MONTREAL, Jan. 25, 2012 /CNW/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "Company") (TSX-V: PYR), an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products, today announced that it has started to ship its plasma-based Ozone Depleting Substance (ODS) Destruction System to Recyclage ÉcoSolutions Inc.'s ("RES") Laval facility. Shipment and installation of PyroGenesis' state-of-the-art, patent pending ODS Destruction System will continue through to March, 2012. Commissioning, start up and operation of this system is expected to commence in the second quarter of 2012.
The joint venture agreement between PyroGenesis and RES, signed in May, 2011, will generate $2.65 million in revenue for PyroGenesis, and is part of a larger $4.0 million ODS destruction program initiated by RES.
PyroGenesis' technology will allow RES to safely destroy ozone depleting substances, specifically halocarbons, at RES' Laval-based appliance dismantling and recycling plant. Presently, halocarbons extracted during the recycling process are shipped to remote offsite locations for disposal.
"We are excited to be advancing our partnership with Recyclage ÉcoSolutions, an established recycling leader," said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis. "This partnership has given us the opportunity to validate our technology's efficacy and economic value in halocarbon waste management, an area with substantial potential for our Company going forward. In addition, the modifications we have made to our existing technology for the purposes of this partnership should broaden the applicability of our plasma waste destruction technology into other industrial sectors."
Alain Boisvert, President of Recyclage ÉcoSolutions Inc., commented, "The forward looking technology we are investing in allows RES to offer an integrated service to our clients and responds to a crucial need for a safe and sound halocarbon disposal option in Canada, and in emerging countries."
According to RES, 2009 Canadian sales of refrigerators, freezers and air conditioners exceeded 2.1 million units, adding to the 6.2 million sold prior to 1995, and to the 23.6 million units sold since 1995. More than 950,000 units are disposed of yearly, which represents more than two million tons of CO2 equivalent that can potentially be captured through the optimal removal and management of the halocarbons.
About Recyclage ÉcoSolutions Inc. (www.recyclageeco.com)
Recyclage ÉcoSolutions is a Québec-based company and it is the largest Canadian recycler of household refrigeration and air conditioning appliances. Environmentally harmful materials such as ozone-depleting substances, mercury and oils are recovered at the first North American recycling plant located in Laval, Québec. RES's appliance recycling technology optimally recovers and extracts ODS and Greenhouse Gas (GHG) producing substances from the insulated foam.
The company processes appliances recovered from utility programs in four Canadian provinces (Saskatchewan, Manitoba, Québec and Nova Scotia) and serves public and private utilities in the North-Eastern United States, with its U.S. partner JACO Environmental Inc. RES and Jaco Environmental also have recycling plants in Regina (SK), Winnipeg (MB), Syracuse (NY), East Brunswick (NJ), and Franklin (MA).
About PyroGenesis Canada Inc. (www.pyrogenesis.com)
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.
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.
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For further information:
Chief Executive Officer
P. Peter Pascali