MONTREAL, July 21, 2015 /CNW Telbec/ -PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR), 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 signed a previously announced exclusive marketing license agreement (the "Agreement") with Yasui Facilities, Inc. ("Yasui") of Japan.
Yasui is one of Japan's preeminent Architectural/Engineering firms who works with a consortium of companies that, amongst other projects, build incinerators. Yasui provides the local engineering and permitting expertise that PyroGenesis requires to conclude various contracts under discussion.
As previously announced, the terms of the Agreement provide Yasui with an exclusive license to market PyroGenesis' line of plasma waste processing systems in Japan for a period of five (5) years with an automatic five (5) year renewal option based on certain performance milestones.
In exchange for such exclusivity, Yasui will pay PyroGenesis an exclusivity fee of $1.5MM in one installment, to take effect upon receipt of the Japanese permit, which is expected in less than one (1) year. In addition, Yasui undertakes to pay all costs associated with the Japanese permitting process, which are estimated to run into the $100,000's, and which have already commenced. Yasui also undertakes to reimburse PyroGenesis for future costs incurred in developing the Japanese market. On the same note, PyroGenesis' Business Development Manager responsible for the Asian market has been in Japan for the past two (2) months supporting Yasui's permitting and marketing efforts.
This Agreement has effectively enabled PyroGenesis to bypass the traditional method of penetrating the Japanese market, which is usually via local trading houses, and, as such, has allowed the Company to save a substantial amount in middle-man fees.
"We are currently in discussion with end users for sales of groupings of products," said P. Peter Pascali, President & CEO of PyroGenesis, "with each grouping being independent from one another. For instance, we are currently discussing groupings of 50 TPD waste treatment systems; hospital/low level radioactive waste systems; multiple small transportable mobile systems; and several other niche applications. We don't expect any of these contracts to close before Q4-2015. However, we are highly confident that we will close something of significant value by year end."
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). 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: P. Peter Pascali, Chief Executive Officer, Phone: (514) 937-0002, E-mail: [email protected]