PyroGenesis Announces $1.2MM Plasma Torch Contract
August 17 2021 - 11:43AM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (NASDAQ: PYR)
(TSX: PYR) (FRA: 8PY), a high-tech Company (hereinafter referred to
as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions to reduce greenhouse gases, is pleased to
announce today that it has signed a $1.2MM contract for two Air
Plasma Torch systems with an existing Asian client. These torches
are to be incorporated into the Client’s medical waste destruction
systems. The name of the Client will remain confidential for
competitive reasons.
“This contract is for two Air Plasma Torch
systems, which are low powered and very different from the
high-powered torches we offer to other industries (for example –
iron ore pelletization), and underscores both the versatility and
acceptance of our torches as well as our unique engineering
capabilities,” said Mr. P. Peter Pascali, CEO and Chair of
PyroGenesis. “Of note, if successful, these medical waste systems
may replace legacy technologies, such as medical incinerators,
which are inefficient and widely criticized for generating
greenhouse gases. There is an enormous unaddressed medical waste
management need worldwide, particularly in Southeast Asia, for
cutting edge solutions such as this.1 More importantly, this entry
into the medical waste destruction market is just another of our
offerings that complements our strategy to become a preeminent
supplier of processes that reduce greenhouse gases.”
Both Air Plasma Torch systems are expected to be
delivered in Q1 2022.
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 sustainable
solutions which reduce greenhouse gases (GHG), and are economically
attractive alternatives to conventional “dirty” processes.
PyroGenesis has created proprietary, patented and advanced plasma
technologies that are being vetted and adopted by multiple
multibillion dollar industry leaders in four massive markets: iron
ore pelletization, aluminum, waste management, and additive
manufacturing. 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 operations are ISO 9001:2015
and AS9100D certified, having been ISO certified since 1997. 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 BDPhone: (514)
937-0002, E-mail: ir@pyrogenesis.com
____________________1 World Health Organization.
Regional Office for South-East Asia. (2017). Report on
health-care waste management (HCWM) status in Countries of the
South-East Asia Region. World Health Organization. Regional
Office for South-East
Asia. https://apps.who.int/iris/handle/10665/258761. License:
CC BY-NC-SA 3.0 IGO
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