSRITE™ process increases aluminum alloy recovery from dross and reduces operating costs while at the same time producing no hazardous by-products. In contrast, competing processes have significantly higher operating costs and produce a hazardous waste that has to be disposed of at additional cost. PyroGenesis filed a patent for DROSRITE™ in 2012.\n\nAs previously announced, the Company entered into an agreement with its Client to deliver a commercial System by the end of 2015. The Client recently conducted an on-site visit and after a successful inspection, the System was shipped and is now ready for installation at the Client's facilities.  Commissioning is expected to commence shortly with final acceptance within Q1 2016.&#...