MONTREAL, May 24, 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, is pleased to announce today that it has successfully demonstrated its Drosrite™ System (the “System”) in India to a client (“Client A”), and has separately received an order for a paid demonstration to recover zinc from dross from another client in the region (“Client B”). Client B, one of the biggest primary smelters of aluminum and zinc in the region, has an estimated need of upwards of ten (10) Systems (both zinc and aluminum) within its umbrella of companies.
As previously announced, PyroGenesis’ demonstration unit is currently booked until the end of September 2018 with paid-for-demonstrations in India. As a result of the strong demand for such demonstrations elsewhere, PyroGenesis is in the process of completing a second demonstration unit to be deployed in North America. It is expected that this second unit will start taking bookings at the end of this summer. To date, PyroGenesis has announced the sale of two (2) Systems, both of which were preceded by successful paid-for-demonstrations.
“Both these announcements today are important," said P. Peter Pascali, President and CEO of PyroGenesis. "First, the successful demonstration with Client A has led, not only to discussions regarding procurement of a System for the facility, but also to scheduling of further paid-for-demonstrations at other facilities for Client A. We estimate that there is an immediate need for at least another six (6) Systems with this client. Separately, and most importantly, is the significance of having entered into a paid-for-demonstration with Client B to recover zinc from a zinc-based dross. This demonstration is expected to take place during this summer and, if successful, should translate into an immediate order. Although too early to tell, we expect that the economics and business case for the zinc recovery Systems may rival those of the previous aluminum recovery Systems.”
“This announcement with respect to zinc recovery is indeed an important development,” said David D’Aoust, Sales Manager, Drosrite™ of PyroGenesis. “As a result, PyroGenesis has effectively taken the first step into the zinc recovery market with its patented Drosrite™ System, and which we estimate to represent almost as great an opportunity as that for aluminum.”
"As previously announced, Drosrite™ is well on its way to becoming a solid contributor to PyroGenesis’ bottom line and today’s announcements further underscores that fact," said P. Peter Pascali, President and CEO of PyroGenesis. "To put things in perspective, one only needs to remember where we were this time last year with respect to this business line, and then fast forward to today. Once again, PyroGenesis’ Board’s decision to target high value niche problems in various industries is bearing fruit.”
PyroGenesis’ Drosrite™ System is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. PyroGenesis’ patented process avoids costly loss of metal while reducing a smelter’s carbon footprint and energy consumption, providing an impressive return on investment. The System has been designed to process and recover valuable metal such as aluminum, zinc and copper from dross.
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 m 2 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 9001:2008 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: Rodayna Kafal, VP, Investor Relations and Strategic Business Development, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
RELATED LINKS: http://www.pyrogenesis.com/
