Let us also put these developments in their proper perspective. After our first system was accepted by our client in Q3 2017, we did not expect a second sale until the second half of 2018. Notwithstanding that, we did close our second system sale before the end of 2017, and as such we were significantly ahead of schedule with that estimate.
With respect to future sales, it is hard to estimate with pin point accuracy as we are introducing a new product to the market and have little data to go by, so it is not unreasonable to be off by 3-4 months. However, having said that, we believe that orders should be concluded very shortly. I liken it to trying to estimate when a tidal wave will reach shore. You have a good idea it’s coming, you cannot estimate the time exactly, but you do know when it hits there is going to be a lot of water behind it. That is exactly what is happening with DROSRITE™.
Q. Any closing comments?
A. We mentioned in an earlier press release that the important take a way is that the demand for PyroGenesis’ DROSRITE™ system is gaining traction faster than expected. This is truer today than it was when we first noted it.
Two major breakthrough developments over the last six months, which will have a major impact on DROSRITE™ revenue streams are (i) PyroGenesis’ expansion into zinc recovery, and (ii) today’s unveiling of the Mini-DROSRITE™ system which opens up the market to thousands of smaller smelters.
Giving the activity in this business line and the economics of a DROSRITE™ system, management is currently looking at new business strategies by which they can increase shareholder value outside of being a simple system supplier.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides technical and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and technical services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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 OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information: Rodayna Kafal, VP, Investor Relations and Strategic Business Development, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com
1 http://www.world-aluminium.org/statistics/primary-aluminium-production/
2 AlCircle « Aluminum Dross Processing: A global review », 2017
