Proven plasma torch processes for US military, 3D powders for aircraft engines and solar grade silicon metal for solar industry
TSX Venture Exchange chooses PyroGenesis to be included in the Exclusive TSX Venture 50®
PyroGenesis Signs First Major Exclusive Commercial Agreement for Sale of Titanium (Ti-6Al-4V) Powders
Q1 2018 Highlights:
- Revenues increased 21% to $2.1MM in Q1 2018 from $1.7MM posted in Q1 2017,
- Gross profit of 34.3%represents a decrease of 17.3% over the same period in Q1 2017,
- Backlog of signed contracts is $5.2MM,
- Cash on hand at quarter end: $2.5MM (December 31st , 2017: $623K).
- Clients include: U.S Air Force, U.S NAVY, Canada Natural Resources
LINES OF BUSINESS
- Received certification for the production of metal powders under a quality management system which complies with the requirements of ISO 9001:2008
- Certification is an amendment to the Company’s existing ISO certification
- Pertains specifically to metal powder production
- Was received under the auspices of a major independent risk and standards company; SAI Global.
- Signs First Major Exclusive Commercial Agreement for Sale of Titanium (Ti-6Al-4V) Powders
- Agreement provides for a minimum sales volume of 10,000 kg over 2 years and is limited geographically to a specific territory in Asia
DROSRITE™: - System is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. The patented process avoids costly loss of metal while reducing a smelter’s carbon footprint and energy consumption, providing an impressive return on investment.
Market potential for PyroGenesis' DROSRITE™ system, from Aluminium dross alone, exceeds $400MM.
- Furnace System proven out at a North American customer's Mexican facility
- Soon thereafter, a successful demonstration of the DROSRITE™ System in the Middle East took place
- Unsolicited request to exclusively market the process in the region was received and is currently being discussed
- Received a purchase order in the amount of US$ 800,000 for the sale of a second DROSRITE™ Furnace System to a North American automobile parts manufacturer
- Expected to have at least 3 orders placed and delivered
Contracts totalling $8,260,000 signed with HPQ Silicon Resources
- Announced Commencement of Advanced Second Phase Lab Scale Testing with HPQ Totalling CAN$170,000 which has been Received
- The start of this new metallurgical testing program using the Gen 2 PUREVAP™ represents major de-risking of the Pilot Plant program as the Gen 2 PUREVAP™ will:
- Allow for specific process design improvements and modifications derived from Gen 1 PUREVAP™ test work to be implemented and perfected;
- Produce larger Silicon Metal (Si) samples to test improvements to the purification process;
- Allow an intermediate step in scaling up to the Pilot Plant, thereby mitigating the scaling up risk;
- Allow for the following milestones to be reached sooner than originally planned:
- Producing larger Si samples for testing by potential purchasers;
- Allow HPQ and PyroGenesis to test the electrical parameters of the High Purity Si;
- Produce enough material to send samples to solar industry participants; and
- Provide data to demonstrate the economics of PUREVAP™ technology.
- HPQ Silicon Resources signed a development agreement with Apollon Solar, a solar silicon specialist.
Chemical Warfare Destruction System:
Tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program
- Successfully completed long-duration performance tests using the Company's tactical Plasma Arc Chemical Warfare Agents Destruction System ("PACWADS") using surrogate chemical warfare agent material
- Far exceeded minimum requirements with over 99.9999% destruction efficiency.
- PACWADS is now scheduled to go through final testing using real chemical warfare agents by the US Military).
- Other contracts being discussed (such as a third order for a PAWDS for a New US Aircraft Carrier which is expected to be ordered in 2018 with an estimated value of approximately $6MM; SPARC system sales, amongst others)
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