PyroGenesis Announces Completion of In-House Audit of Its NexGenTM Metal Powder Production Facility by Global Aerospace Company
September 21 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 releases dated August 31, 2022 and July 18, 2022, the
in-person powder production audit at PyroGenesis’ metal powder
production facility in Montreal was completed by a tier one global
aerospace company (the “Client”).
“We are extremely pleased with the results of
the on-site audit which offered us an opportunity to showcase our
facility, our staff, and our groundbreaking process to a leading
provider in design, engineering, and manufacturing of aircraft,
aerospace technology, and defense solutions,” said Mr. P. Peter
Pascali, CEO and Chair of PyroGenesis. “The findings and
recommendations suggested to us by the Client were thoughtful,
valuable, and easily implemented. As you might expect the scrutiny
was of the highest degree, and I wish to thank the entire team, who
over many years, have contributed to this success. Once again, the
philosophy that “slow is smooth and smooth is fast” is bearing
fruit for both the Company and its investors.”
As mentioned in prior news releases, this
on-site facility and production audit is a significant step for the
Company as part of the final phase of the Client’s qualification
process, which has spanned over 18 months of investigative rigor
towards becoming an approved supplier of metal powders to the
Client and its suppliers. With this step completed, the Company is
making requested modifications and adjustments in order to proceed
with delivery of final samples of titanium powder for chemical and
mechanical testing by the Client.
“From the outset, we wanted to validate our
product and our system with the best, under the hardest and the
most difficult standards. We are proud to state that all of the
Client’s findings are addressable and aligned with our expectations
prior to the audit,” said Mr. Massimo Dattilo, VP, PyroGenesis
Additive. “As we have stated in the past, given our unique
manufacturing process that exponentially improves upon the world’s
leading existing metal powder production process – which we
invented – using high temperature plasma atomization, we expect to
be in a position to capture a significant share of the global
titanium powder market. Completing the modifications by the
Client’s audit findings and moving to the final sample delivery
stage with such a major global aerospace company is a huge step
towards that goal. We continue to be on track for a Q4 2022 / Q1
2023 target for final submission and approval.”
The goal of PyroGenesis’ Additive division is to
become a leading supplier of plasma atomized metal powders to end-
users of additive manufacturing (AM) and 3D printing, which
include, but are not limited to, the aerospace, biomedical, and
automotive industries. The Company believes that its NexGen™ metal
powder production system, a single-step process that is unique in
that it uses wire as a direct feedstock, will produce significant
gains in production speed, particle size control, and cost.
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 plasm a
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.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BD Phone: (514)
937-0002, E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com/
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