Translate
- Follow-on Contract the Result of Successful Plasma Piloting Results -
MONTREAL, Oct. 3, 2011 /CNW/ - PyroGenesis Canada Inc. (TSX-V: PYR), an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products, announced today that it has been awarded a follow-on engineering contract from a multi-national mining and metallurgical company.
The follow-on contract is the fifth in an ongoing series of agreements that started in 2009. These contracts require PyroGenesis to engage in a combination of engineering, pilot testing and fabrication of plasma equipment and high temperature reactors as part of a plan to develop a novel, commercial scale plasma-powered metallurgical process. For competitive reasons, the client has requested that its name be withheld.
"Our ongoing relationship with this global customer illustrates the strong potential for our plasma-based technology and engineering expertise in metallurgical applications," said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis. "This agreement demonstrates our ability to leverage our core competencies to develop and scale-up novel plasma-based solutions, which act as competitive advantages for our customers."
This contract will require PyroGenesis to design and deliver plasma torches along with a high temperature plasma-fired furnace for a larger, more integrated pilot process. This contract is a result of successful, smaller-scale pilot testing carried out during the third quarter of 2011 at the Company's 6,000 square metre facility in Montreal. The total value of the five contracts executed to date exceeds $1.5 million.
"Our belief is that this project will demonstrate to the metallurgical industry that plasma processing has many advantages in this sector," said Gillian Holcroft, Chief Operating Officer of PyroGenesis. "For example, plasma does not require fossil fuels to achieve high temperatures, and with the added advantage of being able to "select" the plasma forming gas, it can inhibit or promote specific chemical reactions from taking place allowing for the cost effective production of advanced materials."
About PyroGenesis Canada Inc.
PyroGenesis Canada is an environmental solutions company that designs,
develops and manufactures plasma waste-to-energy systems and plasma
torch products. PyroGenesis' proprietary plasma technologies utilize
the intense energy of plasma to gasify and vitrify virtually any type
of waste without producing hazardous by-products. PyroGenesis' patented
gasification and vitrification technology is different from
incineration because it produces a clean synthetic gas from waste,
which can be used for power generation. PyroGenesis' technology can
also turn waste into a glassy rock that can be utilized as construction
material. PyroGenesis has marquee defense industry and civilian
customers that are using its technology in marine and land-based
applications. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.