Business
PyroGenesis Announces $600,000 Sale of Patented DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer; Opens up $300+ Million Dollar Market
MONTREAL , June 10, 2015 /CNW Telbec/ - PyroGenesis Canada Inc. ( http://pyrogenesis.co...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\nMONTREAL, June 10, 2015 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), 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 it has received a purchase order for the supply of its first commercial DROSRITE™ Furnace System (the \"System\") from a North American automobile parts manufacturer (the \"Client\") for $600,000, which will be delivered by year-end.  The contract calls for a 50% down payment and a 10% holdback.  The name of the Client will 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 filed a patent for DROSRITE™ in 2012.\n\nPyroGenesis' patented DROSRITE™ process increases aluminum alloy recovery from dross and reduces operating costs while at the same time producing no hazardous byproducts. In comparison, competing processes have significantly higher operating costs and produce a hazardous waste that has to be disposed of at additional cost.\n\nThe Client engaged PyroGenesis earlier this year to perform a two-week pilot demonstration of the DROSRITE™ process at one of its manufacturing facilities in North America. It is on the successful results of this pilot demonstration that this purchase order is based.  Once the system is operational, it is expected that the Client will purchase two additional DROSRITE™ systems to be installed at its other manufacturing facilities.\n\n\"With over 53 million metric tonnes of aluminum produced in 2014 by primary smelters alone, and recognizing that dross is being produced at all steps of aluminum production/transformation, the opportunity to deploy our DROSRITE™ technology is vast,\" said Pierre Carabin, PyroGenesis' Director of Engineering. \"When one factors in rising electrical costs, the DROSRITE™ process provides a quick return on investment while ensuring no hazardous residue legacies ...