MONTREAL, Jan. 14, 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 secured the ownership rights from a multinational Mining and Metallurgical Company ("Client"), which has requested that its name be withheld for competitive reasons, for their metallurgical powder producing pilot plant.
This state of the art pilot plant is currently located at PyroGenesis' manufacturing facility in Montreal. PyroGenesis was able to negotiate a transaction in which they will acquire the equipment from its Client at no cost to PyroGenesis. The value to design and fabricate this pilot facility was approximately $2M CAD.
"This opportunity is 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. With the acquisition of this equipment, PyroGenesis is now in a position to pursue opportunities for advanced metallurgical powder production, such as nanoparticles, which is a rapidly growing business area", said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis.
"Plasma based processes are ideally suited for the production of high quality and highly traceable nanoparticles and other advanced materials. The flexibility of the pilot equipment, will allow PyroGenesis to promote novel processing solutions for a wide range of advanced materials and powders ranging from light metals to nano-materials" said Gillian Holcroft, Executive Vice President- Strategic Alliance for PyroGenesis.
"The appetite to invest in new technologies, especially in the area of advanced materials, is on the rise with Europe and the United States leading with over $2 Billion in nanotechnology spending. Our analysis of this market sector has revealed that the annual growth for these advanced materials will reach 19 percent p.a. in the Energy Sector and 17 percent p.a. in the Environmental Sector. Applications for nanotechnology include coatings, catalysts, super-capacitors, pharmaceutical products and most recently 3D printing." said P. Peter Pascali, President and Chief Executive Officer of 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
E-mail: [email protected]