PyroGenesis Announces Receipt of New Military Contract for Can$325,000 Bringing Total Orders Received to Over Can$1.8 Million

Additional Contracts of Can$280,000 Expected Before Year End

MONTREAL, Dec. 13, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech corporation (the “Corporation” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has received a military contract for US$255,000 (Can$325,000).

The Corporation had previously announced in a press release dated July 17, 2017, that it had received payments totaling US$925,122 (Can$1.2MM) under a separate military contract worth US$978,312 (Can$1.25MM).  This contract is now complete, and all payments have been received.  Since then, the Corporation has received a number of small contracts, relating to its current military business lines, with a total value exceeding US$1.2MM (Can$1.8MM), including the contract announced today. Approximately Can$1.3MM of this amount is in current backlog. The Corporation expects to receive an additional US$218,000 (Can$280,000) of similar contracts before year end. These contracts are expected to be completed by Q1-2018.

“Our traditional business lines, other than non-additive manufacturing, continue to contribute significantly to the bottom line as can be seen from today’s announcement,” said P. Peter Pascali, President and CEO of PyroGenesis. “PyroGenesis is entering 2018 with the expectation that the Corporation’s non-additive manufacturing business lines will generate enough revenues, on their own in 2018, to make PyroGenesis profitable overall. In fact, we expect to achieve these results from DROSRITE™ sales alone, and that is before any contributions from additional military sales, such as a third plasma based waste destruction system for a US Aircraft Carrier which is expected in 2018. All in all, 2017 has proven to be the pivotal year we expected it to be, and 2018 is shaping up to be even better.”

About PyroGenesis Canada Inc. 
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides technical and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and technical services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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.otcmarkets.com. 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 TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

 

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PyroGenesis Signs Non-Disclosure Agreement with Second Global Aircraft Engine Manufacturer

MONTREAL, Quebec, Dec. 04, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech corporation (the “Corporation” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has signed a non-disclosure agreement (“NDA”) with a second global aircraft engine manufacturer. The name of the Client has been withheld and will remain confidential for competitive reasons.

“We are very happy to have signed an NDA with a second global aircraft engine manufacturer in less than a month, and we look forward to developing a more substantive relationship with them,” said P. Peter Pascali, President and CEO of PyroGenesis. “I must once again caution readers not to draw any premature conclusions from this announcement. Though, once again, it does signal an interest in our capabilities, and yes, that interest does come from a very discerning, demanding, and sophisticated party, we are still at the very preliminary stages and there is no guarantee that anything of any commercial value will materialize from these efforts. We feel that these recently concluded NDAs are material in the sense that they confirm both our strategy to become a powder producer to the additive manufacturing industry, as well as our premise that there is a significant demand within the additive manufacturing industry for our products.” 

PyroGenesis is the inventor of Plasma Atomization – a plasma-based process that produces small, spherical, metal powders for the Additive Manufacturing (“AM”) industry, particularly 3D printing, and which has become the gold standard.

The Corporation recently announced the successful completion of the ramp-up of its first (1st) plasma atomization system since announcing, in 2015, that it would become a supplier of powders to the AM industry. During ramp-up, the Corporation not only received several sample purchase orders, but also developed new Intellectual Property which effectively allows the manufacture of very narrow particle size distributions, at higher production rates, with little-to-no waste. The Corporation feels that this breakthrough could be even more game changing than its original Plasma Atomization patent.

About PyroGenesis Canada Inc. 
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides technical and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and 3,800 m2 (approx. 40,900 square feet) manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and technical services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com

About PyroGenesis Additive.
PyroGenesis Additive, a division of PyroGenesis Canada Inc., the inventor of Plasma Atomization, specializes in providing plasma atomized spherical metallic powders with some of the most spherical, pure, dense, and highly flowable properties, which are highly sought after in the Additive Manufacturing (“AM”) Industry. With PyroGenesis’ extensive plasma expertise, PyroGenesis Additive is not only able to convert traditional metals and alloys into high purity spherical powders, but also create specialty powders on an exclusive basis. The versatility of the process allows PyroGenesis Additive to quickly adapt to a customer’s needs both in terms of Particle Size Distribution (PSD), and type of metal powders required. The metal powders produced by PyroGenesis Additive are ideal for the additive manufacturing, aerospace, biomedical, thermal spray, and metal injection molding industries.

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.otcmarkets.com. 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 TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com 



PyroGenesis Announces Q3-2017 Results: Cash Flow Positive on EBITDA (Modified) Basis; Revenues Increase by 7%; Positive Gross Margin of 57%; Current Backlog $7.41MM

MONTREAL, Nov. 28, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today its financial and operational results for the third quarter ended September 30, 2017.

Results for the first nine (9) months, and Q3, of 2017 reflected the following:

  • Nine (9) month revenues increased 58% to $5.90MM over that of $3.74MM posted in the same period in 2016;
  • Revenues for Q3 2017 increased 7% to $2.03MM over that of $1.9MM posted in the same period in 2016.
  • Gross Margin Before Amortization of Intangible Assets increased to 52.2% in the first 9 months of 2017 from 42.5% posted over the same period in 2016.
  • Gross Margin After Amortization of Intangible Assets increased to 52.2% from 14.5% over the same period in 2016.
  • Gross Margin Before Amortization of Intangible Assets decreased to 57.1% in the third Quarter of 2017, from 64.2% posted in the same period in 2016.
  • Gross Margin After Amortization of Intangible Assets increased to 57.1% from 45.8% over the same period in 2016.
  • Most importantly, for the first nine months of 2017 EBITDA (mod.) improved to a loss of $73.8K as compared to an EBITA (Mod.) loss of $1.1 Million posted in the same period of 2016.
  • For Q3 2017 we posted an EBITA (Mod.) of $92K versus that of $239K for the same period in 2016.
  • Backlog of signed contracts as of the date of this writing is $7.41MM.    

At year end 2016, we described the preceding twelve months as being a pivotal year for PyroGenesis as the Company shifted its focus away from being a fabricator of plasma-based systems that produced unique titanium powders, in favour of becoming a producer of metal powders for the Additive Manufacturing Industry (the “Industry”).

Given their unique properties (pure, small, spherical, and uniform) which make them flow like water these powders are greatly sought after in the Industry, particularly for 3D printing. Given this strategic shift, together with the backlog of signed contracts from our non-additive manufacturing business (“Core/Traditional Lines of Business”), we projected that 2017 was shaping up to be a break out year for PyroGenesis, and the first nine months of 2017 have not been disappointing as (i) our powder production system comes on-line (ii) an order for a second DROSRITE™ system from an existing client (iii) US  Navy poised to order a 3rd waste destruction system, and (iv) our chemical warfare weapon destruction system is in the testing phase.

What is important to note is that these results reflect revenues from what we call our Core/Traditional Lines of Business (with little to no revenues from powder sales).  During this period we completed our first powder production system which following certain improvements came on stream in Q1-2017 and ramped up to full production mode during Q3-2017 and is now complete.

We are more convinced than ever before that 2017 is becoming the break out year for which we have positioned the Company for a number of reasons:

  • The healthy gross margins established in 2016 (before consideration of the 2016 write-offs) have improved, and are expected to continue to improve once powder production is in full swing.
  • Established backlog of signed contracts,
  • Our Core/Traditional Lines of Business are poised to contribute significantly to the bottom line and be both profitable and significant in their own right.

The following is a non-exhaustive review of PyroGenesis’ main commercial activities:

A)    Powder Production: The Company has met every major milestone previously announced on the road to making metal powders for the Industry; particularly, the completion of the assembly of its first powder production system; the first powder run; and the completion of ramp-up.

Also, as previously announced in recent press releases, interest has far exceeded management's expectations as several initial contracts were received for sample powders during the ramp-up phase. Furthermore, the Company announced having signed several agreements with significant players in the Industry, whereby the Company is in discussions regarding the possibility of concluding business relationships or transactions geared to the production of its powders.

These discussions are continuing as the Company actively expands the number, and type, of agreements it is entering into with potential clients.  The Company cannot comment on the specific details of these discussions, or communicate the comments that it has received with regards to the samples provided, other than to say that nothing negative has been reported.  

Of note, during the first nine months of 2017, not only was the Company’s first powder production system completed but the Company successfully delivered sample orders for Titanium powder, as well as for Inconel powders. Furthermore, during this period, the Company announced one of the most significant developments to date, possibly even more significant than the Company’s original invention of Plasma Atomization, which is that it has developed a new plasma-based process that provides significant control over its particle size distributions with little to no waste and which, in turn, has enabled the production of MIM cut powders in quantity.

The current system is the first of many PyroGenesis expects to make in order to address an increasing need for metal powders in the Industry1.

B)     DROSRITETM:   As the Company positioned itself, during the first 9 months of 2017, to become a significant powder producer to the Additive Manufacturing Industry, it also positioned its DROSRITETM Furnace System to become a fully commercial product line in and of its own right.

The DROSRITETM Furnace System was proven at a North American customer’s Mexican facility during the first half of 2016.  Soon thereafter, a successful demonstration of the DROSRITE™ System took place in the Middle East, following which an unsolicited request to exclusively market the process in the region was received, and is, as of this writing, in the closing months of being concluded. The Company has also received a request to demonstrate DROSRITE’s™ capabilities in India in early 2018. This flurry of activity and interest for the DROSRITE™ System resulted in the Company dedicating a full time business development manager to market the DROSRITE™ System. 

With the recent announced reorder for a DROSRITE™ system by an existing client, management believes it has succeeded in positioning DROSRITE™ as a fully commercial product line.

The market potential for PyroGenesis’ DROSRITE™ System from aluminium dross alone exceeds $400MM.

C)  HPQ: On August 2, 2016, PyroGenesis announced that it had signed contracts totalling CAN$8,260,000 with HPQ Silicon Resources Inc., formally Uragold Bay Resources Inc. (“HPQ”) for the sale of IP and to provide a 200 metric tonne (MT) per year PUREVAPTM pilot system to produce silicon metal directly from quartz. Of particular note, if successful, PyroGenesis benefits from a 10% royalty on all revenues derived from the use of this system by HPQ, subject to annual minimums.

D)  Chemical Warfare Destruction System: The Company recently announced that PyroGenesis has, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company’s tactical Plasma Arc Chemical Warfare Agents Destruction System (“PACWADS”) against surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and far exceeded minimum requirements with over 99.9999% destruction efficiency.  The PACWADS has been delivered to the testing site and is currently going through final testing using real chemical warfare agents.  The completion of these tests has been delayed due to unrelated program testing schedules. The testing timeline is out of the Company’s control but now looks like it will be concluded in early 2018.

E)   Other Contracts:  The Company is in discussions relative to other contracts such as a third order for a PAWDS for a New US Aircraft Carrier which is expected to be ordered sometime in the first half of 2018 with an estimated value of approximately $6MM and the sale of the Company’s SPARC system.

Management remains focused on reducing PyroGenesis’ dependency on long-cycle projects by developing a strategic portfolio of volume driven, high margin/low risk products that resolve specific problems within niche markets, and doing so by introducing these plasma-based technologies to industries that have yet to consider such solutions. 

Management is also actively targeting recurring revenue opportunities that will generate a growing, and profitable, regular cash flow to the Company.

PyroGenesis has one of the largest concentrations of plasma expertise in the world, with over 250 years of accumulated technical experience and 54 patents (issued/pending), combined with unique relationships with major universities performing cutting edge plasma research and development, which positions the Company well to execute upon its various strategies.

Financial Summary

Revenues

The Company posted revenues of $2,026,557 in the third quarter of 2017 (“Q3, 2017”), representing an increase of 7% compared with $1,902,748 recorded in the third quarter of 2016 (“Q3, 2016”). Revenue recorded in Q3 2017 was generated primarily from (i) the development of a vacuum arc reducing process to convert Silica into high purity Silicon metal, (ii) manufacture and further field testing of Tactical PACWADS, the first mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, (iii) the demonstration of the viability of PyroGenesis’ existing plasma chemical warfare agent destruction platform with locally available materials, for the complete eradication of chemical warfare agents without creating hazardous by-products, and (iv) support services related to PAWDS-Marine systems supplied to the US Navy.

Cost of Sales and Services and Gross Margins

Cost of sales and services before amortization of intangible assets was $870,352 in Q3, 2017, representing an increase of 28% compared with $682,105 in Q3, 2016. Total costs of sales and services, was $870,352 representing a decrease of 16% compared with $1,031,373 in Q3, 2016.

Various factors, including, but not limited to, the mix of long and short-term manufacturing projects, project complexity and scale, and project R&D content, may significantly impact both the composition and overall level of cost of sales and services reported in a given period, as the mix of labor, materials and subcontracts may be significantly different.

The costs incurred in Q3, 2017 are primarily attributable to the work completed under PyroGenesis’ project to develop a vacuum arc reducing process to convert Silica into high purity Silicon metal, work completed on the tactical mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, and support services related to PAWDS Marine systems supplied to the US Navy.

Investment tax credits recorded against cost of sales are primarily related to client funded projects that qualify for tax credits from the provincial government of Quebec. Qualifying tax credits increased to $88,338 in Q3, 2017, compared with $16,354 in Q3, 2016. This represents an increase of 440% quarter-over-quarter. The Company continues to make investments in research and development projects incorporating the involvement of strategic partners and government bodies.

In Q3, 2017, the gross margin before amortization of intangible assets was $1,156,205, which represents 57% of revenue. This compares with a gross margin before amortization of intangible assets of $1,220,643 (64% of revenue) for Q3, 2016.

The amortization of intangible assets of Nil in Q3, 2017 ($349,268 in Q3, 2016) relates to the licenses and know-how purchased in 2011 from a company under common control. This expense is a non-cash item and the underlying asset was fully amortized by December 31, 2016.

Selling, General and Administrative Expenses

Selling, general and administrative expenses (“SG&A”) for Q3, 2017 were $1,160,752, representing a decrease of 17% compared with $1,397,638 reported for Q3, 2016. Excluding the costs associated with share-based compensation (a non-cash item in which options vest over a four-year period), SG&A expenses increased by 4% in Q3, 2017 compared with Q3, 2016.

The increase in SG&A expenses is attributable to the net effect of (i) an increase of 13% in employee compensation, (ii) a decrease of 31% for professional fees, primarily due to a decrease in accounting fees and deferred patent expenses, (iii) an increase of 16% in office and general expenses, due to an increase in computers and internet expenses, (iv) travel costs increased by 157%, due to an increase in travel abroad, (v) depreciation on property and equipment decreased by 12%, asset under development in Q3 2017 will begin to be depreciated when the asset is available or ready for use, (vi) government grants increased by 100% due to a higher level of activities supported by such grants, (vii) other expenses increased by 31%, primarily due to the higher cost of freight and shipping, and (viii) a decrease in share base payments of 65%  primarily due to the vesting structure of the stock option plan and the stock options exercised to date.

Total Comprehensive Loss

The comprehensive loss for Q3, 2017 was $360,083 compared to a loss of $717,041 in Q3, 2016, representing a decrease of 50% quarter-over-quarter. 

The decrease of $356,958 in the comprehensive loss in Q3, 2017 is primarily attributable to: (i) an increase in product and service related revenue of $123,809, (ii) an increase in cost of sales and services totaling $188,249 as explained above (iii) a decrease in amortization of intangible assets of $349,268, (iv) a decrease in SG&A expenses of $236,886 as explained above, (v) an increase in R&D expenses of $37,668 primarily due to the fact that many of the Company’s engineering and R&D resources were concentrated on activities within projects under construction for clients, with such costs being recorded within cost of sales, (vi) an increase in net finance costs of $127,090 due to a decrease in the fair value of investments of $115,513 compared to the same period in 2016.

