MONTREAL, July 7, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® plasma solutions company that designs,
develops and manufactures plasma waste-to-energy systems and plasma
torch systems, announced today that it has signed a contract with a
major international manufacturer (the 'Customer') for ten
plasma-based, powder production systems for 3D printing. The contract
is for the supply by PyroGenesis of ten of its unique metal powder
production platforms to the Customer over an 18-month period for a
contract value of $12.5 MM. The Customer's name is being withheld for
With this contract in hand, the Company's backlog of signed contracts
now exceeds $20MM or the equivalent of approximately 350% of the
Company's revenues in its previous fiscal year, all of which is
expected to be completed by year end 2015.
"As mentioned in our March 31, 2014 press release, one of the limiting
factors in the full commercialization of 3D printing for metal products
is the availability of high-quality, high-purity metal powder," said P.
Peter Pascali, President and Chief Executive Officer of PyroGenesis.
"Our patented platform can produce these powders effortlessly. It is a
proven product with completed commercial sales having already taken
place in North America and Europe. What is more exciting is the demand
we are currently experiencing for this product line world-wide."
The customer is looking to PyroGenesis and its plasma-based technology
to ensure a strategic and continuous supply of metal powder feedstock
for their own internal 3D printing production use.
"This contract highlights the success PyroGenesis is having with the
focused business development strategy implemented last year; the
effects of which we are only now beginning to see," noted Mr. Pascali,
"and it once again underscores the success PyroGenesis is having in
deploying its core plasma technology to niche, high-margin
According to World 3D Printing (Additive Manufacturing), a report issued by the Freedonia Group in December 2013, world demand
for 3D printers, materials and software will rise 21 percent yearly to
US$5 billion in 2017. This report also highlights faster growth
projections for metals, as well as rapid gains in markets such as
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