MONTREAL, Jan. 14, 2016 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® clean-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announced today that it has been awarded a US $299,886 contract by the U.S. Department of Defense as part of its ongoing project to destroy chemical warfare agents. This contract is to demonstrate the viability of using PyroGenesis' existing plasma chemical warfare agent destruction platform with locally available materials, for the complete eradication of chemical warfare agents without creating hazardous by-products (the "Contract"). The Contract is supported by the U.S. Army Research Office.
As previously announced, PyroGenesis developed a first of its kind Tactical Plasma Arc Chemical Warfare Agent Destruction System (the "System") for a multi-national military consortium, which was developed to rapidly and safely destroy chemical warfare agents. "In developing this System, PyroGenesis expects to neutralize dangerous chemicals and chemical weapons without creating any hazardous by-products," said Pierre Carabin, Director of Engineering of PyroGenesis.
The Contract announced today is related to a program initiated by the U.S. Defense to identify technology companies capable of developing a transportable disposal system which could convert dangerous chemical warfare agents into a safe end-product, such as soil, while using minimal consumables and creating no hazardous by-products. Ultimately, the goal of the program is to develop a "one size fits all" technology to destroy any chemical warfare agents without requiring water or generating waste for post-processing.
"Recognizing both PyroGenesis' success with the U.S. Department of Defense, and its current advances with a multi-national military consortium in testing a first-of-its-kind Tactical Mobile Plasma System, PyroGenesis has been awarded this Contract to demonstrate how its current plasma process can be adapted to meet the program's specific objectives," said Mr. P. Peter Pascali, President and CEO of PyroGenesis. "A successfully developed system would safely destroy chemical warfare agent stockpiles onsite without having to transport these highly toxic chemicals to a remote location for processing."
"Being awarded this Contract," added Mr. Pascali, "reflects the significant advances that we, at PyroGenesis, are achieving, and expect to continue to achieve, in the area of defense and chemical warfare agent destruction."
Of note, the content of this news release does not necessarily reflect the position or the policy of the U.S. Government.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® clean-tech company, is the world leader in the design, development, manufacture 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 (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 9001:2008 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, 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 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.
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SOURCE PyroGenesis Canada Inc.
For further information: P. Peter Pascali, President and Chief Executive Officer, Phone: (514) 937-0002, E-mail: [email protected]