EBITDA

The EBITDA loss in Q3, 2017 was $161,094 compared with an EBITDA loss of $176,553 for Q3, 2016, representing a decrease of 9%.

EBITDA (Mod.) gain in Q3, 2017 was $91,713 compared with an EBITDA (Mod.) gain of $238,860 for Q3, 2016. The decrease of $147,147 in the EBITDA (Mod.) in Q3, 2017 is mainly attributable to the decreased comprehensive loss of $356,958, a decrease in depreciation on property and equipment of $3,808, a decrease of $349,268 in amortization of intangible assets, an increase in finance charges of $11,577, a decrease in share-based payments of $278,119, and a decrease in the fair value of investments of $115,113.

Liquidity

As at September 30, 2017, the Company had cash on hand of $317,931 and negative working capital of $5,590,101 compared with a cash balance of $385,257 and negative working capital of $2,079,353 as at December 31, 2016.

About PyroGenesis Canada Inc. 
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil and gas, and environmental industries.  PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization with a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

 

 

 

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PyroGenesis Announces Receipt of $508,000 Down Payment on Previously Announced Sale of Second DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer

MONTREAL, Nov. 27, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today, further to its press release of November 16, 2017,  the receipt of the amount of US$ 400,000 (Can $508,000) as a down payment for the sale of a second commercial DROSRITE™ furnace system (the "System") to a North American automobile parts manufacturer (the "Client") which System is scheduled to be delivered in Q2-2018. The name of the Client has been withheld and will remain confidential for competitive reasons.

“This is an important order because it is the second commercial System sold to date and is the first re-order of a DROSRITE™ system from an existing client, and incidentally this order is a carbon copy of the first,” said Mr. Peter Pascali, President and CEO of PyroGenesis Canada Inc. “More importantly, our ability to have secured a higher price for this System (Can $1.02 Million) over the first System (Can $600,000) from the same Client, underscores what we have said all along, which is that PyroGenesis’ DROSRITE™ system provides significant value to end-users.”

PyroGenesis' DROSRITE™ system is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. PyroGenesis' patented process avoids costly loss of metal while reducing a smelter's carbon footprint and energy consumption, providing an impressive return on investment.

“With aluminum manufacturers being subjected to increased pressure from regulatory authorities to eliminate landfilling of hazardous salt cakes from traditional recovery operations, combined with tight operating margins, PyroGenesis’ DROSRITE™ system is able to (i) increase metal recovery from waste, without producing any hazardous by-products, while at the same time (ii) reducing operating costs,” said Mr. Pierre Carabin, Chief Technology Officer of PyroGenesis.

“We expect DROSRITE™ to start becoming a significant contributor to our non-additive business segment in 2018,” said Mr. Pascali. “Not only does our existing Client have a need for an additional three Systems, which we expect will be ordered/delivered in 2018, but as previously disclosed, negotiations for the purchase of several DROSRITE™ systems continue with a client in the Middle East and, separately, a pilot demonstration of the DROSRITE™ system is scheduled for Q1-2018 in India.  Amongst all this activity we recently hired a fulltime business development Account Manager whose role is exclusively to secure DROSRITE™ system sales. We are aggressively targeting both primary aluminum smelters in Asia and the Middle East where the market is estimated to be in excess of 1 million tonnes of dross1, as well as tertiary casting producers worldwide. These two markets alone represent a potential market for DROSRITE™ systems numbering in the hundreds of units.  2018 is shaping up to be a good year for DROSRITE™ system sales.”

Separately, PyroGenesis is pleased to announce today that Mtre Ilario Antonio Gualtieri has joined the Company as Senior Legal Counsel and Corporate Secretary of the Board of Directors effective November 22nd, 2017. Mtre Gualtieri was admitted to the Quebec Bar in 1984 and has over 30 years of experience in corporate and commercial law including, amongst other things, mergers and acquisitions, share purchase agreements, letters of intent, joint venture agreements and commercial litigation.

It is with regret that the Company also announces the departure, effective December 8th, 2017, of Mtre Vanessa Romano who will be leaving PyroGenesis to pursue other opportunities. We thank Mtre Romano for her contributions, and wish her well in her future endeavors.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil and gas, and environmental industries.  PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization with a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

1 http://www.world-aluminium.org/statistics/primary-aluminium-production/

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PyroGenesis Announces $1.02 Million Sale of 2nd DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer

MONTREAL, Nov. 16, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has received a purchase order, in the amount of US$ 800,000 (Can$ 1.02 million), for the sale of a second (2nd) DROSRITE™ Furnace System (the “System”) to a North American automobile parts manufacturer (the “Client”).

The system is the second (2nd) commercial System sold to date and represents a re-order from the Client; the name of which remains confidential for competitive reasons. Delivery is scheduled to be in Q2-2018, and the contract calls for a fifty percent (50%) down payment and ten percent (10%) holdback.

PyroGenesis’ DROSRITE™ System is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. PyroGenesis’ patented process avoids costly loss of metal while reducing a smelter’s carbon footprint and energy consumption, providing an impressive return on investment.

“With aluminum manufacturers being subjected to increased pressure from regulatory authorities, requiring them to eliminate landfilling of hazardous salt cakes from traditional recovery operations, combined with tight operating margins, PyroGenesis’ DROSRITE™ System is able to (i) increase metal recovery from waste, without producing any hazardous by-products, while (ii) reducing operating costs,” said Mr. Pierre Carabin, Chief Technology Officer of PyroGenesis.

Additionally, as previously announced, PyroGenesis had received an unsolicited offer from a waste management company to be the sole distributor of PyroGenesis’ DROSRITE™ System within the Gulf Cooperation Council (the “GCC”). A successful DROSRITE™ demonstration was conducted at a major aluminum smelter, following which a formal visit took place at PyroGenesis’ facility in Montreal, Canada. Negotiations for the sale of DROSRITE™ Systems are currently underway.

Separately, a potential client from India has engaged PyroGenesis to perform a pilot demonstration at its manufacturer facility. The pilot system is currently being deployed to India for a demonstration scheduled in Q1-2018.

“PyroGenesis has recently hired a dedicated business development professional to address the growing demand for DROSRITE™,” said Massimo Dattilo, VP, Business Development of PyroGenesis. “Given our existing Client’s need for an additional 2 systems; combined with the continuing demand from the Middle East; and the fact that the Company’s demonstration unit is currently in-transit to India, all reflects, we believe, DROSRITE™’s success at addressing a serious need within the aluminum industry. The Company is currently targeting primary aluminum smelters in Asia and the Middle East where the market is estimated to be in excess of 1 million tonnes of dross1, as well as tertiary casting producers worldwide, all of which we expect will represent a potential requirement for DROSRITE™ systems numbering in the hundreds of units.”

“We expect DROSRITE™ to be a significant contributor to the operations of our non-additive business segments,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “It underscores the success of our strategic plan in targeting high value niche problems in various industries. The fact that we have one of the largest concentrations of plasma expertise, under one roof, gives us the unique advantage of being able to target, and address, these opportunities.”

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

___________________________
1 http://www.world-aluminium.org/statistics/primary-aluminium-production/

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PyroGenesis Additive to Reveal Completion of Powder Performance Characterization Results by Independent Parties at FormNext

MONTREAL, Nov. 13, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that its powder performance characterization program (the “Program”), for Titanium (Ti64 ELI) powders, by independent parties, has been completed, and will be revealed at FormNext this week in Frankfurt, Germany. FormNext is the leading trade fair for the Additive Manufacturing (“AM”) industry.

The Program consisted of: 

i) Powder Analysis: an analysis of the properties of PyroGenesis’ titanium (Ti64) powders in comparison to a well-known titanium powder supplier, and 

ii) Performance Testing: testing the performance of these powders on one of the most widely installed metal 3D printers1, using the manufacturer’s settings, and generating a Material Data Sheet (“MDS”) which, management believes, compares favorably to those available in the marketplace.  

The powder analysis was performed by an independent laboratory, who analyzed common powder properties such as sphericity, density and purity, using a cutting-edge digital imaging technique. During this process, PyroGenesis’ titanium powders were scanned using a Nikon XT H 225 X-ray m-CT system. The volume was then reconstructed with a voxel size of 1.1 µm3 and analyzed with the Dragonfly V3 powder analysis routine. The aspect ratio, equivalent diameter, volume and porosity of the powder were evaluated. 

“We consider a perfect powder to be highly spherical, fully dense, and pure,” said Mr. Pierre Carabin, Chief Technology Officer of PyroGenesis. “Our powders were sent to an independent lab for analysis, and when tested, reflected a high level of sphericity, little-to-no porosity, with exceptional purity. These combined results make, in my opinion, our powder exceptional in the market.”

The second part of the Program, which was performed by an independent university research team, consisted of testing PyroGenesis’ powders on one of the most widely installed Selective Laser Melting (SLM) type printers, to produce test parts, collect performance parameters, and generate a MDS specific to PyroGenesis’ titanium powders. The results were found to compare favorably with those presently available in the marketplace.

__________
1 Wholer’s Report 2016

Printer OEMs characterize powders on their printers to provide a MDS which highlights the expected performance of a specific part produced, using a specific powder, on a chosen setting. Typically, printer OEMs provide predefined parameter settings for each material with the goal of optimizing a specific aspect of the print job (for example, one setting may optimize quality while another typically optimizes productivity, i.e. faster build rate).

PyroGenesis worked with the university research team to generate a PyroGenesis’ MDS which outlines the performance parameters of PyroGenesis’ titanium powders on an EOS M 280 400W printer, at the manufacturer’s standard settings, to optimize quality. The results produced equivalent, or better, results than those widely accepted. 

PyroGenesis is currently in the process of determining, and generating, two (2) additional performance MDS for the same printer, but now focusing on productivity, i.e. build rate. The first (1st) data sheet will be generated using the manufacturer’s standard settings for productivity, while the second (2nd) will be generated at a setting optimized to take advantage of the specific characteristics of PyroGenesis’ powders.  

“Given the data received to date, we expect that the build rate will be significantly higher, for the same quality than that currently available,” said Mr. Pierre Carabin. “These results are excepted within the next four (4) months.”

“The economic value of a printer lies in the build rate. The more parts you can print without losing quality implies significant value to the user,” said Mr. P Peter Pascali, President and CEO of PyroGenesis. “By making available a competitively priced powder, which could increase build rates, will significantly impact the economics of the printer to an end user.”

PyroGenesis will be presenting the results announced today at the upcoming FormNext show in Frankfurt, Germany (Nov 14-17, 2017) in Hall 3.0, Booth G33, wherein the Company will reveal both i) the powder characterization test results and related 3D animated images, as well as ii) the MDS for -53/+20 µm Ti64 grade ELI powders.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc. 

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

 

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PyroGenesis Signs Non-Disclosure Agreement with a Global Engine Manufacturer

 

MONTREAL, QUEBEC--(GlobeNewswire– November 6, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has signed a non-disclosure agreement (“NDA”) with a global engine manufacturer.

 

“We are very happy to be in discussions with a global engine manufacturer and look forward, now that the NDA has been signed, to have more substantive discussions,” said P. Peter Pascali, President and CEO of PyroGenesis. “I must caution readers however, not to draw any premature conclusions from this announcement. Though it does signal the interest in our product, and that the interest comes from a very discerning, demanding, and sophisticated party, we are still at the very preliminary stages and there is no guarantee that anything, of any commercial value, will materialize form these efforts.”

 

PyroGenesis is the inventor of Plasma Atomization – a plasma-based process that produces small, spherical, metal powders for the Additive Manufacturing (“AM”) industry, particularly 3D printing, and for which has become a gold standard.

 

The Company recently announced the successful completion of the ramp-up of its first (1st) plasma atomization system since announcing, in 2015, that it would become a supplier of powders to the AM industry. During ramp-up, the Company not only received several sample orders, but also developed new Intellectual Property which effectively allowed to produce very narrow particle size distributions, at higher production rates, with little-to-no waste. The Company feels that this breakthrough could be even more game changing than its original Plasma Atomization patent.

 

Separately, the Company announces today that, further to a subsequent event reviewed in the Q3-2016 Management Discussion and Analysis, wherein it was noted that a director had refused 2,000,000 options at $0.18 per share, the Board of Directors, in accordance with its Stock Option Plan, has approved the grant of up to 2,400,000 incentive stock options (each an “Option”) to this same director, also President and CEO of the Company, to purchase up to an aggregate of 2,400,000 Common Shares of the Company, at a price of $0.58 per share. The Options will be exercisable for a period of five (5) years, commencing on the date of the grant. The grant remains subject to regulatory and Exchange approval.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com



 

 

PyroGenesis Signs Non-Disclosure Agreement with a Global Engine Manufacturer

 

MONTREAL, QUEBEC--(GlobeNewswire– November 6, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has signed a non-disclosure agreement (“NDA”) with a global engine manufacturer.

 

“We are very happy to be in discussions with a global engine manufacturer and look forward, now that the NDA has been signed, to have more substantive discussions,” said P. Peter Pascali, President and CEO of PyroGenesis. “I must caution readers however, not to draw any premature conclusions from this announcement. Though it does signal the interest in our product, and that the interest comes from a very discerning, demanding, and sophisticated party, we are still at the very preliminary stages and there is no guarantee that anything, of any commercial value, will materialize form these efforts.”

 

PyroGenesis is the inventor of Plasma Atomization – a plasma-based process that produces small, spherical, metal powders for the Additive Manufacturing (“AM”) industry, particularly 3D printing, and for which has become a gold standard.

 

The Company recently announced the successful completion of the ramp-up of its first (1st) plasma atomization system since announcing, in 2015, that it would become a supplier of powders to the AM industry. During ramp-up, the Company not only received several sample orders, but also developed new Intellectual Property which effectively allowed to produce very narrow particle size distributions, at higher production rates, with little-to-no waste. The Company feels that this breakthrough could be even more game changing than its original Plasma Atomization patent.

 

Separately, the Company announces today that, further to a subsequent event reviewed in the Q3-2016 Management Discussion and Analysis, wherein it was noted that a director had refused 2,000,000 options at $0.18 per share, the Board of Directors, in accordance with its Stock Option Plan, has approved the grant of up to 2,400,000 incentive stock options (each an “Option”) to this same director, also President and CEO of the Company, to purchase up to an aggregate of 2,400,000 Common Shares of the Company, at a price of $0.58 per share. The Options will be exercisable for a period of five (5) years, commencing on the date of the grant. The grant remains subject to regulatory and Exchange approval.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com



PyroGenesis Submits Final Gen 1 PUREVAP(TM) Report to HPQ Silicon Resources Inc.

MONTREAL, Nov. 01, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has submitted to its client, HPQ Silicon Resources Inc. (“HPQ”), a report entitled “Final Report-Silicon Metal Purity Enhancement” pertaining to the final series of metallurgical tests completed using the Gen 1 PUREVAP™ Quartz Reduction Reactor (“Gen 1 PUREVAP™”).  The results of testing the various operating parameters on the final purity of the Silicon Metal produced was rigorously tested.  The original concept that, under a semi-continuous PUREVAP™ process, it should be possible to transform Quartz (SiO2) into Silicon Metal (Si) with purity levels acceptable to the solar wafer industry was confirmed1.

The recently announced start of the Gen 2 PUREVAP™ metallurgical testing program is aimed to not only confirm previous findings but also, and more importantly, to allow for downstream product testing as final plans are being put in place to assemble the Pilot Plant.

