PyroGenesis Contracted for $788,000 by Global Oil & Gas Company to Develop Pilot Plant Geared to Recovering Valuable Metals from Waste Streams

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[{"type":"text","content":"\n\nMONTREAL, Nov. 18, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® high-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 contracted for an additional study under a Master Services Agreement with a global oil and gas company (the \"Client\") for $788,300.\n\nAs previously reported, results to date have confirmed that significant amounts of valuable metals can be recovered by the plasma processing of oil and gas waste streams. It was noted that PyroGenesis had not only proven that plasma processing of these waste streams can recover valuable metals, but that there is also a significant 50:1 volume reduction which decreases disposal costs by more than 90%.  At this point data indicates that a $20MM PyroGenesis system could save the client over $40MM/year in disposal costs and value from recovered metal.  \"The value of the metal extraction alone is more than the current disposal costs\", said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis.  \"Results so far have exceeded our expectations, and we fully expect that the results from this pilot plant will be no different.\"  \n\nThis contract involves the adaptation of an existing plant at PyroGenesis' facility which will be used to test and further demonstrate the economics of PyroGenesis' proprietary technology.  Of note, this process forms part of the Company's current patent portfolio. It is expected that this project will be completed in the second half of 2015 with full commercialization possible shortly thereafter.\n\n\"We are excited to see that this project is moving forward as planned.\" said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis.  \"This is one more milestone on the path to full commercial operation and yet another example of how PyroGenesis is providing innovative solutions to problems in niche markets.\"\n\nAbout PyroGenesis Canada Inc.\n\nPyroGenesis Canada, a TSX Venture 50® high-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 re...

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