Business
PyroGenesis Begins Shipment of its Novel Plasma-based Ozone Depleting Substance Destruction System to Recyclage Écosolution's Facility
MONTREAL, Jan. 25, 2012 /CNW/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "Company") ...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Jan. 25, 2012 /CNW/ - PyroGenesis Canada Inc. (\"PyroGenesis\" or the \"Company\") (TSX-V: PYR), an environmental\n solutions company that designs, develops and manufactures plasma\n waste-to-energy systems and plasma torch products, today announced that\n it has started to ship its plasma-based Ozone Depleting Substance (ODS)\n Destruction System to Recyclage ÉcoSolutions Inc.'s (\"RES\") Laval\n facility.  Shipment and installation of PyroGenesis' state-of-the-art,\n patent pending ODS Destruction System will continue through to March,\n 2012.  Commissioning, start up and operation of this system is expected\n to commence in the second quarter of 2012.\n\n\nThe joint venture agreement between PyroGenesis and RES, signed in May,\n 2011, will generate $2.65 million in revenue for PyroGenesis, and is\n part of a larger $4.0 million ODS destruction program initiated by RES.\n\n\nPyroGenesis' technology will allow RES to safely destroy ozone depleting\n substances, specifically halocarbons, at RES' Laval-based appliance\n dismantling and recycling plant. Presently, halocarbons extracted\n during the recycling process are shipped to remote offsite locations\n for disposal.\n\n\n\"We are excited to be advancing our partnership with Recyclage\n ÉcoSolutions, an established recycling leader,\" said P. Peter Pascali,\n President and Chief Executive Officer of PyroGenesis. \"This partnership\n has given us the opportunity to validate our technology's efficacy and\n economic value in halocarbon waste management, an area with substantial\n potential for our Company going forward. In addition, the modifications\n we have made to our existing technology for the purposes of this\n partnership should broaden the applicability of our plasma waste\n destruction technology into other industrial sectors.\"\n\n\nAlain Boisvert, President of Recyclage ÉcoSolutions Inc., commented,\n \"The forward looking technology we are investing in allows RES to offer\n an integrated service to our clients and responds to a crucial need for\n a safe and sound halocarbon disposal option in Canada, and in emerging\n countries.\"\n\n\nAccording to RES, 2009 Canadian sales of refrigerators, freezers and air\n conditioners exceeded 2.1 million units, adding to the 6.2 million sold\n prior to 1995, and to the 23.6 mil...