MONTREAL, QUEBEC–(Marketwired – June 7, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, is pleased to announce today that it has signed its second contract for an order of titanium powder (Ti-6Al-4V) from a US based end user (the “Client”), the name and origin of which will not be disclosed for competitive reasons. Note, this is the second order placed during the ramp-up phase of the Company’s powder production system (the “System”), and exceeds the original expectations for powder sales during this phase.
PyroGenesis’ System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing industry.
PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only led to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the AM industry. The System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1
“As previously announced on March 30, 2017, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made before such time to be very significant as this would further validate our strategic decision to enter into powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “Although this order is a sample order what is truly noteworthy is it’s the second order we have received during ramp up. The fact that this Client has taken the time to sample our powders and allocate the funds to qualifying it internally, all before the ramp-up phase is complete is extremely significant. The two sample orders received to date exceed our initial expectations for powder sales. We believe that a third sample order received during the ramp up phase would underscore the interest in the marketplace for PyroGenesis’ products and unique expertise.”
On March 30th, 2017, PyroGenesis announced that it had completed the assembly of its first powder production system, and that the first powder run exceeded expectations. The ramp-up that was already underway was expected to take place over the ensuing (4) months (April-July).
“We note that so far the operational performance and progress to date, during the ramp-up phase, far exceed our expectations,” said Pierre Carabin, Chief Technology Officer of PyroGenesis. “Our team remains focused and dedicated to our commitments to deliver high quality powders to the additive manufacturing industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry.”
“These continue to be very exciting times for PyroGenesis,” said Mr. Pascali. “This second order, and although noteworthy, we continue to be cautious from concluding that anything of significance will happen quickly. Discussions take time and we are still in the early phases. Suffice it to say at this point that there have been no disappointments and we continue to be happy with the progress and developments to date.”
The Company will be issuing an in depth update on the progress of its Powder Production business line within the next week where a review will take place on all aspects of that sector.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
1Wohlers Report 2016 (ISBN 978-0-9913332-2-6)