PyroGenesis Announces $2.2 million Plasma Torch Contract
MONTREAL, Aug. 30, 2012 /PRNewswire/ – PyroGenesis Canada Inc. (“PyroGenesis” or the “Company”) (TSXV: PYR), announced today that it
has been awarded a plasma torch system contract by an Asian company
(the “Client”), the name and origin of which may not be disclosed for
This ten (10) month, two phase contract, with a value of $2.2 million
will require PyroGenesis to design, manufacture and deliver a fully
automated plasma torch system comprised of eight (8) air plasma
torches. The contract is projected to begin September 23(rd) 2012.
“This contract is a direct result of management’s decision to
strategically develop its core competencies into new market niches
which complement PyroGenesis’ plasma waste-to-energy systems”, said P.
Peter Pascali, President and Chief Executive Officer of PyroGenesis.
“This decision has resulted in new business earlier than expected and
is a direct consequence of our marketing efforts combined with our
superior product line performance. As such we expect this sector to be
an even bigger bottom line contributor than originally anticipated.”
“We are very proud of having been selected as the plasma torch provider
for this project; this not only is a great opportunity for PyroGenesis
but also offers the Company the opportunity to cross-sell its other
products into the Asian market”, said Gillian Holcroft, Chief Operating
Officer of PyroGenesis.
“This contract underscores the difference between Pyrogenesis and all
other plasma waste-to-energy companies; plasma torch and plasma torch
development is our core competency”, said P. Peter Pascali, President
and Chief Executive Officer of PyroGenesis. “We have been developing
and commercializing plasma torches for over 20 years”.
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.
SOURCE PyroGenesis Canada Inc.