MONTREAL, June 5, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), an environmental solutions company that designs, develops
and manufactures plasma waste-to-energy systems and plasma torch
products, announced today that it has been awarded a contract to
engineer a Tactical Mobile Plasma System for the Destruction of
Chemical Warfare Agents such as those being dealt with in Syria. This
has been the successful result of extensive discussions with specialty
military groups over the past 18 months.
Whereas the destruction of massive amounts of chemical weapons is being
addressed by a US Army developed technology, the situation in Syria has
highlighted the urgent need for a tactical mobile unit that can be
readily deployed, have rapid destruction capabilities and generate no
toxic by-products. "PyroGenesis' proposed solution will meet these
requirements with the push of a single button", said P. Peter Pascali,
President and Chief Executive Officer of PyroGenesis Canada Inc..
"Delivering a technology that can be dropped off the back of a plane in
the harshest environment to instantaneously destroy some of the most
dangerous substances known to man has significant commercial
ramifications. The system is scalable and, as such, larger units can
be delivered for the in situ destruction of both hazardous chemicals
and biological threats. The risk and expense of moving toxic
substances will soon be avoided through the deployment of a PyroGenesis
Tactical Unit", said Gillian Holcroft, Executive Vice President,
This mission is comprised of two phases, the first of which has been
contracted and under which PyroGenesis is currently working. Funds for
the second phase have been allocated but have not yet been contracted
for. Delivery of this Tactical Plasma System is expected to be
completed in 2014 for total revenues of approximately $1.5 Million.
PyroGenesis' reputation of providing unique high performing plasma based
solutions, combined with its long standing relationship with the US
Navy to provide easy to operate and reliable plasma based waste
destruction systems, made PyroGenesis an obvious choice for this
mission. As currently envisioned, PyroGenesis is the only technology
being considered as a tactical mobile unit by its client. Under this
contract, PyroGenesis is to engineer a self-contained mobile tactical
unit as part of Phase 1; Phase 2 will include the fabrication and
delivery of the plasma unit to a consortium that will test it using
simulated and actual chemical warfare agents.
"We are confident that we will receive funds for Phase 2, but given the
international and complex nature of the project and the constantly
changing situational landscape, although unlikely, it should be noted
that Phase 2 could be delayed or cancelled" said P. Peter Pascali,
President and Chief Executive Officer of PyroGenesis Canada.
"We can feel proud that PyroGenesis has been recognized by some of the
most discerning members of the international community as a Company
that can provide the technology, and to whom they have turned to, to
help resolve this problem that has received global attention", said
Gillian Holcroft, Executive Vice President, Strategic Alliances.
"This opportunity arose as a natural extension of PyroGenesis' strategy
to focus on niche high value markets that leverage off of PyroGenesis'
core competency of being leaders in plasma based solutions," said P.
Peter Pascali, President & Chief Executive Officer of PyroGenesis
Canada., "and, as such, we expect to continue to be involved in
discussions with the military as the problem of chemical weapon
destruction is debated and evolves."
About PyroGenesis Canada Inc.
PyroGenesis Canada, a TSX Venture 50® company, is the world leader in
the design, development, manufacturing and commercialization of
advanced plasma processes. We provide engineering and manufacturing
expertise, cutting-edge contract research, as well as turnkey process
equipment packages to the defense, metallurgical, mining, advanced
materials, oil & gas, and environmental industries. With a team of
experienced PyroClassTM engineers, scientists and technicians working out of our Montreal
office and our 3,800 m2 production 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
9001:2008 certified, and have been since 1997. PyroGenesis is a
publicly-traded Canadian company on the TSX Venture Exchange (Ticker
Symbol PYR.V). 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
CO: PyroGenesis Canada Inc.