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PyroGenesis Contracted by Global Oil & Gas Company to Develop Game Changing Plasma Based Process
MONTREAL , Nov. 18, 2013 /CNW Telbec/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "C...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Nov. 18, 2013 /CNW Telbec/ - PyroGenesis Canada Inc. (\"PyroGenesis\" or the \"Company\") (TSXV: PYR), an environmental\n solutions company that designs, develops and manufactures plasma\n waste-to-energy systems and plasma torch products, announced today that\n it has been awarded a follow-on contract from a Multinational Oil and\n Gas Company (\"Client\"), which has requested that its name, as well as\n the details of the process be withheld for competitive reasons.\n\n\nThe positive findings from a recently completed techno-economic study\n has resulted in PyroGenesis being contracted by the Client to carry out\n engineering, testing and fabrication of a novel plasma based process\n that could revolutionize the oil and gas industry.\n\n\n\"Plasma based processes are unique in that we can achieve extremely high\n temperatures without the use of fossil fuels\", said Gillian Holcroft,\n Executive Vice President- Strategic Alliance for PyroGenesis. \"This\n flexibility allows PyroGenesis and its Client to explore cost\n effective, environmentally friendly and state of the art approaches for\n Oil and Gas processing.  Once the process is proven on a pilot scale\n the next step will be an on-site commercial demonstration at the\n Client's industrial operation.\"\n\n\nUnder this contract PyroGenesis will design, deliver and test a high\n temperature plasma based process which eventually would be integrated\n into the Client's existing oil and gas process. The total value of this\n contract is over $500k and will be completed in approximately 6 months.\n\n\n\"We are proud to be associated with an organization who is recognized as\n a leading developer of energy resources around the world and who does\n so in an environmentally responsible manner.  We appreciate the\n confidence our client has shown in our engineering team and our\n technology\", said P. Peter Pascali, President and Chief Executive\n Officer of PyroGenesis. \"This contract further demonstrates\n PyroGenesis' ability to leverage its core competencies to develop novel\n plasma-based solutions. The successful commercialization of this\n process will generate revenues in excess of one hundred million dollars\n to PyroGenesis while at the same time providing our customer with\n significant competitive advantages.\"\n\n\nAbout PyroGenesis Canada In...