“We are extremely happy with the Gen 1 PUREVAP™ results, however, this first-generation reactor was limited in its ability to push yield which directly relates to purity. The second stage testing program, or Gen 2 PUREVAP™, will allow us to test those limits, thereby increasing the probability of success when assembling the pilot plant”, said P. Peter Pascali, President and CEO of PyroGenesis. “We are pleased to join HPQ in announcing both the reaching of this new milestone and the commencing the second stage testing program.”

Bernard Tourillon, Chairman and CEO of HPQ stated, “Results to date are spectacular, in less than 18 months the PUREVAP™ QRR process has demonstrated a one-step capacity to produce very pure Silicon Metal.  Traditional industrial processes need to deploy multiple expensive steps to reach the same purity level. The Gen 2 PUREVAP™ will allow us to test, over the comings months, a number of purification options including slow cooling, as we continue our methodical metallurgical testing protocol. Our goal is straightforward, we seek to produce a Solar Grade Silicon Metal that can be used to manufacture solar cells as efficient as the one produced by Elkem Solar of Norway, the only commercially successful UMG Solar producer in the World.”

About PyroGenesis Canada Inc

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc. 

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

_________________________

1 PyroGenesis Canada Inc. Technical Memo: “TM-2017-830 REV 00, - Final Report-Silicon Metal Purity Enhancement”

 



PyroGenesis Announces Grant of Two (2) US Patents for a Total of 54 Patents owned (Issued and Pending)

MONTREAL, Oct. 26, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that the U.S. Patent and Trademark Office has issued two unrelated US Patents to the Company, U.S. Patent. No. 9,447,705 and U.S. Patent No. 9,752,206; the first targeting the Environmental Industry, and the second targeting the Mining and Metallurgy Industry, which brings the total number of issued and pending patents held by the Company to fifty-four (54).

“We are happy to add these 2 new patents to our solid and substantial global intellectual property portfolio, which now consists of over 17 issued patents worldwide, and an additional 37 patent applications in progress”, said Pierre Carabin, Chief Technology Officer of PyroGenesis. “When combined with our know-how and significant trade secrets, we have over time created a formidable barrier to entry in the markets where we are active.”

U.S Patent. No. 9,447,705 – Maximizing Energy Recovery in Waste to Energy Processes

U.S Patent. No. 9,447,705 specifically relates to improving the recovery of energy in plasma gasification processes as well as conventional fossil fuel incinerators.  As applied to PyroGenesis’ waste-to-energy technologies, this patent provides an innovative way to capture waste heat from various components within the process (i.e. plasma torches, reaction vessels, cooling jackets amongst other high-temperature components requiring cooling), in addition to recovering energy from the hot process gas exhausts.

Block Flow Diagram from Patent No. 9,447,705: http://www.globenewswire.com/NewsRoom/AttachmentNg/7076b95f-c9b6-4e61-b8f5-096a3e583b2a 

Building upon its proven track record and its proprietary technology, currently being used by the US Navy, PyroGenesis will now be able to offer systems with even higher efficiency to recover energy from waste for small and medium size applications. “Essentially, we are taking our existing cutting-edge technology and making it so much better”, said Mr. Carabin, “which underscores our philosophy at PyroGenesis to strive for innovation with the goal of making our own technologies obsolete.”

Of note, the waste-to-energy market is expected to grow at a compounded annual rate in excess of 5.5%, to exceed $35 billion by 20191.

U.S Patent. No. 9,752,206 – Plasma Torches Replace Fossil Fuel Burners

U.S Patent. No. 9,752,206 relates to using plasma torches instead of diesel burners in blast furnaces during iron ore pellet induration. Induration of iron ore pellets is an essential step in blast furnaces. The purpose of a blast furnace is to reduce and convert iron oxides into liquid iron called "hot metal".  This process is traditionally heated by fuel burners.

The use of diesel burners is extremely pollutive as the process burns natural gas, heavy oil or pulverized coal. By using electric powered plasma torches, the generation of CO2 created by diesel burners is effectively eliminated.

The amount of pollution produced by these diesel burners is significant.  For example, a typical pellet plant producing 10 million metric tonnes of pellets annually emits approximately one million metric tonnes of CO2. The total world pellet production of 400 million metric tonnes of pellets therefore corresponds to the production of 40 million metric tonnes of CO2.  This is equivalent to 8.5 million cars on the road, year after year2.

“This new patent is a proprietary process whereby the generation of CO2 by the conventional iron ore pelletizing processes is reduced by using plasma torches powered by renewable electricity instead of burning a fossil fuel, resulting in a near zero emission process”, said Mr. Carabin. “Moreover, and most importantly, depending on the price of oil, electricity and carbon credits, replacing diesel burners with plasma troches can result in very significant and quick paybacks.”

The total world production of such iron pellets is approximately 400 million metric tonnes per year, which corresponds to about 20% of the total iron ore production.  Pellet production thermal energy consumption ranges between 600 and 1000 MJ/t3.  Assuming all this energy was replaced by 1 MW PyroGenesis’ plasma torches, the total number of torches required worldwide would be in the order of 10,000 units.  At current torch prices, this represents a market in excess of $7.5 billion.

“We have patent applications with similarly broad claims which are currently pending in Europe, Japan, China and other industrialized nations,” said Mr. Pierre Carabin. “We are extremely selective in terms of what intellectual property we patent, as funds for such expenditures are limited. This in part explains the high level of success in awards we receive as we only pursue those that have a high probability of success.”

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

 

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com 



PyroGenesis Announces Completion of Ramp-Up Phase of 1st Plasma Atomization System

MONTREAL, QUEBEC--(Marketwired - Oct. 23, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, announces today that it has successfully completed the ramp-up phase of its first plasma atomization system.

During the ramp-up, the following were also achieved:

  • Six (6) Non-Disclosure Agreements ("NDA") signed with distributors and 3D printer manufacturers
  • Three (3) NDAs being negotiated with multinational aircraft engine manufacturers, at their request
  • Exclusive distributorship under negotiation in Asia
  • Received six (6) sample orders for metal powder, of which five (5) have been delivered to date
  • Adjusted process for other metal powders (i.e. Inconel)
  • Developed new, potentially game changing, intellectual property; Patent applications progressing as expected

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an overview of today's announcement in the following Q&A format. The questions, for the most part, are derived from inquiries received from investors, analysts, and potential customers:

Q: You announce today that ramp-up is complete? What does that mean exactly?

A: It means that we are open for business. By announcing the end of ramp-up, the plasma atomization reactor is fully functional, and ready to operate 24/7. We have added a second shift in anticipation of large scale commercial orders. The feedback so far is that our powders are of exceptional quality and, given our capacity for innovation, we offer extremely competitive pricing. As previously noted, we are already in discussion with numerous players in the field. 

Q. In terms of your sales strategy, do you plan on targeting metal 3D printer manufacturers, end users such as GE, distributors, or all the above?

A. As noted above, we have signed six (6) NDAs with both distributors and 3D printer manufacturers and three (3) NDAs are currently being negotiated with multinational aircraft engine manufacturers.

PyroGenesis' strategy in the beginning of 2016, when we first announced that we were reentering the business of producing the very same powders we once produced for ourselves and the biomedical industry, was simply to be a credible second supplier. It only made good business sense for companies to have a second supplier for a vital feedstock such as titanium powders, and we wanted to fill that role.

Approximately one year ago, GE announced its acquisition of Arcam and, by default, AP&C. This acquisition, in our opinion, effectively introduced a supply chain risk in Additive Manufacturing ("AM"), despite AP&C's willingness to still sell powders into the marketplace. We have found that end-users, and metal 3D printer manufacturers alike, want to make their supply chain more robust. We believe that as a result of GE's acquisition of Arcam/AP&C, we are seeing a particular interest from GE's competitors. We are in the process of negotiating at least three (3) NDAs with multinational aircraft engine manufacturers after having concluded at least another five (5) with metal 3D printer manufacturers. This activity, we believe, not only underscores, but validates our previously identified concerns regarding the supply chain.

So, with that as background, and to answer your question, we are positioning ourselves to be a dominant metal powder supplier to anyone in the industry with a need for small, spherical, uniform metal powders, of exceptional characteristics, whose particle size can be varied depending on the need. 

Of interest, is that we are not so much targeting a specific group as we have been targeted by them. We currently have ongoing discussions with end users, distributors, and printer manufactures.

Q. What kind of feedback have you received from the sample powder orders you have shipped?

A. The feedback we have been getting since being on-line has all been positive and beyond what we anticipated. I cannot stress enough that we never expected to receive sample orders during ramp-up. The take away should not just be that we received these sample orders during ramp-up, but that we have also signed a number of NDAs with credible players.

To recap, PyroGenesis has received six (6) unique sample orders, including one sample order for both our Grade 23 and Grade 5 MIM cut. Of these sample orders, we have currently shipped five (5), and the majority of these only in the past two (2) months. To date, we have not had any negative feedback.

Q. Do you plan on selling spot orders, or entering into a partnership / joint venture, or an exclusive sales agreement?

A. As discussed above, our original strategy was to sell spot orders, but given the strategic importance of GE's acquisition of Arcam, and the concerns it has created with respect to powder supply, we believe that the market is now more interested in long term arrangements such as partnerships, joint ventures, and exclusivity agreements as opposed to buying spot orders as needed.

Q. In your press release dated Sept 18, 2017, you mentioned that, "…to the best of our knowledge, we know of no other company that offers commercial quantities of Ti-6Al-4V Grade 23 MIM cut...". Does this suggest there won't be a significant demand for MIM powder?

A. Absolutely not. It's quite the opposite in fact.

We see demand coming from two areas:

First, with respect to AM, the MIM cut powder is being considered as a feed to making parts in quantity; essentially targeting high volume rather than high value manufacturing. This is what Desktop Metal, Markforged, 3DEO and Digital Metal are doing. These companies have effectively gained prominence very recently.

Spherical Ti64 grade 23, and grade 5, MIM cut powder (i.e. less than 25 microns) is not easy to produce. Our ability to supply these powders in commercial quantities, which can be produced with little or no waste, is enabling the industry.

Second, beyond AM, specifically in metal injection molding, end users have traditionally been trading flowability for part density. With PyroGenesis' recent innovations, these end users can now have both flowability, with an extremely dense part, by sourcing PyroGenesis' MIM cut powder.

As you can see, PyroGenesis is in effect enabling two (2) markets with our new plasma-based atomization system; namely for Additive Manufacturing and Metal Injection Molding. As such, in conclusion, we expect the demand for our MIM powder to exceed our most aggressive forecast model. We believe we are uniquely positioned to become the largest supplier of MIM cut powders to this industry should the anticipated explosive demand be realized.

Q. So, bottom line, you envision high demand for your MIM cut powder?

A. Yes. As I said, we believe that as 3D printing evolves, and new printers are developed, there will be an increased demand for different metal powder particle size cuts. We believe that the growth in demand for MIM cut powders by companies such as DeskTop Metal, 3DEO, Markforged, and Digital Metal will continue to grow. Additionally, we also anticipate a portion of our MIM cut powders to be sold to Metal Injection Molding companies.

Our ability to produce very narrow size cuts in significant volumes, with little to no waste, will not only allow us to address an explosive demand for MIM cut, but for any particular particle range, thereby enabling metal printers to evolve unrestricted by supply constraints. 

Q. How do you see the demand for the other size cuts of powder (i.e. SLS and EBM cuts) evolving? Are you concerned at all that other non-powder-bed AM methods, such as directed energy deposition, could become more widely adopted and impact the demand for powder feedstock?

A. Each AM method has its own targeted niche application. From SLS, to EBM, to Ink Jet, to Directed Energy Deposition, they each have targeted applications. EBM for example is excellent for, and quite widely adopted by, medical implants (such as hip joints). Each method offers a unique solution which can range from crude parts production that are large and require considerable post machining and processing, to repair parts, to others that are almost in their final form. Although AM has clear advantages over conventional manufacturing, we believe that it will remain a complimentary and parallel manufacturing method to conventional manufacturing. This being said, AM is finding considerable acceptance, and adoption, across many industries. As such, we see the AM method continuing to grow at current double-digit growth rates for the foreseeable future. 

Furthermore, we are not concerned that other non-powder-bed AM methods, such as Directed Energy Deposition, could become more widely adopted and impact the demand for powder feedstock. Directed Energy Deposition is an excellent solution for producing large parts that are very crude in finish and require considerable post machining and processing. This solution could be a choice for certain applications; however, for certain other applications, that require intricate internal details, or an almost finished build (near net shape), this method falls short or simply cannot achieve the desired results. Directed Energy Deposition in fact is derived from the welding industry and has been around for a considerable amount of time. We see the growth in AM coming from "net shape parts", and in fact, are seeing a considerable amount of demand and growth coming from the finer size cut powders (exactly where we have been focusing in anticipation of this demand). More and more clients are requesting a high purity fine powder, and this is exactly where PyroGenesis' new plasma-based process excels.

Q. The market would like some clarification - how did PyroGenesis get into this business of producing and selling powders?

A. PyroGenesis originally invented Plasma Atomization to address an internal need for small spherical titanium powders which were required for a project we were working on for NATO, i.e. developing light weight armor. It was difficult to find small spherical titanium powders of the quality we needed, and when we did, they were very expensive. This was well before there was any significant demand for these powders by metal 3D printers.

To make a long story short, we invented Plasma Atomization (and actually coined the term in our original patent application) to make small spherical powders for ourselves, not realizing that these powders had a use in the biomedical industry. The biomedical industry liked how our powders flowed like water and compacted tightly. The industry immediately found a use for them in the production of titanium implants (ex. titanium knee and hip replacements). Our first commercial biomedical sale was to a company called Stryker Corporation (the relationship of which was transferred to AP&C, who we believe, can still count them as one of their important customers today). 

When the program to develop lightweight armor came to an end, the biomedical industry would not take up all of our powder production, which is the reason PyroGenesis decided to get out of the business of powder production and, to this end, reached an arrangement wherein AP&C could continue the business subject to, amongst other things, a non-compete clause which ended in 2012. AP&C (a former division of Raymor Industries) sought creditor protection in 2009. When AP&C eventually came out of creditor protection, metal 3D printers started to have a need for the exact titanium powders that PyroGenesis' Plasma Atomization system produced, and which AP&C was trying to commercialize. Arcam AB, a manufacturer of metal 3D printers, became a client of AP&C and eventually bought AP&C in 2013. Since that time, Arcam has done an amazing job of industrializing the process and AP&C, under Arcam, has become one of the dominant suppliers of titanium powders to metal 3D printers.

Q. Will your newly developed ability to control particle size distributions allow you to significantly differentiate yourself from your competition in terms of price?

A. We believed that we could differentiate ourselves from our competition in terms of price, before our newly developed ability to control particle size distribution was a consideration; our recent developments only solidifies/amplifies this advantage.

Separately, PyroGenesis announces today that it has signed an agreement with Crescendo Communications, LLP ("Crescendo"), effective November 1, 2017, for certain capital market strategic advisory services, specifically, to increase the Company's market awareness amongst investors, with a particular emphasis on those in the United States (the "Agreement").

In consideration of the services to be provided, the Company has agreed to pay Crescendo a monthly retainer fee of $6,000, with the first two months due ($12,000) upon signing of the Agreement. The Company may terminate the Agreement with Crescendo, at any time after December 31, 2017, by providing thirty (30) days' written notice.

Crescendo does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.

"We are pleased to announce that we have selected Crescendo to help increase PyroGenesis' profile within the financial community as well as enhance the visibility of our product lines," said Mr. Pascali. "We believe Crescendo's methodologies fit well with the Company's strategy to increase awareness within the investment community."

