TWO TAKEAWAYS:

1.  New Market + Anticipated Repeat Orders

“This sale is significant as it is the first non-military waste treatment System sold by PyroGenesis and signifies an important first step into this new market,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “We fully expect that this will be the first of many systems ordered by the Client who will benefit, upon reaching a certain milestone, from a limited territorial exclusivity.

2.  BACKLOG $40M + NEXT 18 MONTHS

This contract, together with signed backlog, recently announced contract award, and the imminent US Navy contract for $13.5M, portends to a backlog of over $40M, which must be addressed within the next 18 months, come September. This does not include the $35M of backlog in subsequent years. It is a very exciting time for the Company.”

Let's not forget PyroGenesis is planning on spinning out 3D printing division and uplisting in the next several months.

Congratulations to Peter and his team!