PyroGenesis Announces Expansion into Europe with a ~ $4M Commercial Sale of its Patented Plasma Waste to Energy System
MONTREAL, Dec. 2, 2013 /CNW Telbec/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "Company") (TSXV: PYR), an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products, is proud to announce today that it has reached an agreement to deliver its patented Plasma Waste to Energy system to a European entity; secured by a significant non-refundable down-payment. The 10 TPD system is scheduled to be delivered in 2014 where it will be used on a commercial basis to transform costly industrial waste into electrical energy and usable by-products.
"This indeed is a watershed moment for the Company. This sale not only expands our customer base beyond the traditional US military, but does so in a market place that is in dire need of a reliable, cost effective and sustainable waste management solution. We have been targeting the lucrative European market for years now and believe this European sale is the first of many to come. PyroGenesis is the only plasma company that has successfully demonstrated its technology at a small scale; a technology which is readily scalable for larger waste to energy projects. To say the business potential for PyroGenesis in Europe is in the hundreds of millions of dollars would be an understatement." said P. Peter Pascali, President and CEO of PyroGenesis.
In 2010 PyroGenesis delivered its first Plasma Waste to Energy System to the US Air Force which was accepted by the military in 2011. The system is designed to transform all types of waste (without the need for pre-sorting) into useful products (electricity and construction material) without generating any hazardous by-products. This capability has particular resonance within the European marketplace where the options for conventional land-fill are limited and the cost for destruction of industrial and hazardous waste is extremely high.
"PyroGenesis' technology has a patented two step approach which not only makes it a cost effective technology but increases its reliability and flexibility in handling varying waste feed streams. It can also be a NET Energy Producer even at very small capacities. Our customers can generate revenues from (i) the tipping fees for the waste being processed, (ii) the sale of excess electrical energy to the grid, (iii) the sale of the glassy rock (slag) as construction material, (iv) the resale of recovered metals and in addition (v) because the technology reduces green house gases the operator can benefit from carbon credits where applicable," said P. Peter Pascali, President and CEO of PyroGenesis.
"What is truly amazing is that we have yet to tap into the added value of our by-products, such as the glassy rock and recovered metals. For example, if the glassy rock is used as an aggregate for construction then it can be worth as much as $50 per ton depending on the location. If however the glassy rock can be used as a replacement for cement then the value can increase substantially to several hundred dollars per ton. Similarly, waste streams can also contain valuable metals which could be recovered using our technology", said Gillian Holcroft, Executive VP, Strategic Alliances for PyroGenesis.
"People embrace plasma gasification and vitrification because it is a clean technology that doesn't produce any of the usual hazardous by products such as dioxins and furans. Our process must produce a very clean synthetic gas in order for it to be used to operate an internal combustion gas engine. As such the emissions from this same engine are also necessarily clean. Another benefit of our system is that waste is "naturally" sorted within the plasma chamber thereby enabling (i) organics to be transformed into a synthetic gas which is then used to power a gas engine to produce electricity and (ii) inorganic compounds to form a non-toxic slag that can be used as a construction material", said Pierre Carabin, Director of Engineering for PyroGenesis.
About PyroGenesis Canada Inc.
PyroGenesis Canada is an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products. PyroGenesis' proprietary plasma technologies utilize the intense energy of plasma to gasify and vitrify virtually any type of waste without producing hazardous by-products. PyroGenesis' patented gasification and vitrification technology is different from incineration because it produces a clean synthetic gas from waste, which can be used for power generation. PyroGenesis' technology can also turn waste into a glassy rock that can be utilized as construction material. PyroGenesis has marquee defense industry and civilian customers that are using its technology in marine and land-based applications. 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 Company'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 Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company 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 nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE PyroGenesis Canada Inc.For further information:
PyroGenesis Canada Inc.
P. Peter Pascali
Chief Executive Officer