In addition, and given the numerous inquiries on the topic, Mr. Pascali would like to take this opportunity to confirm that he has been a net buyer of PyroGenesis' shares over the past few months as reflected in his public filings. "I have been adding to my ownership of PyroGenesis over the past few months," said Mr. Pascali. "My intention is to continue to do so, as a net buyer, over the next few months as well."

Additional information on the Company is available on SEDAR at www.sedar.com.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com



PyroGenesis Canada Inc. to Present at The MicroCap Conference on October 5th in New York City at the Essex House

NEW YORK, NY / ACCESSWIRE / October 2, 2017 / PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high-tech company ("PyroGenesis") that designs, develops, manufactures, and commercializes plasma waste-to-energy systems and plasma torch products, will be presenting at this year's MicroCap Conference on October 5th in New York City.

 

CONFERENCE OVERVIEW AND STRUCTURE

The MicroCap Conference is an exclusive event for investors who specialize in small and microcap stocks. It is an opportunity to be introduced to and speak with management at some of the most attractive small companies, learn from various expert panels, and mingle with other microcap investors.

The MicroCap Conference will take place in New York City at the Essex House on October 5th. Registration will begin on Thursday at 7:00AM, and will last until the evening. These days will be jam-packed with company sessions, presentations, good food, and plenty of time to network with other investors over drinks at the reception. This event does not allow service providers - only portfolio managers, analysts, and private investors.

 

REGISTRATION FOR INVESTORS

To register, please go to our website (microcapconf.com/conferences/new-york-2-2017/), and click "Investor Registration."

PARTICIPATING COMPANIES

For our most updated list of companies, please go to our website (microcapconf.com/conferences/new-york-2-2017/).

 

MARQUEE SPONSORS

The Special Equities Group

Maxim Group

 

OTHER SPONSORS

M2 Compliance

MZ Group

Pryor Cashman

Wexler Burkhart Hirschberg & Unger

IRTH Communications

PCG Advisory Group

CORE IR

Catalyst IR

Marcum

News Compliments of ACCESSWIRE.

 

FOR MORE INFORMATION

Please visit: www.microcapconf.com.

Or, contact Tony Yu at tony@microcapconf.com.

SOURCE: PyroGenesis Canada Inc.



PyroGenesis Comments on Stock Trading Activity; Provides Company Snapshot/Update

MONTREAL, QUEBEC--(Marketwired - Sept. 29, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, announces today that due to recent stock trading activity, and decrease in stock price, the Company contacted IIROC. Based on this conversation, and advice, PyroGenesis wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for this activity. Management knows of no reason that would give rise to such unusual trading and has no significant information to disclose which could lead to such activity. The Company is current on all its regular quarterly filings, has made (in advance) its third quarter interest payment due under its previously completed convertible debenture, and plans to report its third quarter results in November as required by the TSX Venture Exchange.

"We wish to reassure all of our stakeholders, and market participants, that the fundamentals of PyroGenesis, in terms of activities previously reported on, as well as the progress being made thereon, are not only sound but are moving forward as expected" said P. Peter Pascali, President and CEO of PyroGenesis. "As such, we wish to provide the following Company snapshot."

 

Additive Manufacturing: 

Ramp-up on schedule 

Patent applications progressing as expected 

Exclusive distributorship under negotiation in Asia 

Two Non-Disclosure Agreements (NDAs) being negotiated with end-users (competitors to GE) at their request 

 

DROSRITE™: 

Middle Eastern visit took place and contract currently being negotiated 

Separately, re-order being negotiated with current client 

Demonstration system currently being deployed to India 

 

Chemical Warfare Agent Destruction System: 

Initial testing at UK site, with simulants, demonstrated better destruction rates than tests performed in Montreal 

Tests with actual chemical warfare reagents has been rescheduled to a future date (TBD). As mentioned, in a previous press release, the testing schedule is out of PyroGenesis' control 

 

PUREVAP™: 

Moving ahead as previously disclosed. Of note, nothing has taken place technically to challenge our original goal, notwithstanding normal challenges for a project of this natur

 

PAWDS: 

No changes. Additional order for new aircraft carrier expected in 2018

 

"We would not have normally provided a Company overview of this nature," said Mr. Pascali. "In fact, we would have preferred to have provided this update at a time when the events reviewed herein had further matured but, given the circumstances noted herein, we felt it best to depart from normal practices and provide the Company snapshot above. We trust this provides the clarity needed at this time, and would like to reassure all concerned that should any material event transpire, we would immediately disclose such".

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

Rodayna Kafal

VP, Investor Relations and Communications

(514) 937-0002

ir@pyrogenesis.com or rkafal@pyrogenesis.com



PyroGenesis Announces Commencement of Advanced Second Phase Lab Scale Testing with HPQ Silicon Resources Inc., Totalling CAN$170,000 which has been Received

MONTREAL, QUEBEC--(Marketwired - September 19, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to its press release dated on May 4, 2017, it has informed its client, HPQ Silicon Resources Inc ("HPQ"), that the Gen 2 PUREVAP™ Quartz Reduction Reactor ("QRR") (referred to herein as: "Gen 2 PUREVAP™"), a 1/250 scale model of the planned 200 metric tonne (MT) per year pilot plant (the "Pilot Plant"), will be operational in the coming weeks, and that an advanced, second phase, lab scale testing program is about to commence.

As previously announced, the first generation lab scale PUREVAP™ QRR (referred to herein as: "Gen 1 PUREVAP™") was built to prove that Silicon Metal (Si) could be produced directly from quartz in just one step, for the solar panel industry.

The Gen 2 PUREVAP™ will focus on Process Refinement, Characterization, Metallurgical Testing and purity improvements using this new semi-continuous feed 1/250 scale model.

Based on Gen 1 PUREVAP™ results, PyroGenesis completed the detailed engineering and design of the Pilot Plant, including substantial process modifications, and as a result, this Gen 2 PUREVAP™ is an upgraded version of the Gen 1 PUREVAP™ that will be a true 1/250 scale replica of the planned larger pilot plant ("Gen 3 PUREVAP™"). The Gen 2 PUREVAP™ is currently undergoing final manufacturing, assembly and testing, and will be operational during the first weeks of October 2017.

The start of this new metallurgical testing program using the Gen 2 PUREVAP™ represents major de-risking of the Pilot Plant program as the Gen 2 PUREVAP™ will:

Allow for specific process design improvements and modifications derived from Gen 1 PUREVAP™ test work to be implemented and perfected;

Produce larger Silicon Metal (Si) samples to test improvements to the purification process;

Allow an intermediate step in scaling up to the Pilot Plant, thereby mitigating the scaling up risk;

Allow for the following milestones to be reached sooner than originally planned:

Producing larger Si samples for testing by potential purchasers;

Allow HPQ and PyroGenesis to test the electrical parameters of the High Purity Si;

Produce enough material to send samples to solar industry participants; and

Provide data to demonstrate the economics of PUREVAP™ technology.

"We are happy to see this new phase of the project. This new reactor will allow us to produce larger quantities of silicon and validate the process for the pilot phase," said Pierre Carabin, Chief Technology Officer of PyroGenesis.

 

The next key milestone is to produce quantities of solar grade silicon for testing of its electrical characteristics, sending material to industry participants and finalize Pilot plant design en route to commercialization.

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. 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 ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

 

SOURCE PyroGenesis Canada Inc.

 

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com
rkafal@pyrogenesis.com

 



PyroGenesis Additive Confirms Production, and Orders, for Both Ti-6Al-4V Grade 23 & Grade 5 MIM Cut

MONTREAL, QUEBEC--(Marketwired - Sept. 18, 2017) - PyroGenesis Additive, a division of PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to its press release dated August 14, 2017, wherein it was announced that the Company had developed a new plasma-based atomization process to produce metal powders for 3D printers, specifically the MIM cut titanium (Ti-6Al-4V) powder Grade 5 (which for the purposes herein, we define as small fine metal powders, that can be used by metal 3D printers, typically in the 5um-25um size range), and wherein it was also announced that it seemed that the same process might make titanium MIM cut Grade 23, the Company now confirms that this process can, in fact, make titanium MIM cut Grade 23 powder in commercial quantities. Further to this, the Company is also pleased to announce that it has already received orders for samples of both Grade 5 and, most notably, Grade 23 Ti-6AL-4V MIM cut powders. 

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an overview of today's announcement in the following Q&A format:

Q. What is the attraction of MIM cut powders?

A. The use of a MIM cut powder allows improved surface finish and increased definition of the parts. MIM cut refers to a powder size traditionally intended for use in the Metal Injection Molding industry, hence the phrase "MIM". We also use this term to describe this same size cut (i.e., the finest powder size produced by plasma atomization, typically below 25um), and which we are seeing a potentially explosive demand for by metal 3D printers. The press has most recently noted the increased interest in using this fine powder by 3D printer manufactures such as Desktop Metal, Markforged and 3DEO. These new printing technologies hold the promise of much higher throughput and reduced costs compared to mainstream printers.

Of note, and where PyroGenesis Additive has applicability, is that the metal 3D printer demands for this MIM cut cannot be serviced by the powders which traditionally were used by Metal Injection Molding, as they are not pure enough.

The MIM cut powder of Ti-6Al-4V has traditionally only been available, in commercial quantities, as Grade 5. Given PyroGenesis Additive's new plasma-based process, as described in its September 12, 2017 news release, it is now able to address this market by producing extremely narrow size distributions, at significantly higher production rates, with higher yields (i.e. little to no waste), and at much lower operating costs for both Grade 5 and Grade 23 in commercial quantities.

To the best of our knowledge, we know of no other company that offers commercial quantities of Ti-6Al-4V Grade 23 MIM cut.

 

Once again, PyroGenesis Additive is inventing, and innovating, thereby enabling 3D printers to reach new levels.

Q. What is the difference between Grade 5 and Grade 23?

A. The primary difference between the two is oxygen content, with Grade 23 having less oxygen content than Grade 5 (i.e. maximum oxygen content of 0.13% vs 0.20%). Since MIM cut powders are smaller, there is a tendency to have increased oxygen content due to more exposed surface area.1 Therefore, it is very difficult, in this particle range to have low oxygen content which is sometimes preferred.

 

Q. Why is it a challenge to make Grade 23? 

A. There are two challenges in making Grade 23 MIM cut powder: 1) quality and 2) quantity.

 

First, quality: because of its small size and relatively high surface area, the powder tends to pick up oxygen easily. By carefully controlling the operating environment of the plasma reactor, it is possible to minimize the oxygen pickup and, consequently, the oxygen content of the final powder.

Second, quantity: plasma processes have traditionally been designed to produce relatively large powders. By allowing to shift the particle size distribution to smaller sizes, the new PyroGenesis process maximizes the amount of powder available in the MIM cut range.

Q. Can you give us an update on sample orders and shipments?

A. To date, PyroGenesis Additive has received six (6) unique sample orders, including one sample order for our Grade 23 and Grade 5 MIM cut. Of these sample orders, we have currently shipped four (4).

 

Q. So, in conclusion, when will this success translate into more substantial orders?

A. It is important to put these sample orders in context. We never expected to receive any sample orders during the ramp-up phase. It is, as you can imagine, very difficult to project any sales from these sample orders. However, I think it is safe to say that given the amount of interest, the timing, and the type of clients we are seeing, we can expect that some future long-term contracts might be in the very near future. If that is true, one can well imagine that the impact on the Company could be so significant that whether that happens in a week, a month, or six (6) months, the difference in timing is a drop in the bucket when compared to the commercial implications.

 

I can say however, that these sample orders have translated into company visits; both to our facilities and to theirs… and remember this is all during ramp-up.

As previously announced, PyroGenesis Additive will be exhibiting at this year's TCT show in Birmingham, England (Sept 26 - 28). The TCT Show is one of the world's leading events dedicated to 3D printing, Additive Manufacturing and product development as over 250 exhibitors are showcased to more than 7,000 attendees. We invite those who will be attending the show to stop by our booth# C61 and speak with our sales team: Mr. Massimo Dattilo, VP, PyroGenesis Additive, and Mr. Alex Pascali, Sales Manager, PyroGenesis Additive.

Separately, PyroGenesis announces today that it will be presenting at The MicroCap Conference on October 5, 2017, at the Essex House in New York City. The MicroCap Conference is an exclusive event for investors who specialize in small and microcap stocks. Mr. Pascali will provide an overview of the Company's business, during a live presentation and has scheduled several one-on-one meetings with investors who are registered to attend the conference. This event is exclusive to portfolio managers, analysts, and private investors.

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. 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 ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com

 



PyroGenesis Additive Announces Significant Developments to its New Plasma-Based Atomization Process; Higher Production Rates, Higher Yields, Narrower Particle Size Distributions, Lower Costs

 

MONTREAL, QUEBEC--(Marketwired - Sept. 12, 2017) - PyroGenesis Additive, a division of PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to its press release dated August 14th, 2017, the Company has made additional developments to its previously announced new plasma-based atomization process, which produces metal powders for metal 3D printers. Specifically, these developments include the ability to produce extremely narrow size distributions which can be easily shifted to any particle size required for Additive Manufacturing ("AM"), at significantly higher production rates, higher yields (i.e. little to no waste), and at much lower operating costs than seen to date. Management believes that this new plasma-based atomization process will have as great, if not greater, impact on the AM market, specifically addressing metal 3D printers' demand for new particle size distributions. 

 

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an overview of today's announcement in the following Q&A format:

Q. On August 14th, 2017, the Company announced a new plasma-based atomization process. How have you developed this further?

A. What we announced on August 14th was revolutionary in its own right. What we are announcing today is that this new process can effectively produce higher yields of very narrow particle size distributions, with little or no waste, and for any powders under 150 microns (the sweet spot for 3D metal printers), and not just the MIM cut (which we define for the purposes of the discussion herein as small fine metal powders, that can be used by metal 3D printers, typically in the 5-25-micron size range).

In short, for any particle size distribution used by metal 3D printers we can:

Produce extremely narrow size distributions, of bulk powders, which are easily shifted to any other size cut required by metal 3D printers (i.e. 5-25 microns, 15-45 microns, 45-106 microns, 45-150 microns, etc.);

At significantly higher production rates than seen in the past;

With higher yields (i.e. little to no waste); and

At much lower operating costs. 

 

Q. This is extraordinary.

A. It is, but not only from a cost perspective. Of course, increasing production rates, narrowing size distributions, increasing yields and lowering operating costs all lower the cost of production significantly, but the most significant aspect of this new process is that we can do this for any specific powder size catering to the AM Industry. What this means specifically is that, when producing a specific size cut, you do not have to worry about selling the off-cuts, or getting rid of waste, as you did in the past. We can now shift the particle size distribution to a customer's specific needs and then shift it easily to address another's.

 

Q. So total control?

A. Yes, and management believes this is beyond anything seen to date as production rates are significantly higher than in the past.

 

Q. Can you put this in perspective? What was happening in the past, and how is this better today?

A. Most certainly. To put it in perspective, in the past, you could meet a customer's order with a specific production run, but you would have a significant amount of powder left over of a different particle size distribution that was either ideal for different 3D printers ("off-cuts") or was waste. That means that, in the case of off-cuts, one would have to, hopefully, have another client for these cuts, which is quite challenging, as you can imagine, as not all particle size demands are equal. If the off-cuts are waste then the problem is a bigger one of disposal. In both cases, storage is also an issue.

 

Q. How does this enable 3D printers, and how may this be game-changing?

A. It all has to do with the production profile, rates and costs. If as a powder producer, you must sell multiple size cuts, from each production run, to different clients it becomes a limiting factor; It becomes a limiting factor in terms of both your ability to store off-cuts you haven't matched a client to, and your ability to meet the demand for new powder size cuts; this is particularly true if there is a significant demand in new powder size cuts that does not match your production profile.

