Peter,

I just wanted to commend you and your team on today's major milestone. You answered all of my questions, and as an investor, I greatly appreciate your understanding of the nuances of the business/industry and willingness to engage your shareholders.

What brought me to Pyrogenesis a year ago was your unique ability to produce titanium powder for the major aircraft engine manufacturers. I viewed (and still do) that market segment alone to represent an incredible opportunity. Based on my research, plasma atomization is the only process that can produce titanium powder with characteristics (purity, shape, etc.) sufficient to satisfy strict industry standards and pass FAA muster. As Pyrogenesis and AP&C are the only companies that can utilize plasma atomization, Pyrogenesis is one of just two games in town. I also believe aerospace manufacturers are just scratching the surface of applying AM to the production of engine and other flight critical parts, and the industry is going to require massive quantities of powder in the near future.

But with all of the changes in the industry over the pasts 12 months, specifically the introduction of new AM processes, I was concerned that powder-bed AM would be displaced with DED or SPJ. Today's PR allayed those concerns. Not only is the powder-bed method still the best equipped method to produce aerospace engine and other critical parts, but you've adjusted your plasma atomization process to produce MIM powders to address the emerging SPJ segment.

I'm thrilled with the progress and direction of Pyrogenesis, and I'm sure other informed investers would agree. Congratulations to you and your team. I'm excited to see what the future holds.

Best,

JLM