PyroGenesis Signs Agreement with Tier One Global Aerospace Company for Qualification of Additive Manufacturing Powders
20 April 2021 - 9:55PM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY) (the “Company” or “PyroGenesis”), a
high-tech company that designs, develops, manufactures and
commercializes plasma atomized metal powder, environmentally
friendly plasma waste-to-energy systems and clean plasma torch
products, is pleased to announce the signing of a qualification
agreement (the “Agreement”) with a premier global aerospace company
(the “Client”) for the production of metal powders.
Under this Agreement, the Client will perform a
standard qualification process typically required before a company
can become an approved supplier. The process will, amongst other
things, evaluate the Company’s manufacturing methods, test samples
of powder for batch-to-batch consistency and determine mechanical
and chemical properties. Subsequently, larger volumes of powder
will be used to print test coupons to further evaluate mechanical
and chemical properties. It is expected that testing with real
parts under real time conditions would be in order before final
acceptance. Upon passing all acceptance tests, the process will be
locked down specifically for the Client, with no additional
modifications permitted. Upon successful completion of the testing,
PyroGenesis would expect to receive formal acceptance as an
approved supplier.
The qualification process has now formally
commenced, and the first powder samples are expected to be
delivered within the next several weeks.
“This Agreement with one of the world’s largest
aerospace companies is a very significant achievement in further
validating PyroGenesis’ additive manufacturing powder offering
utilizing our NexGen™ production, which provides significant cost
and production advantages,” said Mr. P. Peter Pascali, CEO and
Chair of PyroGenesis. “This Agreement has been a long time in the
making. The Client has visited our facilities and has evaluated our
production process, and both parties have been eagerly awaiting the
completion of our NexGen™ production line, which we announced
earlier this week. It is important to realize that the
qualification process is not only exhaustive and time-consuming,
but also quite costly for this aerospace Client which we believe
underscores their confidence in the added value and competitive
differentiation of our offering. With the previously announced
improvements now incorporated into our game-changing powder
production line, we are all highly confident in our ability to
meet, if not exceed, this Client’s stringent requirements. We fully
expect to enter into similar agreements with other major players in
the industry over the next several months.”
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a leader in the design, development, manufacture and
commercialization of advanced plasma processes and products. The
Company provides its engineering and manufacturing expertise and
its turnkey process equipment packages to customers in the defense,
metallurgical, mining, advanced materials (including 3D printing),
and environmental industries. With a team of experienced engineers,
scientists and technicians working out of its Montreal office and
its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis
maintains its competitive advantage by remaining at the forefront
of technology development and commercialization. The Company’s core
competencies allow PyroGenesis to provide innovative plasma
torches, plasma waste processes, high-temperature metallurgical
processes, and engineering services to the global marketplace.
PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified.
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 Corporation'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 Corporation with respect to future events and are
subject to certain risks and uncertainties and other risks detailed
from time-to-time in the Corporation's ongoing filings with the
securities regulatory authorities, which filings can be found at
www.sedar.com, or at www.sec.gov. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Corporation 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 Toronto Stock Exchange, its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) nor the NASDAQ Stock
Market, LLC accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BDPhone: (514)
937-0002, E-mail: ir@pyrogenesis.com
RELATED LINK: http://www.pyrogenesis.com/
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