Our game-changing process has changed all that as it is no longer dependent on a broad production profile which, as we said, is limited by client matching, storage and/or disposal.

This problem has become evident as companies (such as Desktop Metal, 3DEO, and Markforged) started to express an interest in very fine powders which, until recently, could only be considered as an off-cut of broad production profiles. How could an explosive need for such powders be met if production was limited to matching the balance of production? PyroGenesis' new plasma-based atomization process can now address this by producing extremely narrow size distributions, which easily shift to any particle size distribution, at significantly higher production rates, higher yields (i.e. little to no waste), and at much lower operating costs.

This is a huge breakthrough which we consider game changing, and the very reason why we consider this development to be as significant, if not more significant, than PyroGenesis' original Plasma Atomization invention.

 

Q. Conclusion?

A. Not only are we the inventors of Plasma Atomization but we coined the term in our original patent issued in 1998. All other plasma atomization technologies used in the AM space owe their existence to our original patent notwithstanding any improvements they purport to have made.

We are back as a powder producer. Our stated goal is to enable AM (i.e. 3D printing) to reach new heights while at the same time address the current powder needs of the industry. We believe we have, so far, not only been true to this goal, but have excelled in pursuing it; which is the essence of our press release today. We have only had a system in ramp-up phase since March of this year, but in this short timeframe have new patents pending and, as of late, developed further game-changing know-how. In addition, the reception by the market has caused us to look at ways to accelerate our original strategic plan.

We look forward to completing the ramp-up phase, by incorporating our advances, and developing strategic relationships to accelerate our growth. We are also looking forward to playing a significant role in this dynamic AM market and anticipate a very exciting year ahead.

PyroGenesis Additive further announces that it will be exhibiting at this year's TCT show in Birmingham, England (Sept 26 - 28). The TCT Show is one of the world's leading events dedicated to 3D printing, additive manufacturing and product development as over 250 exhibitors are showcased to more than 7,000 attendees. We invite those who will be attending the show to stop by our booth# C61 and speak with our sales team; Mr. Massimo Dattilo, VP, PyroGenesis Additive, and Mr. Alex Pascali, Sales Manager, PyroGenesis Additive.

Separately, PyroGenesis announces today that it is featured as a presenting company at the 19th Annual Rodman & Renshaw Global Investment Conference, sponsored by H.C. Wainwright & Co., LLC. The conference is currently in process, scheduled for September 10-12, at the Lotte New York Palace Hotel in New York City. Mr. Pascali will provide an overview of the Company's business on Tuesday, September 12th, during a live presentation and has scheduled several one-on-one meetings with investors who are registered to attend the conference. The conference is attended by over 2,000 attendees.

Finally, the Company announces today that an additional CAN$600,000 of previously issued warrants have been exercised. "Once again, this exercise of warrants is timely," said Mr. Pascali. "As announced herein, we are currently looking beyond the ramp-up phase towards increasing production capacity ahead of our original expectations. This exercise of warrants, together with any future exercise of warrants and options, will enable us to implement plans to accelerate this growth, including our original schedule to increase our production capacity of metal powders for the AM (3D Printing) Industry. As previously announced, we are still looking at ways to have up to three (3) additional powder production systems operating in 2018. To date, our metal powder production strategy is progressing far better than planned, and we are very pleased."

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. 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 ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal

VP, Investor Relations and Communications

(514) 937-0002

ir@pyrogenesis.com or rkafal@pyrogenesis.com



PyroGenesis Announces Q2-2017 Results: Cash Flow Positive on EBITDA (Modified) Basis; Revenues Increase by 165%; Gross Margins Increase to 48%; Current Backlog $7.64MM

MONTREAL, QUEBEC--(Marketwired - Aug. 28, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today its financial and operational results for the second quarter ended June 30, 2017.

 

Q2-2017 results reflected the following highlights:

Revenues increased 165% to $2.17MM in Q2-2017, over $0.82MM posted in Q2-2016; 

Gross profit before amortization of intangible assets increased to 48% in Q2-2017, from - 9% over the same period in 2016. (Gross profit after amortization of intangible assets increased to 48% in Q2-2017 from -33.6% over the same period in 2016); 

Most importantly, Q2-2017 was profitable on an EBITDA (Mod.) basis. Q2-2017 posted an EBITDA (Mod.) of $12.2K versus a Q2-2016 EBITA (Mod.) loss of $876K; 

Over $13.5MM in contracts were signed, and work begun on, since June 30, 2016 which, taken in context of historic revenues (2016: $5.2MM; 2015: $6.2MM; 2014: $5.8MM) is quite significant. Backlog of signed contracts as of the date of this writing is $7.64MM.

At yearend 2016, we described the preceding twelve months as being a pivotal year for PyroGenesis as the Company shifted its focus away from being a fabricator of plasma-based systems that produced unique titanium powders, in favour of becoming a producer of metal powders for the Additive Manufacturing Industry (the "Industry"). Given their unique properties (pure, small, spherical, and uniform; which make them flow like water), these powders are greatly sought after in the Industry, particularly 3D printing. Given this strategic shift, together with the backlog of signed contracts from our non-additive manufacturing business ("Core/Traditional Lines of Business") of over $13MM since June 30, 2016, we projected that 2017 was shaping up to be a break out year for PyroGenesis, and Q1 and Q2-2017 have not been disappointing.

What is key to note is that these results reflect revenues from what we call our Core/Traditional Lines of Business (little to no revenues from powder sales at all), however expenses reflect certain costs of building our first powder production system, and improvements made on it, which came on stream in Q1-2017 and is, as previously announced, currently ramping up to full production.

We are more convinced than ever before that 2017 is the breakout year we have been positioning the Company for, for a number of reasons:

The healthy gross margins established in 2016 (before consideration of the 2016 write- offs), have improved, and are expected to continue to improve once powder production is in full swing.

Established backlog of signed contracts, the majority of which are expected to be completed in 2017.

Our Core/Traditional Lines of Business are poised to contribute significantly to the bottom line and be both profitable and significant in their own right.

The following is a non-exhaustive review of PyroGenesis' main commercial activities:

Powder Production: The Company has met every major milestone previously announced on the road to making metal powders for the Industry; particularly, as was announced in Q1- 2017, the completion of the assembly of its first powder production system; the first powder run exceeding expectations; and that ramp-up was under way and expected to take place linearly over the ensuing months. 

Also, as previously announced in recent press releases, interest has far exceeded managements' expectations as several initial contracts were received for sample powders during this ramp-up phase; orders of which PyroGenesis has already delivered the first order and expects to be delivering the balance over the next few weeks. Furthermore, the Company announced having signed several agreements with significant, and potential, players in the Industry, whereby the Company is in discussions regarding the possibility of concluding business relationships or transactions geared to the production of its powders.

On that note, and given that the first sample delivery occurred towards the end of June, just before the traditional summer break in Europe and that subsequent orders will be delivered shortly, we expect discussions, with respect to these orders, to begin in earnest over the next several months.

Additionally, as assembly of the first powder production system was completed a short five (5) months ago, and this, during the ramp-up phase, the Company not only successfully delivered a first sample order for Titanium powder, but also adjusted the system to produce, and deliver, Inconel powders as well. Furthermore, during this period, the Company announced one of the most significant developments to date, possibly even more significant than the Company's original invention of Plasma Atomization, which is that it has developed a new plasma-based process that provides significant control over its particle size distributions with little to no waste and which, in turn, has enabled the production of MIM cut powders in quantity.

The current system is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the Industry1.

DROSRITE™: The DROSRITE™ Furnace System was proven out at a North American customer's Mexican facility during the first half of 2016. Soon thereafter, a successful demonstration of the DROSRITE™ System took place in the Middle East, following which an unsolicited request to exclusively market the process in the region was received and is currently being discussed. Management believes that the supply and installation of the first (1st) commercial sale in North America would enable the Company to leverage this success to generate a continued flow of orders for additional DROSRITE™ Systems. The Middle Eastern client is expected to visit the Company's Montreal facility in Q3-2017. This recent flurry of activity and interest for the DROSRITE™ System bodes well for future contracts. We now expect to have at least one (1) order placed in Q4-2017 with another 2-3 expected in Q1-2018. The market potential for PyroGenesis' DROSRITE™ System, from Aluminium dross alone exceeds $400MM.

HPQ: On August 2, 2016, PyroGenesis announced that it had signed contracts totalling CAN$8,260,000 with HPQ Silicon Resources Inc., formally Uragold Bay Resources Inc. ("HPQ") for the sale of IP and to provide a 200 metric tonne (MT) per year PUREVAP™ pilot system to produce silicon metal directly from quartz. This system will for the most part be constructed in 2017, with advancement of the contract accelerating in the second half of the year. According to percent completion accounting standards for revenue recognition, the majority of these revenues will be recognized in the 2nd half of 2017. Of particular note, if successful, PyroGenesis benefits from a 10% royalty on all revenues derived from the use of this system by HPQ, subject to annual minimums.

Chemical Warfare Destruction System: The Company recently announced that PyroGenesis has, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company's tactical Plasma Arc Chemical Warfare Agents Destruction System ("PACWADS") using surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and far exceeded minimum requirements with over 99.9999% destruction efficiency. The PACWADS has, as of this writing, been delivered to the testing site and is currently going through final testing using real chemical warfare agents. These tests should be completed by the end of Q3-2017 (this timeline however is out of the Company's control). Again, this bodes well for 2017 as we would expect additional contracts resulting from a successful completion of the final testing. However, no indication has been given as to the size, if any, such procurement would entail.

Other Contracts: There are other contracts being discussed (i.e. a third order for a PAWDS for a New US Aircraft Carrier which is expected to be ordered sometime towards the end of 2017/beginning of 2018 with an estimated value of approximately $6MM); a sale of the Company's SPARC system, amongst others) which further give us confidence that 2017 will be the break out year.

Given the above, we expect a strong performance in the coming year, and based on existing contracts, the Company expects to be profitable in 2017 (excluding any contribution from powder sales) as noted above. Our projections for 2017 are only heightened by the reception we have received so far, particularly how well received our entrance as a powder producer in the Additive Manufacturing community has been.

Management remains focused on reducing PyroGenesis' dependency on long-cycle projects by developing a strategic portfolio of volume driven, high margin/low risk products that resolve specific problems within niche markets, and doing so by introducing these plasma-based technologies to industries that have yet to consider such solutions.

Management is also actively targeting recurring revenue opportunities that will generate a growing, and profitable, regular cash flow to the Company.

PyroGenesis has one of the largest concentrations of plasma expertise in the world, with over 250 years of accumulated technical experience and 59 patents, combined with unique relationships with major Universities performing cutting edge plasma research and development, which positions the Company well to execute upon its various strategies.

 

Financial Summary

 

Revenues

The Company posted revenues of $2,173,397 in the second quarter of 2017 ("Q2, 2017"), representing an increase of 165% compared with $818,990 recorded in the second quarter of 2016 ("Q2, 2016"). Revenue recorded in Q2 2017 was generated primarily from (i) the development of a vacuum arc reducing process to convert Silica into high purity Silicon metal, (ii) manufacture and further field testing of Tactical PACWADS, the first mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, (iii) the demonstration of the viability of PyroGenesis' existing plasma chemical warfare agent destruction platform with locally available materials, for the complete eradication of chemical warfare agents without creating hazardous by-products, and (iv) support services related to PAWDS-Marine systems supplied to the US Navy.

 

Cost of Sales and Services and Gross Margins

Cost of sales and services before amortization of intangible assets was $1,130,295 in Q2, 2017, representing an increase of 52% compared with $744,926 in Q2, 2016. Total costs of sales and services, was $1,130,295 representing an increase of 3% compared with $1,094,196 in Q2, 2016.

Various factors, including, but not limited to, the mix of long and short-term manufacturing projects, project complexity and scale, and project R&D content, may significantly impact both the composition and overall level of cost of sales and services reported in a given period, as the mix of labor, materials and subcontracts may be significantly different.

The costs incurred in Q2, 2017 are primarily attributable to the work completed under PyroGenesis' project to develop a vacuum arc reducing process to convert Silica into high purity Silicon metal, work completed on the tactical mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, and support services related to PAWDS Marine systems supplied to the US Navy.

Investment tax credits recorded against cost of sales are primarily related to client funded projects that qualify for tax credits from the provincial government of Quebec. Qualifying tax credits increased to $136,994 in Q2, 2017, compared with $26,221 in Q2, 2016. This represents an increase of 422% quarter-over-quarter. The Company continues to make investments in research and development projects incorporating the involvement of strategic partners and government bodies.

In Q2, 2017, the gross margin before amortization of intangible assets was $1,043,102, which represents 48% of revenue. This compares with a gross margin before amortization of intangible assets of $74,063 (9% of revenue) for Q2, 2016.

The amortization of intangible assets of Nil in Q2, 2017 ($349,269 in Q2, 2016) relates to the licenses and know-how purchased in 2011 from a company under common control. This expense is a non-cash item and the underlying asset was fully amortized by December 31, 2016.

 

Selling, General and Administrative Expenses

Selling, general and administrative expenses ("SG&A") for Q2, 2017 were $1,133,456, representing an increase of 13% compared with $999,500 reported for Q2, 2016. Excluding the costs associated with share-based compensation (a non-cash item in which options vest over a four-year period), SG&A expenses increased by 4% in Q2, 2017 compared with Q2, 2016.

The increase in SG&A expenses is attributable to the net effect of (i) an increase of 7% in employee compensation, (ii) a decrease of 40% for professional fees, primarily due to a decrease in accounting fees and deferred patent expenses, (iii) an increase of 37% in office and general expenses, due to a decrease in computers and internet expenses, (iv) travel costs increased by 74%, due to an increase in travel abroad, (v) depreciation on property and equipment decreased by 9%, asset under development in Q2 2017 will begin to be depreciated when the asset is available or ready for use, (vi) government grants decreased by 41% due to lower level of activities supported by such grants, (vii) other expenses increased by 41%, primarily due to the higher cost of freight and shipping, and (viii) an increase in share base payments of 278% primarily due to the vesting structure of the stock option plan and the stock options offered on September 25, 2016.

 

Total Comprehensive Loss

The comprehensive loss for Q2, 2017 was $608,584 compared to a loss of $1,345,000 in Q2, 2016, representing a decrease of 55% quarter-over-quarter.

The decrease of $736,416 in the comprehensive loss in Q2, 2017 is primarily attributable to: (i) an increase in product and service related revenue of $1,354,407, (ii) an increase in cost of sales and services totaling $385,370 as explained above, (iii) an increase in SG&A expenses of $133,956 as explained above, (iv) an increase in R&D expenses of $43,431 primarily due to the fact that many of the Company's engineering and R&D resources were concentrated on activities within projects under construction for clients, with such costs being recorded within cost of sales, (v) an increase in net finance costs of $404,505 due to a decrease in the fair value of investments of $406,078.

 

EBITDA

The EBITDA loss in Q2, 2017 was $419,325 compared with an EBITDA loss of $801,894 for Q2, 2016, representing a decrease of 48%.

EBITDA (Mod.) gain in Q2, 2017 was $12,197 compared with an EBITDA (Mod.) loss of $876,029 for Q2, 2016. The increase of $888,226 in the EBITDA (Mod.) in Q2, 2017 is mainly attributable to the decreased comprehensive loss of $736,416, a decrease in depreciation on property and equipment of $3,005, a decrease of $349,269 in amortization of intangible assets, a decrease in finance charges of $1,572, a decrease in the fair value of investments of $406,078 and an increase in share-based payments of $99,579.

