PyroGenesis Selected by Advanced Materials and Chemicals Trading House to Supply SPARC™ Land-Based Waste Destruction System
13 September 2022 - 9:30PM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred
to as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions which are geared to reduce greenhouse gases
(GHG), is pleased to announce today that it has been chosen by an
advanced materials and chemicals trading house in the Southern
hemisphere (the “Client”) to provide the Company’s
SPARC™ refrigerant waste destruction system. The Client’s name
will remain confidential for competitive reasons. The system is the
first of two systems that the company has indicated they may
require. With engineering services, ancillary equipment options,
and after-sales support, the ultimate project cost will be between
USD$2-5MM per system depending on final decisions regarding full
deliverables and the final agreement is expected to be signed
before the end of Q2 2023.
“The SPARC™ technology is one of the Company’s
first major technology achievements, which I believe speaks to our
foresight, and our continued R&D, that a legacy system such as
this can be used to address recent trends we are all seeing,
evidenced by the increased demand for environmentally-friendly
waste destruction systems – especially those geared to the
destruction of dangerous or polluting chemicals and gases,” said
Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “Jurisdictions
worldwide are tightening regulations surrounding hazardous waste
disposal, while at the same time trying to stimulate the safe
destruction of hydrocarbons such as refrigerant chlorofluorocarbons
(CFCs), by providing carbon credits to offset costs. This
announcement today underscores the fact that companies are
increasingly recognizing the major role that PyroGenesis’
fossil-free waste destruction systems can play in this movement.
Land-based systems such as our SPARC™ build upon the
foundation of success we have established previously with our
ship-board waste destruction systems for the U.S. Navy’s Gerald R.
Ford-class aircraft carriers.”
As part of a greenfield project, where the
Client has purchased land and are building a new facility, it is
anticipated that PyroGenesis will be designing and building the
SPARC™ refrigerant waste destruction system, while supervising
and supporting contractors in the installation of the facility. The
project has an approximate production-to-delivery timeline of 18
months from final contract signing.
The Client is a major supplier of chemicals and
advanced materials throughout the Southern hemisphere. With a
half-century of experience in logistics, storage, and handling of
materials across a range of applications and industries, the Client
– like PyroGenesis – maintains an ISO 9001 designation in support
of its numerous global partnerships.
PyroGenesis’ patented SPARC™ system is
based on the technology platform originally developed by the
Company for the U.S. Navy and a U.S. Air Force base. It uses
inexpensive steam as the plasma-forming gas to generate a
hydrolysis reaction which destroys refrigerants, leading directly
to significantly reduced operating costs (versus more expensive
gases) and cleaner operations with no incineration. Powered by
electricity, use of the SPARC™ system substantially reduces
carbon footprint, while eliminating ozone-depleting substances. It
also destroys other chemicals such as CFCs, HCFCs, HFCs, Halons,
and PFCs.
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 sustainable
solutions which reduce greenhouse gases (GHG) and are economically
attractive alternatives to conventional “dirty” processes.
PyroGenesis has created proprietary, patented and advanced plasma
technologies that are being vetted and adopted by multiple
multibillion dollar industry leaders in four massive markets: iron
ore pelletization, aluminum, waste management, and additive
manufacturing. 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 operations are ISO 9001:2015
and AS9100D certified, having been ISO certified since 1997. 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.
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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