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PyroGenesis Announces Shipping the First of Ten Powder Production Systems for 3D Printing under a $12.5MM Contract
MONTREAL , May 25, 2015 /CNW Telbec/ - PyroGenesis Canada Inc. ( http://pyrogenesis.co...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\nMONTREAL, May 25, 2015 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR.V), 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, announces today that it is shipping the first of ten powder production systems for 3D printing due under a $12.5MM contract signed last year.\n\nAs reported last July, the Company signed a contract with a major international manufacturer (the 'Customer') for ten plasma-based, powder production systems for 3D printing. Under the contract, PyroGenesis is to supply ten of its unique metal powder production platforms to an Asian Customer for a total contract value of $12.5 MM. The Customer's name was withheld for competitive reasons.\n\n\"Under this contract, 9 of the 10 systems are to be built once the first system is fully installed and commissioned in Asia. With the first system being shipped, and installation and commissioning scheduled for this summer, we plan to start manufacturing the last nine systems in the fall of 2015,\" said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis Canada Inc. \"On a related note,\" Mr. Pascali added, \"We continue to experience significant interest in our 3D powder capabilities, and we have recently decided to offer these powders on a take-or-pay basis to several key customers.\"\n\nSeparately, building upon its patented and proven capabilities in manufacturing systems that produce small, uniform, and spherical metal powders, which are ideal for 3D printing, PyroGenesis has made further improvements to its process, which is in the process of being patented.\n\nAbout PyroGenesis Canada Inc. \n\nPyroGenesis Canada, a TSX Venture 50® clean-tech company, is the world leader in the design, development, manufacturing and commercialization of advanced plasma processes. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced PyroClassTM engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 production facility...