 

Liquidity

As at June 30, 2017, the Company had cash on hand of $258,138 and negative working capital of $6,486,226 compared with a cash balance of $385,257 and negative working capital of $2,079,353 as at December 31, 2016.

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

 

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal

VP, Investor Relations and Communications

(514) 937-0002

ir@pyrogenesis.com

rkafal@pyrogenesis.com



PyroGenesis Additive Announces the Development of New Plasma-Based Process to Produce Metal Powders; Production of MIM Cut in Quantity; Ramp-Up Update

MONTREAL, QUEBEC--(Marketwired - Aug. 14, 2017) - PyroGenesis Additive, a division of PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR) (OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has developed a new plasma-based process to produce metal powders which, not only enables MIM cut powder production at higher volumes, but may have a greater impact on the market than the Company's original Plasma Atomization technology. Furthermore, the Company announces that the previously announced ramp-up phase for its first powder production system remains on schedule.

 

The Company provides the following highlights and developments to date:

On October 26, 2015, PyroGenesis announced that it was re-entering the market to produce metal powders, specifically for Additive Manufacturing (3D printing);

On April 7, 2016, PyroGenesis announced its intention to spin-off its Additive Manufacturing capabilities into an independent public entity;

On April 27, 2016, PyroGenesis announced that its 3D Printing particle size distribution greatly exceeded expectations;

On October 25, 2016, PyroGenesis announced that it had filed a patent for an improved metal powder production process and that the Company was on schedule for a 2017-Q1 powder production system assembly and first production run;

On January 23, 2017 and March 14, 2017, PyroGenesis provided updates on 3D Printing and reaffirms that it is on schedule for 2017-Q1 assembly and first production run despite delays with suppliers;

On March 30, 2017, PyroGenesis announced that it had completed the assembly of its first powder production system, with its first powder run exceeding expectations, and that the ramp-up, which was already underway, was expected to take place linearly over approximately four (4) months;

On April 25, 2017, PyroGenesis announced receipt of its first powder order from a multinational conglomerate, with the down payment already received, and market interest exceeding expectations;

On June 7, 2017, PyroGenesis announced receipt of its second powder order;

On June 14, 2017, PyroGenesis announced creation of PyroGenesis Additive; and

On June 19, 2017, PyroGenesis announced receipt of its third powder order and successful delivery of its first order which included both Titanium and Inconel powders;

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an overview of today's announcement in the following Q&A format:

Q. What exactly is a "MIM cut"? 

A. MIM technically is short for "Metal Injection Molding". The MIM cut refers to a particularly small metal powder size typically used in metal injection molding, and is now becoming of interest to certain 3D metal printer manufacturers. The metal powder sizes we deal with are measured in microns, with the MIM cut typically being between 5-20 microns, and sometimes as high as 25 microns.

Q. Is PyroGenesis not the inventor of the Plasma Atomization technology? A technology that makes small, metal powders for 3D metal printers, and which in fact, has become the gold standard for the production of titanium powders for the industry?

A. Yes, that is correct. We are the inventors of the Plasma Atomization technology. A technology we use to produce very small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing ("AM") Industry. We first began producing powders using our Plasma Atomization technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led not only to a patent pending, but also to PyroGenesis' decision to re-enter the market and produce powders for the AM Industry. 

Q. Could you describe the MIM cut in relation to 3D printers and the Plasma Atomization technology's capabilities?

A. This is a very broad subject but I will try to give a brief overview recognizing the limitations of this forum.

Basically, there are now three (3) broad types of 3D printers using metal powders.

The first (1st) type is electron bean melting (EBM), used, for example, by Arcam printers, now part of GE Additive. EBM manufactures parts by melting metal powder layer by layer with an electron beam in a high vacuum. EBM technology uses the larger/coarsest fraction produced by our Plasma Atomization technology; typically, in the 45-106-micron range.

The second (2nd) type is Laser sintering, used, for example, in EOS, SLM, and Concept Laser printers. These printers use the small to middle fraction produced by our Plasma Atomization technology; typically, in the 15-45-micron range. Most metal printers use this small/middle fraction.

The third (3rd) type is an inkjet type technology, used, for example, by Desktop Metals, and whereby the powders are coated with a binder to "glue" the powders together. These printers require ultra-fine powder, smaller than the powder required for Laser sintering machines, and a size cut that, until recently, PyroGenesis was not focusing on. There are some printers that use inkjet type technology but only need coarser powders, but we are not reviewing these printers here.

Q. Ok, so PyroGenesis' Plasma Atomization technology is good at addressing the powder needs of the first two (2) types of metal printers, i.e. EBM and Laser sintering, which combined use a powder size of between 15-106 microns; however, what about the third (3rd) type, the inkjet type technology, that uses the ultra fine, or MIM cut requiring a powder size of between 5-25 microns? What is PyroGenesis doing to address this new market?

A. That is a very good question and one that investors have been asking us as of late, and is, in fact, the essence of our announcement today.

PyroGenesis' Plasma Atomization technology already produces powders for EBM and Laser Sintering in optimal quality and quantities. To the best of our knowledge, only plasma technology can produce the high-quality powders required for these printers.

Ironically, until the interest by 3D inkjet type metal printers in smaller powder sizes, the MIM cut was considered an undesirable by-product of the Plasma Atomization technology, with most of the economic value residing in the other two cuts encompassing the 15-106 powder size distribution.

In fact, several months ago, the Company was approached by a number of companies who were interested in MIM cut titanium powder and whereby it became apparent to us that the appetite for this ultra-fine powder was significant. As a result, we decided to pause our ramp-up phase to make adjustments to our Plasma Atomization technology in order to try and shift the particle size distribution towards this low end of the spectrum, and produce powders in the range required for such "inkjet" type 3D printing machines.

Q. …and were you successful?

A. Beyond our expectations. We were able to develop this new plasma-based process being announced today which in essence has given us significant control over the powder sizes produced, at significantly higher production rates, at less cost. We can now make MIM cut powders in very large quantities with little to no waste; thereby growing with, and enabling, those requiring ultra-fine powder, and meeting their strategic growth needs.

We believe this breakthrough is, if not more significant, then at least as significant as our original Plasma Atomization technology, and is just the beginning of what we can do with this new plasma-based technology. 

Q. What exactly do you mean by this?

A. It seems that we have not reached the limit of this new plasma-based process. By that I mean that once we achieved our goals (i.e. MIM cut, increased production rates), we backed off in favour of continuing with the ramp-up phase. Given our plasma expertise and our familiarity with the technology, we believe we have not even scraped the surface of what this new process can do with respect to production rates and powder quality.

Q. The bottom line is: have you produced MIM cut or is this all theory and conjecture? Plus, can you give us some indication of what production rates and powder quality you are talking about?

A. We most definitely have recently produced MIM cut titanium powder Grade 5. Grade 5 is the grade currently being requested by the third (3rd) type of inkjet printers mentioned above. Of interest is that not only can we make Grade 5 but it seems, though not yet confirmed, that we can also potentially make Grade 23 in the MIM cut. Grade 23 is the highest-grade titanium powder and, to the best of our knowledge, we know of no other powder producer that can make MIM cut titanium Grade 23, let alone in commercial quantities.

With respect to production rates, we consider that to be confidential information, however, suffice it to say that, we have not read anywhere, (i.e. web sites, articles, recent or otherwise) of any other plasma powder producer whose production rates or powder quality exceeds our capabilities. To the best of our knowledge, there is no single plasma-based powder producer that can produce powder in sufficient quality and quantity to serve the whole market, including the ultra-fine powders (or MIM cut) used by inkjet type printers.

Q. How has all this affected the ramp-up schedule, and if any, what challenges?

A. Interestingly enough, we made all these discoveries/improvements while staying true to the ramp-up schedule, that is to say, ramp-up is still scheduled for completion between the end of this coming September and beginning of October. In fact, we are actually slightly ahead of schedule right now, with production rates continuing to exceed our expectations.

The main challenge right now is how to incorporate the current advances announced today within our current platform, while still maintaining our ramp-up commitment and schedule. The beauty of these discoveries/improvements is that they can be incorporated into our existing platform with little to no increase in capital cost; in fact, ultimately, we expect a decrease in both capital and operating costs as a result. Our current strategy is to maintain the ramp-up schedule while integrating these improvements, as time permits, however, at this stage, it is too early for us to determine whether all these improvements will be fully incorporated by the end of the ramp-up phase.

Apart from that, we are experiencing the regular challenges that come with a ramp-up phase, but nothing that hasn't been solved or isn't manageable. All in all, we are more than happy with the progress to date.

Q. One last question. How can you make all these improvements, test different metals, and still be on track for ramp-up?

A. That's a very good question and one that's difficult to answer as it's very difficult to convey in writing the buzz that has engulfed PyroGenesis as of late; not just within our powder production business but also within our other lines as well (Drosrite™, chemical warfare agent destruction, the US Navy, just to name a few), and it is within this energized context that the answer lies.

What is the expression? If you want something done give it to a busy man? Well that applies 10-fold at PyroGenesis these days. We are plasma experts and we have built a team of unique individuals who are passionate about their work and challenges and don't turn off at 5pm. They are constantly thinking about solutions and improvements be it in the shower or on their drive back and forth to work. It is this truly unique team that that has enabled us to successfully introduce plasma-based solutions across a myriad of industries. 

To put this answer in the context of our ramp-up, one has to understand that the ramp-up phase does not take the system down for the full 24-hour day and it is the prudent allocation of these extra time slots for other activities that allows us to maintain the ramp-up schedule.

Q. Conclusion?

A. We are currently in the 17th week of our ramp-up phase and not only are we on schedule but we have during this period (i) produced other metal powders besides titanium (see our press release dated June 19, 2017), and most importantly (ii) have developed a new plasma-based process to produce metal powders which very well may be as game changing as our original Plasma Atomization technology.

We are plasma experts, we are the inventors of the plasma atomization technology, and we are back as a powder producer. Our goal is to enable AM (i.e. 3D printing) to reach new heights while at the same time address the current powder needs of the industry.

Additionally, the Company announces today that CAN$130,500 of warrants have been exercised. "Once again, this exercise of warrants is timely," said P. Peter Pascali, President and CEO of PyroGenesis. "As we noted in an earlier press release, we are currently looking beyond the ramp-up phase towards increasing production capacity ahead of our original expectations. This exercise of warrants, together with any future exercise of warrants and options, will enable us to implement plans to accelerate our original schedule to increase our production capacity of metal powders for the Additive manufacturing (3D Printing) Industry. We are still looking at ways to have up to three (3) additional powder production systems operating in 2018. To date, our metal powder production strategy is progressing far better than planned, and we are very pleased."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. 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 ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

Rodayna Kafal

VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com



PyroGenesis Announces Receipt of CAN$445,950 Under Existing Military Contract; Plus CAN$300,000 of Warrants exercised

MONTREAL, QUEBEC--(Marketwired - July 17, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma based systems and plasma torch products, is pleased to announce today that, further to its press release of January 10, 2017, wherein it was announced that the Company had signed two additional military contracts totaling approx. US$1.2MM (CAN$1.6MM), the Company has received US$367,982 (CAN$445,950) under one of these contracts.

The payment announced today is one of several payments received since January 10, 2017, by PyroGenesis totaling US$925,122 (CAN$1.2MM) under an original contract worth US$978,312 (CAN$1.25MM). The balance of approximately US$53K (CAN$68K) is expected to be received during Q3 2017.

Additionally, the Company announces today that CAN$300,000 of warrants have been exercised. "This exercise of warrants is timely," said P. Peter Pascali, President and CEO of PyroGenesis. "We are currently looking beyond the ramp-up phase towards increasing production capacity ahead of our original expectations. This exercise of warrants, together with any future exercise of warrants and options, will enable us to implement plans to accelerate our original schedule to increase our production capacity of metal powders for the Additive manufacturing (3D Printing) industry. We are currently looking at ways to have up to three (3) additional powder production systems operating in 2018. Overall, to date, our metal powder production strategy is progressing far better than planned, and we are very pleased."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com

www.pyrogenesis.com



 

PyroGenesis Announces Receipt of $230,168 Contract for Support During Testing of its Chemical Warfare Agent Destruction System Using Real Chemical Warfare Agents

MONTREAL, QUEBEC--(Marketwired - July 11, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high tech company (the "Company" or "PyroGenesis" or "PCI") that designs, develops, manufactures and commercializes plasma based systems and plasma torch products, is pleased to announce today that, further to its press release of April 19, 2017, it has received a CAN$230,168 contract to provide technical support during the next and final testing phase (the "Final Testing Phase") of its tactical Plasma Arc Chemical Warfare Agents Destruction System ("PACWADS" or the "System") which will now be tested using real chemical warfare agents.

On April 19, 2017, the Company announced that it had, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company's System with surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and the results far exceeded minimum requirements with over 99.9999% destruction efficiency. The Final Testing Phase, which is expected to take approximately six (6) months, will be conducted using real chemical warfare agents at secure military facilities abroad, and is expected to confirm the results obtained at PyroGenesis' facilities using surrogate chemical warfare agents.

"We are highly confident that our System will pass the Final Testing Phase particularly given the fact that we significantly exceeded the minimum requirements of 99.99% destruction efficiency using surrogates," said Pierre Carabin, Chief Technology Officer of PyroGenesis. "As previously announced, our System demonstrated more than 99.9999% efficiency using surrogates which emulated destruction of such chemical warfare agents such as sarin (GB), soman (GD), and mustard (HD). This additional contract will allow PyroGenesis to support testing using real chemical warfare agents at a secure site."

The System has already been shipped to a secure site and the Final Testing Phase begun. These tests are expected to be completed by the end of Q3 2017; however, this timeline is out of the Company's control.

"If successful, PACWADS will be one of the few technologies in the world capable of destroying chemical warfare agents. We anticipate that such success will open the doors to additional opportunities; for example, the safe destruction of Ebola contaminated material in countries such as Liberia", said Philippe Beaulieu, Senior Project Manager at PyroGenesis.

"A successfully developed System would safely destroy chemical warfare agent stockpiles onsite without having to transport these highly toxic chemicals to a remote location for processing, and although we would expect additional contracts resulting from a successful completion of the Final Testing Phase no indication has been given as to the size, if any, such procurement would entail," said P. Peter Pascali, President and CEO of PyroGenesis. "The fact that our System is in the Final Testing Phase reflects the significant advances that we, at PyroGenesis, have achieved, and which we expect to continue to achieve in the area of defense and chemical warfare agent destruction. This only further solidifies our position within the US military as being the 'go-to' supplier of plasma-based solutions."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com
www.pyrogenesis.com

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PyroGenesis Canada Inc. 
OTCQB : PYRNF
TSX VENTURE : PYR

PyroGenesis Canada Inc. 

June 29, 2017 14:26 ET

 

PyroGenesis Further Comments on Stock Trading Activity

MONTREAL, QUEBEC--(Marketwired - June 29, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, announces today that, further to its press release issued earlier today, and in response to a significant number of inquiries relating to a possible private placement offering, the Company confirms that there are absolutely no discussions to undertake any such offerings at this time.

