Business
PyroGenesis signs $1.5M Agreement with Leading Appliance Recycler; 2014 Backlog now Exceeds 2013 Revenues by more than 50%
MONTREAL , Jan. 7, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. ( http://pyrogenesis.co...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Jan. 7, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), an environmental solutions company that designs, develops\n and manufactures plasma waste-to-energy systems and plasma torch\n products, today announced that it has signed an agreement with Canada's\n leading end-of-life refrigerator and freezer recycler (\"Client\") to\n provide them with additional equipment and services (including onsite\n optimization) for PyroGenesis' patented SPARC technology. As part of\n this agreement, the Client will commercialize the SPARC technology on\n an exclusive basis within Canada.  This agreement, totalling up to\n $1.5M, includes several options for follow-on service contracts, all of\n which are expected to be executed within 2014.\n\n\nPyroGenesis' environmentally friendly and cost-effective Steam Plasma\n Arc (SPARC) Destruction System allows clients to safely destroy\n ozone-depleting substances (ODS) which can generate as much as 10,000\n times more Green House Gases when compared to CO2 emissions. \"The successful introduction of this technology within\n Canada is the first step to expanding the commercialization of\n PyroGenesis' patented SPARC technology on an international scale\", said\n Gillian Holcroft, Executive Vice President, Strategic Alliances for\n PyroGenesis.\n\n\nAs previously reported, PyroGenesis' SPARC technology achieved an\n unprecedented 10x greater destruction efficiency as compared to current\n requirements. Conservative estimates show that there are at least\n 25,000 tons per year of ODS that require destruction. This represents\n over $100 million of business potential to PyroGenesis with no apparent\n competition at these destruction efficiencies.\n\n\n\"Our Client intends to incorporate PyroGenesis' SPARC technology into\n its existing appliance recycling business. As part of this Agreement,\n PyroGenesis will also be the exclusive supplier of after-sales service\n and support. The operation of PyroGenesis' patented SPARC technology at\n the Client's new industrial facility will demonstrate to the world the\n environmental and economic benefits of safe and effective ODS\n destruction\", said Gillian Holcroft, Executive Vice President,\n Strategic Alliances for PyroGenesis.\n\n\n\"With this agreement in place, and with only one week into the New Year,\...