Business
PyroGenesis Signs $12.5MM Contract for the Sale of Powder Production Systems for 3D Printing with International Large-Scale Manufacturer; Backlog now exceeds $20 Million
MONTREAL , July 7, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. ( http://pyrogenesis.com ...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\nMONTREAL, July 7, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® plasma solutions company that designs,\n develops and manufactures plasma waste-to-energy systems and plasma\n torch systems, announced today that it has signed a contract with a\n major international  manufacturer (the 'Customer') for ten\n plasma-based, powder production systems for 3D printing. The contract\n is for the supply by PyroGenesis of ten of its unique metal powder\n production platforms to the Customer over an 18-month period for a\n contract value of $12.5 MM. The Customer's name is being withheld for\n competitive reasons.\n\n\nWith this contract in hand, the Company's backlog of signed contracts\n now exceeds $20MM or the equivalent of approximately 350% of the\n Company's revenues in its previous fiscal year, all of which is\n expected to be completed by year end 2015.\n\n\n\"As mentioned in our March 31, 2014 press release, one of the limiting\n factors in the full commercialization of 3D printing for metal products\n is the availability of high-quality, high-purity metal powder,\" said P.\n Peter Pascali, President and Chief Executive Officer of PyroGenesis. \n \"Our patented platform can produce these powders effortlessly.  It is a\n proven product with completed commercial sales having already taken\n place in North America and Europe.  What is more exciting is the demand\n we are currently experiencing for this product line world-wide.\"\n\n\nThe customer is looking to PyroGenesis and its plasma-based technology\n to ensure a strategic and continuous supply of metal powder feedstock\n for their own internal 3D printing production use.\n\n\n\"This contract highlights the success PyroGenesis is having with the\n focused business development strategy implemented last year; the\n effects of which we are only now beginning to see,\" noted Mr. Pascali,\n \"and it once again underscores the success PyroGenesis is having in\n deploying its core plasma technology to niche, high-margin\n applications.\"\n\n\nAccording to World 3D Printing (Additive Manufacturing), a report issued by the Freedonia Group in December 2013, world demand\n for 3D printers, materials and software will rise 21 percent yearly to\n US$5 billion in 2017.  This report also highlights faster g...