"Given the enormous amount of inquiries, notably with respect to a private placement offering at a price ranging from $0.50-$0.70, we thought it prudent to inform the market and stakeholders that there is absolutely no private placement offering being considered at this time, in this or any other price range." said P. Peter Pascali, President and CEO of PyroGenesis. "Although it is our policy not to comment on such inquiries, we believe under the circumstances it is necessary to do so. The fact of the matter is, we have recently refused offers to undertake a private placement offering when the stock was trading above $0.90. This is not to suggest that we would not consider financings should they be reasonable and necessary in the ordinary course of business; however, at this time no such discussions are being held."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

CONTACT INFORMATION

Rodayna Kafal

VP, Investor Relations and Communications

(514) 937-0002

ir@pyrogenesis.com or rkafal@pyrogenesis.com

www.pyrogenesis.com



PyroGenesis Comments on Unusual Stock Trading Activity; Provides Guidance on Q2-2017 Results

MONTREAL, QUEBEC--(Marketwired - June 29, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, announces today that it has observed significant and unusual trading in its common stock in recent days. Management knows of no reason that would give rise to such unusual trading and has no significant information to disclose which could lead to such activity. The Company is current on all its regular quarterly filings, has made (in advance) its second quarter interest payment due under its previously completed convertible debenture, and plans to report its second quarter results in August as required by the TSX Venture Exchange.

"Recent market trading activities may well be difficult to understand, not only from the Company's perspective, but by shareholders and market players alike," said P. Peter Pascali, President and CEO of PyroGenesis. "We wish to reassure all of our stakeholders and market participants that the fundamentals of PyroGenesis, in terms of activities previously reported on, as well as the progress being made thereon, are not only sound but are moving forward at a rapid pace. Although we have not provided market guidance in the past, we believe, under the circumstances, that it would be most prudent to do so. As such, we can say with certainty that our Q2-2017 results will be significantly better than that posted for the same period in 2016, and in all likelihood will be cash flow positive from an EBITDA (adjusted) basis as well; which will make it the 3rd of the past four quarters that the Company has been cash flow positive on that basis. In short, we have never been better positioned and we are extremely confident with the progress being made across all of our business lines."

 

Additional information on the Company is available on SEDAR at www.sedar.com.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

 

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com

www.pyrogenesis.com

News Provided by QuoteMedia.



PyroGenesis Announces Successful Delivery of First Order of Titanium and Inconel Powders Plus Receipt of Third Powder Order During Ramp-Up Phase

MONTREAL, QUEBEC--(Marketwired - June 19, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, is pleased to announce today that not only has it signed its third contract for a sample order of titanium powder (Ti-6Al-4V) from a large manufacturer of 3D printers, the name and origin of which will not be disclosed for competitive reasons, but it has also, further to its press release dated April 25, 2017, successfully produced and delivered its first powder order. Of particular note is that this third order was also placed during the ramp-up phase of the Company's powder production system (the "System"), during which time the Company had no expectations of any powder sales at all. All three orders were from different clients.

"As we previously announced, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made during ramp-up to be very significant as this would further validate our strategic decision to re-enter the market for powder production," said P. Peter Pascali, President and CEO of PyroGenesis. "The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market's confidence in our capabilities and the underlying demand for our product. As we have said before, although these orders are sample orders, what is truly noteworthy is that they have been received during our ramp-up phase, and the fact that these clients have taken the time to sample our powders and allocate the funds to qualifying them internally, all before the ramp-up phase is complete, is extremely significant."

"The level of interest in our capabilities has taken us all by surprise as we did not expect this much interest so early on in and, of course, we are happy with the results so far," said Massimo Dattilo, Vice President of PyroGenesis Additive. "Of note in today's announcement, is that the first order was not only for Ti-6Al-4V but also for Inconel powder. This is indeed a watershed mark for the Company as it underscores the flexibility in the system and our capabilities as a company; and it has all taken place well ahead of our most aggressive expectations."

As previously announced, PyroGenesis is the inventor of Plasma Atomization. The Company's System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing ("AM") Industry.

The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led to a patent pending.

On March 30, 2017, the Company announced that it had completed the assembly of its first System and that the first powder run exceeded expectations. This System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1 The ramp-up of the System is expected to be completed over the next few months.

"Our team remains focused and dedicated to our commitments to deliver high quality powders to the Additive Manufacturing Industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry", said Pierre Carabin, Chief Technology Officer of PyroGenesis. "We are on schedule and extremely happy with the continuous increase we are seeing in our process performance."

Separately, PyroGenesis is also pleased to announce today that it is implementing an online marketing and awareness program through AGORACOM, wherein the Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine and social media marketing. In addition, exclusive sponsorships of invaluable digital properties such as the AGORACOM home page, AGORACOM TV, and the AGORACOM Twitter account will serve to significantly raise awareness of PyroGenesis' business among small cap investors. The PyroGenesis discussion forum can be found at https://agoracom.com/ir/PyroGenesisCanada/forums/discussion.

Additionally, AGORACOM has launched "CEO Verified" Discussion Forums, the first ever verification of small cap executive posts on a finance platform. For the first time ever, small cap CEOs and other company officials can use AGORACOM discussion forums as their main social media platform to post comments and interact with both shareholders and the broader investment community in a fully moderated and verified forum. Posts to AGORACOM are shareable on Twitter, Facebook and LinkedIn. There are no log-in requirements for investors to read posts; those wishing to post questions, comments and interact with PyroGenesis officials can quickly log-in using their Facebook or LinkedIn accounts, or create a new user account.

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

 

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal

VP, Investor Relations and Communications

(514) 937-0002

ir@pyrogenesis.com or rkafal@pyrogenesis.com

www.pyrogenesis.com



PyroGenesis Announces Creation of "PyroGenesis Additive": Division Dedicated to Additive Manufacturing and First Step to Spin-off; Provides General Update on Additive Manufacturing

MONTREAL, QUEBEC--(Marketwired - June 14, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has created a new division under the name of "PyroGenesis Additive", dedicated solely to PyroGenesis' additive manufacturing business line. This is the first step to the Company's previously announced strategic spin-off.

PyroGenesis is the inventor of Plasma Atomization, using this process to produce very small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing ("AM") Industry.

The Company first began producing powders using Plasma Atomization for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led not only to a patent pending, but also to PyroGenesis' decision to re-enter the market and produce powders for the AM Industry.

The following highlights and developments have been made to date:

The current production system is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM Industry.1

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an update on the developments within PyroGenesis' AM business line in the following Q&A format:

Q. Very very busy year so far for PyroGenesis and now we see the creation of PyroGenesis Additive.

A. Most definitely. Over the top. Exceeds our wildest expectations on every front.

Q. So are we finally going to see some movement with respect to the spin-off announced in April 2016?

A. Most certainly. The creation of PyroGenesis Additive is definitely the first step in spinning off our AM capabilities, which we announced over a year ago, into a standalone entity. We are dedicated to a spin-off for a number of reasons, all of which speak to increasing shareholder value. A spin-off, should be less complicated to analyze and we feel it would appeal to a larger investor audience who, although interested in investing in the AM Industry, have little or no interest in either understanding, or investing in, our other business lines (i.e. waste destruction, DROSRITE™, PUREVAP™, amongst others), and a spin-off could help avoid this. Concurrently, we feel a spin-off would provide for a clearer, and better defined, entity, which third parties could consider for joint ventures, strategic alliances, or even an acquisition of PyroGenesis Additive.

Q. Why the delay in the spin-off?

A. Simply put: the world of AM has changed significantly since we first announced our intention to spin-off our additive manufacturing capabilities; and, may I add, all for the better for PyroGenesis' shareholders.

Over a year ago, we announced our intention to start producing speciality powders for the AM Industry which garnered such interest that it became apparent that PyroGenesis' shareholders might be best served by spinning off this business line.

As such, we announced our intention to spin off our AM capabilities, but while completing our analysis of the various options available, and just when we were about to make a decision, General Electric ("GE") announced its acquisition of Arcam, in November 2016, for approximately US$700MM. Now this is noteworthy because Arcam's subsidiary, AP&C, which was acquired by Arcam for Can$35MM in 2014(2), produced powders using PyroGenesis' old proprietary technology under an agreement which precluded PyroGenesis from competing against AP&C until 2012. Of particular note, through Arcam, AP&C became the dominant supplier of speciality powders to the AM Industry. GE's acquisition of Arcam, and by extension of AP&C, has effectively disrupted the supply chain of speciality powders in the AM Industry which has caused end users of such powders to re-examine their access to them, all while PyroGenesis is re-entering the market as a supplier of such powders.

It would not have been prudent for us to carry on with a spin-off merely because we announced such intentions a few months earlier, without fully analyzing the ramifications of the changing landscape.

Q. Where does the spin-off stand and what should investors expect?

A. We believe that the delays in the spin-off have essentially created more value for investors when PyroGenesis Additive is eventually spun off. We will have a working system, with dedicated employees contributing solely to the spin-off, thereby reducing risk and creating more value for PyroGenesis' shareholders. Additionally, since GE's acquisition of Arcam, there has been significant interest in PyroGenesis' powder production capabilities and as such, we believe there is a high probability that we will have visibility on, if not signed, contracts for long term powder supply by the time we spin-off PyroGenesis Additive. At this point, we believe the interests of our shareholders are best served if the spin-off were concurrent with the signing of long term contracts.

Q. When could we expect the spin-off to occur?

A. Given the interest in our powders during the ramp-up phase, we are, barring any developments to the contrary, still committed to a spin-off in 2017.

Q. Speak to us about the ramp-up phase. How is it going? Where do you stand? Have there been any significant issues or developments to report?

A. We could not be happier.

We assembled and commissioned the system, and had our first powder run, as promised, by the end of 2017-Q1 despite significant delays from suppliers. Next, our goal was to ramp-up to full capacity over the ensuing four (4) months (i.e. April-July). Our stated goal was to become a leading supplier of high purity powders with an initial focus on producing commercially pure Titanium and Ti-6Al-4V powders, with additional powders/products being developed on a case by case basis. We did not expect any powder sales until ramp-up was complete however, to our surprise, on April 25, we announced having received a sample order from a multinational conglomerate. To top that off, last week we announced receipt of a second sample order, which together we believe speaks to both the confidence in our capabilities and the demand for our product in the marketplace.

These orders, although excellent news, have nonetheless put some pressure on a number of aspects relating to ramp-up; in particular, the orders we received were not only for titanium powders which we are used to producing, but as announced, also for Inconel which we had never processed before.

To make a long story short, ramp-up was put on hold in order to fulfill the order for Inconel, but the following was done successfully. In fact, the powder production rate was far greater than that for Titanium and the Inconel powder was of exceptional quality; proving, amongst other things, the flexibility of our Plasma Atomization System and how quickly we can "pivot".

All that to say, given these orders, the ramp-up phase has been extended by approximately, 4-6 weeks.

Separately, but in parallel, PyroGenesis' existing quality control system (ISO 9001:2008 certified) is being expanded to include the additional protocols required by the AM Industry.

Q. Could you please provide an update on the next significant milestone in powder production?

A. Most certainly. We are currently producing flowable powder batch after batch. What is even more noteworthy is the fact that, although our original ramp-up envisioned producing Ti64, we have also successfully produced Inconel powders and are currently in discussions to consider producing additional materials as well.

The next milestone is to move to a 2 shift/day, which we are currently hiring and training for. Given the natural lag that occurs during the summer, we are not expecting this to be completed before the end of August.

Q. Could you give us an indication in terms of production rate and quality of the powders at this stage of the ramp-up phase?

A. Again, we are very happy with the results so far. First and foremost, our production rate is significantly better than what we used to have. The powders already meet or exceed the ASTM specifications and we expect that by the end of the ramp-up phase our Ti64 powders will be of a significantly higher quality.

Additionally, we have adjusted the process to be Tungsten free, something it seems that various industries are interested in, and we are very happy with the results so far. We expect that by year-end, we will be able to guarantee a Tungsten free product.

Q. Any concerns?

A. Yes and no. We have definitely underestimated the interest in our production and it has become apparent that we need to expand our capacity faster than originally planned. We currently have plans to order the long lead items for 3 more systems in anticipation of having to address this need.

Separately, this early interest has caused us to think of adding in-house analytical capabilities and automated sieving processes earlier than planned. All this bodes well for the underlying business as both speak to quicker turnaround time and more reliable post production processing.

Q. In your April 25th press release you noted that you had "…signed a number of agreements with significant and potential players in the AM Industry, wherein the Company is in discussions regarding the possibility of concluding certain business relationships or transactions related to AM, most notably geared to the production of powders…". Could you elaborate on this?

A. Yes, but in all fairness we did point out that although noteworthy, we cautioned concluding that anything of significance would happen quickly, or even at all. Discussions take time and we are still in the early phases, and that still rings true.

However, we note that we have had discussions with top level metal printer manufacturers, distributors, and end-users; some at our facilities and others at theirs. It is indeed encouraging to see that our product is having the resonance that we thought it would have in the marketplace. The minimum takeaway should be the interest we are garnering from very discerning entities in such a short time frame.

Q. So, in conclusion, you are confident?

A. Absolutely. The decision to re-enter into powder production was the right one. The changes and consolidation in the marketplace over the past year have only underscored this decision. We are the inventors of Plasma Atomization, a process that arguably has helped bring AM to where it is today, and so we can say with confidence, that we are back. We are back to producing, but more so, improving the process that has become the gold standard in the AM Industry.

Q. Your goal?

A. As previously announced, our goal is not only to become a significant producer of metal powders to the AM Industry, but to bring the technology to a new level and enable 3D printing to reach new heights by effectively making our old technology, the gold standard, obsolete. We are making great strides on both fronts, and we have only been up and running for less than 3 months.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

http://advancedpowders.com/news/arcam-to-make-strategic-acquisition-of-metal-powder-manufacturer-to-secure-supply-of-strategic-raw-materials

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com



 

PyroGenesis Announces Receipt of Second Order for 3D Printing Powders During Ramp-Up Phase; Interest in Powders Continues to Increase 

MONTREAL, QUEBEC--(Marketwired – June 7, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, is pleased to announce today that it has signed its second contract for an order of titanium powder (Ti-6Al-4V) from a US based end user (the “Client”), the name and origin of which will not be disclosed for competitive reasons. Note, this is the second order placed during the ramp-up phase of the Company’s powder production system (the “System”), and exceeds the original expectations for powder sales during this phase. 

PyroGenesis’ System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing industry.

PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only led to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the AM industry. The System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.   

“As previously announced on March 30, 2017, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made before such time to be very significant as this would further validate our strategic decision to enter into powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “Although this order is a sample order what is truly noteworthy is it’s the second order we have received during ramp up.  The fact that this Client has taken the time to sample our powders and allocate the funds to qualifying it internally, all before the ramp-up phase is complete is extremely significant. The two sample orders received to date exceed our initial expectations for powder sales. We believe that a third sample order received during the ramp up phase would underscore the interest in the marketplace for PyroGenesis’ products and unique expertise.”

On March 30th, 2017, PyroGenesis announced that it had completed the assembly of its first powder production system, and that the first powder run exceeded expectations.  The ramp-up that was already underway was expected to take place over the ensuing (4) months (April-July).

  “We note that so far the operational performance and progress to date, during the ramp-up phase, far exceed our expectations,” said Pierre Carabin, Chief Technology Officer of PyroGenesis. “Our team remains focused and dedicated to our commitments to deliver high quality powders to the additive manufacturing industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry.” 

“These continue to be very exciting times for PyroGenesis,” said Mr. Pascali. “This second order, and although noteworthy, we continue to be cautious from concluding that anything of significance will happen quickly. Discussions take time and we are still in the early phases.  Suffice it to say at this point that there have been no disappointments and we continue to be happy with the progress and developments to date.”

The Company will be issuing an in depth update on the progress of its Powder Production business line within the next week where a review will take place on all aspects of that sector.  

About PyroGenesis Canada Inc. 

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.  

