MONTREAL, Oct. 23, 2018 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR), a TSX Venture 50® high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch systems, announces today that it has been awarded a plasma torch equipment contract from a European entity (the "Client"), the name and origin of which is not disclosed for competitive reasons.
This contract, with a value of €497,000 (Can$ 745,000) will require PyroGenesis to manufacture and deliver a plasma torch system to test certain novel concepts.
“Final delivery is scheduled for Q2-2019,” said Mr. Massimo Dattilo, Vice President, Sales of PyroGenesis. “The Client will test certain novel concepts which will complement the Company’s strategy of developing cutting edge technologies and continue to produce game-changing processes. PyroGenesis shall have access and the right to use, on a worldwide, royalty free basis, any development or Intellectual Property (“IP”) arising from the work done by the Client, together with a right of first refusal on all future IP developed by the Client.”
“Extending our relationships with cutting-edge centers around the world fits well with our strategy to be the best plasma company in the world,” said Mr. Pierre Carabin, Chief Technology Officer and Chief Strategist of PyroGenesis. “By entering into such relationships, we leverage off of other people’s facilities/expertise and, as such, accelerate our growth.”
“PyroGenesis has one of the largest, if not the largest, concentrations of plasma expertise under one roof, and over the last two decades, we have successfully developed and commercialized plasma-based processes across several well-chosen industries,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “This contract underscores the significant advantages in PyroGenesis offerings: the fact that plasma torches and plasma-based systems are our core competency.”
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 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. Our 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. Our operations are ISO 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. 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.otcmarkets.com. 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 TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Clémence Bertrand-Bourlaud, Marketing Manager/Investor Relations, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
RELATED LINKS: http://www.pyrogenesis.com/
