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Message: PyroGenesis Completes Contract for Specialty 3D Metal Powder; Full Payment Received
MONTREAL, July 11, 2019 -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, announced in Press Releases dated December 17th, 2018, and March 5th, 2019, that (i) the Company had received a purchase order for specialty metal powder from a government entity (the “Client”), and (ii) that it had shipped the first batch, the Company is now pleased to announce that it has successfully completed this special order and has, as a result, received full payment from the Client. The name, origin, and type of powder are not permitted to be disclosed.
As previously announced, under this Contract, PyroGenesis was to produce specialty reactive metal powder using its NexGen™ plasma atomization system. The Client intends to use this powder for confidential purposes. The powder was delivered, in its entirety, over a period of two (2) months and the quality exceeded expectations. Follow-on orders are expected.
“The completion of this Contract represents a significant milestone for PyroGenesis Additive. This is the first powder produced using PyroGenesis Additive’s new plasma atomization process at a production rate unheard of for plasma atomized powders,” said Mr. Massimo Dattilo, VP PyroGenesis Additive. “Although not titanium, the material had similar properties to titanium, including being reactive. Being able to produce this specialty reactive metal powder in such a short period of time underscores the versatility of our new plasma atomization process in producing best-in-class powders. This order for unique material illustrates how PyroGenesis is a leading go-to Company for innovative 3D printing material projects.”
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. 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 and AS9100D 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. 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: [email protected]
RELATED LINKS: http://www.pyrogenesis.com/
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