MONTREAL, March 2, 2015 /CNW Telbec/ - PyroGenesis
Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR.V), 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 recently held a successful kick-off meeting at its offices
to officially start production of a first of its kind Tactical
Mobile Plasma System for the Destruction of Chemical Warfare Agents
(the "System"), such as those being dealt with in Syria. This
kick-off meeting involved key individuals from the defence
departments of the different countries which took part in the
previously announced international consortium.
As previously announced, PyroGenesis entered into a two (2)
phase project to develop a plasma-based system capable of
destroying chemical warfare agents (the "Project"). The first
phase of the Project, wherein PyroGenesis designed the System, has
been successfully completed, allowing the Company to effectively
move to Phase 2 of the Project. This second phase entails
fabrication and assembly by PyroGenesis, and testing of the System
by the client.
PyroGenesis is currently in the procurement stage for the long
lead items of Phase 2, with assembly planned to be initiated in the
first half of 2015. The System is scheduled to be delivered to its
clients for testing, using simulated and actual chemical warfare
agents, by the third quarter of 2015. As previously announced, the
clients will invest over $100 million
on testing alone.
During the kick-off meeting, discussions also focused on
PyroGenesis' ability to provide additional services such as
training, maintenance, spare parts, and onsite support
services.
The destruction of massive amounts of chemical weapons is
presently being addressed by a US Army developed technology however
the situation in Syria has
highlighted the urgent need for a tactical mobile unit that can be
readily deployed, have rapid destruction capabilities and generate
no toxic by-products; PyroGenesis' System is expected to meet such
requirements, all with the push of a single button.
"Although we are not privy to the timing of commercial orders,
or the number of units that may be ordered upon successful testing,
we are lead to believe that given the nature of the project, and
the funds being allocated to testing, there is an immediate need
for multiple systems", said P. Peter
Pascali, President and Chief Executive Officer of
PyroGenesis.
About PyroGenesis Canada Inc.
PyroGenesis Canada, a TSX Venture 50® clean-tech 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 (including 3D
printing), 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.