Business
PyroGenesis Announces Receipt of $340K Down Payment on Previously Announced Sale of Patented DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer; Paves Way for Additional System Sales in Early 2016
MONTREAL , July 20, 2015 /CNW Telbec/ - PyroGenesis Canada Inc. ( http://pyrogenesis.co...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\nMONTREAL, July 20, 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 the receipt of a $340K down payment for the supply of its first commercial DROSRITE™ Furnace System (the \"System\") to a North American automobile parts manufacturer (the \"Client\"), which will be delivered by year-end. The name of the Client remains confidential for competitive reasons.  \n\nAs previously announced, this contract was signed last June based on the successful results of a two-week pilot demonstration of the DROSRITE™ process at one (1) of the Client's North American manufacturing facilities earlier this year.  The System is expected to become operational in Q1 2016, and will showcase the transformative nature of PyroGenesis' DROSRITE™ technology to an industry that has been plagued by rising electricity costs, large carbon footprint, and poor environmental legacies. It is expected that, soon after successful commissioning, the Client will purchase two (2) additional DROSRITE™ Systems. \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 byproducts. In comparison, 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\n\"This contract provides PyroGenesis with the crucial reference plant it has been seeking,\" said Tom Whitton, a PyroGenesis Business Development Leader. \"With this first project underway, PyroGenesis can now leverage this success to market DROSRITE™ to primary and secondary aluminum smelters as well as large finished goods manufacturers primarily ...