PyroGenesis Announces Commencement of In-Factory Audit of its NexGen™ Metal Powder Production Facility by Top Tier North American Global Aerospace Company
August 31 2022 - 7:30AM
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 advanced plasma processes, high
quality plasma atomized metal powder for 3D printing and additive
manufacturing, and sustainable solutions which are geared to reduce
greenhouse gases (GHG), is pleased to announce today that, further
to its press release dated July 18th, 2022 and Outlook section of
its Q2 2022 Financial Results press release, a tier one North
American global aerospace company (the “Client”) will, in
September, be conducting an in-person powder production audit at
PyroGenesis’ metal powder production facility in Montreal, a
significant step in a previously announced qualification agreement.
“After many months of document review and
process improvements, we are now proud and honored to be showcasing
our facility, our staff, and our groundbreaking process to this
major international corporation – a legendary company who continues
to be a world leader in design, engineering, and manufacturing of
airplanes and aerospace technology,” said Mr. P. Peter Pascali, CEO
and Chair of PyroGenesis. “We have all worked extremely hard to
reach this point. In our opinion, this is one of the most important
and critical steps in our powder production qualification.”
This on-site, in-person powder production audit
is part of the final phase of the qualification process which has
spanned over 18 months of investigative rigor by the Client. This
portion of the audit will consist mainly of a facilities and
operations assessment, during which PyroGenesis’ technicians and
operators will demonstrate the reliability of the Company’s
cutting-edge metal powder production facility and work instruction
processes. The in-person audit is formally scheduled to take place
in September. The exact date will not be disclosed for
confidentiality reasons.
Upon successful completion of this in-person
audit, the last step will include providing final powder samples to
test specific mechanical and chemical properties. Once all steps
are completed and testing is finished, PyroGenesis’ process will be
locked down and ready to receive commercial orders; no further
changes will be allowed. Furthermore, the Client will certify the
company's metal powders for use by the customer and its component
suppliers. The formal and methodical process with this leading
aerospace company is anticipated to achieve final approval towards
the end of this year.
“As we have stated in the past, given our unique
manufacturing process that improves exponentially on the world’s
existing leading metal powder production process – which we
invented 25 years ago – using high temperature plasma atomization,
we expect to be in a position to capture a significant share of the
overall titanium powder market,” said Mr. Massimo Dattilo, VP,
PyroGenesis Additive. “We are confident that our NexGen metal
powder production system, a single-step process that is unique in
that it uses wire as a direct feedstock for significant gains in
production speed and particle size control, will meet or surpass
Client expectations, both over the next two weeks during the
on-site audit, and beyond.”
Separately, as previously announced, the company
continues to pursue a strategy to build and operate a metal powder
manufacturing facility in Europe to address the anticipated
parallel growth in the European market. Management has already
initiated serious discussions with potential partners and is
actively analyzing this opportunity. The Company will provide more
information on this development as events develop.
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 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
https://www.sedar.com/ or at https://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 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 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 Investor Relations
and Strategic Business DevelopmentPhone: (514) 937-0002, E-mail:
ir@pyrogenesis.comRELATED LINK: http://www.pyrogenesis.com/
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