PyroGenesis Announces Successful Completion of Additive Manufacturing NexGen™ Powder Test Runs; Commercial Powder Productio...
May 12 2021 - 01:15PM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY), a high-tech company, (hereinafter
referred to as the “Company” or “PyroGenesis”), that designs,
develops, manufactures and commercializes plasma atomized metal
powder, environmentally friendly plasma waste-to-energy systems and
clean plasma torch products, is pleased to announce that, further
to its press release dated April 19th, 2021, powder test runs for
batch to batch consistency using its cutting edge Additive
Manufacturing (“AM”) NexGen™ powder production line has been
completed successfully, and ahead of schedule. The Company is now
producing AM metal powders for clients.
“We are happy to announce this significant
milestone, almost two months ahead of the schedule announced on
April 19th. The strategic decision previously made to delay powder
production to incorporate several revolutionary improvements into
the existing production line (increased production rate, lower
CAPEX, lower OPEX, narrower particle size distribution) means that
PyroGenesis is entering the AM powder market with a production line
which management believes is the low-cost producer in its class.
Management also believes that the NexGen™ powder production line
will also enable PyroGenesis to uniquely process materials which,
until today, did not seem economically feasible,” said Mr. P. Peter
Pascali, CEO and Chair of PyroGenesis. “It is very exciting to know
that we are now going to be delivering powders to very discerning
and distinguished clients. However, I want to caution readers not
to be expecting hundreds of tons of powder orders next week. As
everything we do “…slow is smooth and smooth is fast…”, it is a
strategy that we have perfected. It has worked well for us up to
now, and we see no reason to change it.”
“We are where we want to be,” said Mr. Massimo
Dattilo, Vice President of PyroGenesis Additive. “The next step is
to complete the qualification processes and secure large long-term
contracts, thereby providing PyroGenesis with recurring revenues
for years to come. This will obviously take time, but we are there
now. With the advantages of the NexGen™ powder production line, we
believe it is only a matter of time given the major top tier
aerospace companies and OEMs are already awaiting powders from this
new state-of-the-art production line.”
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a leader in the design, development, manufacture and
commercialization of advanced plasma processes and products. The
Company provides its engineering and manufacturing expertise and
its turnkey process equipment packages to customers in the defense,
metallurgical, mining, advanced materials (including 3D printing),
and environmental industries. With a team of experienced engineers,
scientists and technicians working out of its Montreal office and
its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis
maintains its competitive advantage by remaining at the forefront
of technology development and commercialization. The Company’s core
competencies allow PyroGenesis to provide innovative plasma
torches, plasma waste processes, high-temperature metallurgical
processes, and engineering services to the global marketplace.
PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified.
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 Corporation'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 Corporation with respect to future events and are
subject to certain risks and uncertainties and other risks detailed
from time-to-time in the Corporation's ongoing filings with the
securities regulatory authorities, which filings can be found at
www.sedar.com, or at www.sec.gov. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Corporation 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 Toronto Stock Exchange, its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) nor the NASDAQ Stock
Market, LLC accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BD Phone: (514)
937-0002, E-mail: ir@pyrogenesis.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e8334b00-e686-471e-8817-0033fe5e1faf
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