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

 



ProMIS(TM) Neurosciences Appoints William C. Mobley to Scientific Advisory Board

Canada NewsWire

TSX: PMN

TORONTO and CAMBRIDGEMAJune 6, 2017 /CNW/ - ProMIS Neurosciences, Inc., a biotechnology company focused on the discovery and development of precision treatments for neurodegenerative diseases, today announced the appointment of William C. Mobley, M.D., Ph.D., to the Company's scientific advisory board (SAB). Dr. Mobley is Associate Dean for Neurosciences Initiatives, Distinguished Professor of Neurosciences, Florence Riford Chair for Alzheimer Disease at the University of California, San Diego (UCSD), and the university's Executive Director of the Down Syndrome Center for Research and Treatment.

ProMIS Neurosciences Inc. (CNW Group/ProMIS Neurosciences Inc.)

"We are delighted that Bill has joined our renowned Scientific Advisory Board," stated Dr. Neil Cashman, ProMIS Chief Scientific Officer and co-chair of the SAB. "As one of the most prominent academic neurologists in the U.S., Bill brings an outstanding record of achievement in the field of neurodegenerative diseases. We look forward to his insightful contributions to our programs targeting toxic forms of Amyloid beta in Alzheimer's disease and Down syndrome."

Commenting on the appointment, Dr. Mobley stated: "The important role played by toxic, prion-like forms of Amyloid beta in the development and progression of Alzheimer's disease is now well established. I look forward to contributing my expertise in this field to the ProMIS Scientific Advisory Board, as the Company develops antibody therapeutics selectively targeting these toxic proteins for the treatment of Alzheimer's disease and potentially address the cognitive decline in Down syndrome."

William C. Mobley, M.D., Ph.D., holds numerous leadership roles across neuroscience, Alzheimer's disease, and Down syndrome at the University of California, San Diego (UCSD). He is recognized nationally and internationally for his research on degenerative disease of the central nervous system. Previously, Dr. Mobley served as the John E. Cahill Family Professor in the Department of Neurology and Neurological Sciences at Stanford University, where he was also the founding director of the university's Neuroscience Institute.

Dr. Mobley's research focuses on the neurobiology of neuronal dysfunction in developmental and age-related disorders of the nervous system. He has conducted pioneering work on the neurobiology of Alzheimer's disease and his emphasis on the neurobiology of Down syndrome has brought new insights into the condition, including possible treatments.

Dr. Mobley has received many awards and distinctions. He is a member of the Institute of Medicine, National Academy of Sciences. He collaborated with the Dalai Lama to create the Center for Compassion and Altruism Research and Education at Stanford University. He also serves as the expert advisor to the Congressional Down Syndrome Caucus.  He was recipient of the Christian Pueschel Memorial Award in 2007, the International Sisley-Jérôme Lejeune Prize in 2011 and the Dr. William Cohen Researcher of Distinction Award from the LuMind Foundation in 2015. 

About the ProMIS Scientific Advisory Board
The ProMIS SAB brings together a multidisciplinary group of specialists in Alzheimer's and neurodegenerative disease along with experts in neurotoxic, prion-like misfolded proteins. In addition to Dr. Mobley, the current members of the Company's SAB are:

  • Todd E. Golde, M.D., Ph.D., is Director of the Center for Translational Research in Neurodegenerative Disease at the University of Florida where he directs a robust program of scientific discovery aimed at translating basic discoveries in neurodegenerative disease into diagnostics and treatments for patients. Dr. Golde is co-chair of the SAB;
  • Neil R. Cashman, M.D., is Chief Science Officer at ProMIS Neurosciences and Professor of Medicine at the University of British Columbia, where he holds the Canada Research Chair in Neurodegeneration and Protein Misfolding Diseases, and serves as the Director of the UBC ALS Centre. Dr. Cashman is recognized as a pioneer in the field of prion-like misfolded proteins and their role in development of neurodegenerative diseases, in particular ALS and AD. Neil Cashman is co-chair of the SAB;
  • Lary C. Walker, Ph.D., is Associate Professor of Neurology and Research Professor at Emory University Yerkes National Primate Research Center. Lary Walker's research has been directed toward understanding the mechanisms by which the Alzheimer-associated proteins Amyloid beta and tau form pathogenic assemblies in vivo and how these agents spread in the brain.

 

About ProMIS Neurosciences, Inc.

ProMIS Neurosciences is a TSX listed biotech company (trading symbol: PMN.TO), headquartered in Toronto, Ontario and with offices in Cambridge, Massachusetts. The mission of ProMIS is to discover and develop precision medicine therapeutics for effective treatment of neurodegenerative diseases, in particular Alzheimer's disease and ALS.

ProMIS Neurosciences' proprietary target discovery engine is based on the use of two, complementary techniques. The Company applies its thermodynamic, computational discovery platform — ProMIS and Collective Coordinates — to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Using this unique "precision medicine" approach, ProMIS Neurosciences is developing novel antibody therapeutics and specific companion diagnostics for Alzheimer's disease and ALS. The company has also developed two proprietary technologies to specifically identify very low levels of misfolded proteins in a biological sample. In addition, ProMIS Neurosciences owns a portfolio of therapeutic and diagnostic patents relating to misfolded SOD1 in ALS, and currently has a preclinical monoclonal antibody therapeutic against this target.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release may contain certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information please consult the Company's website at: www.promisneurosciences.com

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SOURCE ProMIS Neurosciences Inc.

 

View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2017/06/c4484.html

For media inquiries, please contact: Scott Santiamo, RussoPartners/LLC, Scott.Santiamo@russopartnersllc.com, Tel. 718 344-5843; David Schull, RussoPartners/LLC, David.Schull@russopartnersllc.com, Tel. 858 717-2310, Dr. Elliot Goldstein, President and Chief Executive Officer, ProMIS Neurosciences Inc., Tel. 415 341-5783, Elliot.goldstein@promisneurosciences.comCopyright CNW Group 2017



PyroGenesis Announces Q1 2017 Results: Cash Flow Positive on EBITDA (Adj.) Basis; Revenues Increase 67%; Gross Margins Increase to 52%; Current Backlog $9.4MM

MONTREAL, QUEBEC--(Marketwired - May 30, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today its financial and operational results for the first quarter ended March 31, 2017.

Q1 2017 results reflected the following highlights:

  • Revenues increased 67% to $1.7MM in Q1 2017 from $1.0 MM posted in Q1 2016;
  • Gross profit after amortization of intangible assets increased to 52% in Q1 2017, from - 5.5% over the same period in 2016. (Gross profit before amortization of intangible assets increased to 52% in Q1 2017 from 29% over the same period in 2016);
  • Most importantly, Q1 2017 was profitable on an EBITDA (adjusted) basis. Q1 2017 posted an EBITDA (adj.) of $22.6K versus a EBITA (adj.) loss of $649.5K;
  • Over $13.5MM in contracts were signed, and work begun on, since June 30, 2016 which, taken in context of historic revenues (2016: $5.2MM; 2015: $6.2MM; 2014: $5.8MM) is quite significant. Backlog of signed contracts as of the date of this writing is $9.4MM;
  • Cash on hand at March 31st 2017 was $1.3 MM (December 31st 2016: $385K).

At year end 2016, we described the preceding twelve months as being a pivotal year for PyroGenesis as the Company shifted its focus away from being a fabricator of plasma-based systems that produced unique titanium powders, in favour of becoming a producer of metal powders for the Additive Manufacturing Industry (the "Industry"). Given their unique properties (pure, small, spherical, and uniform; which make them flow like water), these powders are greatly sought after in the Industry, particularly 3D printing. Given this strategic shift, together with the backlog of signed contracts from our non-additive manufacturing business ("Core/Traditional Lines of Business") of over $13MM since June 30, 2016, we projected that 2017 was shaping up to be a break out year for PyroGenesis, and Q1 2017 has not disappointed.

The Company will be issuing an in depth update on the progress of its Powder Production business line within the next two weeks where a review will take place on all aspects of that sector. Suffice it to say at this point that there have been no disappointments and we are very happy with the progress and developments to date.

What is key to note is that these results reflect revenues from what we call our Core/Traditional Lines of Business (ie no revenues from powder sales at all), however expenses reflect certain costs of building our first powder production system which came on stream in Q1 2017 and is, as previously announced, currently ramping up to full production.

We are more convinced than ever before that 2017 is the breakout year we have been positioning the Company for, for a number of reasons:

  • The healthy gross margins established in 2016 (before consideration of the 2016 write- offs), have improved, and are expected to continue to improve once powder production is in full swing; 
  • Established backlog of signed contracts, the majority of which are expected to be completed in 2017; 
  • Our Core/Traditional Lines of Business are poised to contribute significantly to the bottom line and be both profitable and significant in their own right.

The following is a non-exhaustive review of PyroGenesis' main commercial activities:

  1. Powder Production: The Company has met every milestone announced on the road to making metal powders for the Industry. It was recently announced that the assembly of the first powder production system was completed and that the first powder run exceeded expectations. The ramp up is under way and is expected to take place linearly over the ensuing months. As announced in recent press releases interest has far exceeded Managements' expectations and an initial contract was signed for a sample amount of powder. Also recently announced was the fact that the Company has signed a number of agreements with significant and potential players in the Industry reflecting various discussions regarding the possibility of concluding certain business relationships or transactions geared to the production of powders. The current system is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the Industry1
  2. DROSRITE™: The DROSRITE™ Furnace System was proven out at a North American customer's Mexican facility during the first half of 2016. Soon thereafter, a successful demonstration of the DROSRITE™ System in the Middle East took place, following which an unsolicited request to exclusively market the process in the region was received and is currently being discussed. Management's belief that the supply and installation of the first commercial sale in North America would enable the Company to leverage this success to generate a continued flow of orders for additional DROSRITE™ systems is being borne out. This recent flurry of activity and interest for the DROSRITE™ system bodes well for 2017 where we now expect to have at least 3 orders placed. We continue to expect the first follow on contracts to be signed in the 2nd half of 2017. The market potential for PyroGenesis' DROSRITE™ system, from Aluminium dross alone, exceeds $400MM.
  3. HPQ: On August 2, 2016 PyroGenesis announced that it had signed contracts totalling CDN $8,260,000 with HPQ Silicon Resources Inc., formally Uragold Bay Resources Inc. for the sale of IP and to provide a 200 metric tonne (MT) per year PUREVAP™ pilot system to produce silicon metal directly from quartz. This system will for the most part be constructed in 2017, with advancement of the contract accelerating in the second half of the year. According to percent completion accounting standards for revenue recognition the majority of these revenues will be recognized in the 2nd half of 2017. Of note, if successful, PyroGenesis benefits from a 10% royalty on all revenues derived from the use of this system by HPQ, subject to annual minimums.
  4. Chemical Warfare Destruction System: The Company recently announced that PyroGenesis has, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company's tactical Plasma Arc Chemical Warfare Agents Destruction System ("PACWADS") using surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and far exceeded minimum requirements with over 99.9999% destruction efficiency. The PACWADS has, as of this writing, been delivered to the testing site and is currently going through final testing using real chemical warfare agents. These tests should be completed by the end of Q3 2017 (this timeline however is out of the Company's control). Again this bodes well for 2017 as we would expect additional contracts resulting from a successful completion of the final testing. However, no indication has been given as to the size, if any, such procurement would entail.
  5. Other Contracts: There are other contracts being discussed (such as a third order for a PAWDS for a New US Aircraft Carrier which is expected to be ordered sometime towards the end of 2017/beginning of 2018 with an estimated value of approximately $6MM; SPARC system sales, amongst others) which give us confidence that 2017 will be the break out year.

Given the above, we expect a strong performance in the coming year, and based on existing contracts, the Company expects to be profitable in 2017 (excluding any contribution from powder sales) as noted above. Our projections for 2017 are only heightened by the reception we have received so far and how our entrance as a powder producer has been so well received by the Additive Manufacturing community.

Management remains focused on reducing PyroGenesis' dependency on long-cycle projects by developing a strategic portfolio of volume driven, high margin/low risk products that resolve specific problems within niche markets, and doing so by introducing these plasma-based technologies to industries that have yet to consider such solutions.

Management is also actively targeting recurring revenue opportunities that will generate a growing, and profitable, regular cash flow to the Company.

PyroGenesis has one of the largest concentrations of plasma expertise in the world, with over 250 years of accumulated technical experience and 59 patents, combined with unique relationships with major Universities performing cutting edge plasma research and development, which positions the Company well to execute upon its various strategies.

Financial Summary

Revenues

The Company posted revenues of $1,696,138 in the first quarter of 2017 ("Q1, 2017"), representing an increase of 67% compared with $1,016,853 recorded in the first quarter of 2016 ("Q1, 2016"). Revenue recorded in Fiscal 2016 was generated primarily from (i) the sale of intellectual property and development of a vacuum arc reducing process to convert Silica into high purity Silicon metal, (ii) manufacture and further field testing of Tactical PACWADS, the first mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, (iii) the demonstration of the viability of PyroGenesis' existing plasma chemical warfare agent destruction platform with locally available materials, for the complete eradication of chemical warfare agents without creating hazardous by-products, and (iv) support services related to PAWDS-Marine systems supplied to the US Navy.

Cost of Sales and Services and Gross Margins

Cost of sales and services before amortization of intangible assets was $820,864 in Q1, 2017, representing an increase of 13% compared with $723,256 in Q1, 2016. Total costs of sales and services, was $820,264 representing a decrease of 24% compared with $1,072,524 in Q1, 2016.

Various factors, including, but not limited to, the mix of long and short-term manufacturing projects, project complexity and scale, and project R&D content, may significantly impact both the composition and overall level of cost of sales and services reported in a given period, as the mix of labor, materials and subcontracts may be significantly different.

The costs incurred in Q1, 2017 are primarily attributable to the work completed under PyroGenesis' project to develop a vacuum arc reducing process to convert Silica into high purity Silicon metal, work completed on the tactical mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, and support services related to PAWDS Marine systems supplied to the US Navy.

Investment tax credits recorded against cost of sales are primarily related to client funded projects that qualify for tax credits from the provincial government of Quebec. Qualifying tax credits increased to $132,246 in Q1, 2017, compared with $108,815 in Q1, 2016. This represents an increase of 22% quarter-over-quarter. The Company continues to make investments in research and development projects incorporating the involvement of strategic partners and government bodies.

In Q1, 2017, the gross margin before amortization of intangible assets was $875,874, which represents 51.6% of revenue. This compares with a gross margin before amortization of intangible assets of $293,597 (28.9% of revenue) for Q1, 2016.

The amortization of intangible assets of Nil in Q1, 2017 ($349,268 in Q1, 2016) relates to the licenses and know-how purchased in 2011 from a company under common control. This expense is a non-cash item and the underlying asset was fully amortized by December 31, 2016.

Selling, General and Administrative Expenses

Selling, general and administrative expenses ("SG&A") for Q1, 2017 were $1,148,916, representing an increase of 10% compared with $1,048,915 reported for Q1, 2016. Excluding the costs associated with share-based compensation (a non-cash item in which options vest over a four year period), SG&A expenses increased by 3% in Q1, 2017 compared with Q1, 2016.

The increase in SG&A expenses is attributable to the net effect of (i) a decrease of 2% in employee compensation, (ii) an increase of 10% for professional fees, primarily due to increase in investor relations, (iii) a decrease of 1% in office and general expenses, due to a decrease in courses and seminars, (iv) travel costs increased by 6%, due to an increase in travel abroad, (v) depreciation on property and equipment decreased by 22%, (vi) government grants decreased by 100% due to lower level of activities supported by such grants, (vii) other expenses increased by 1%, primarily due to the reduced cost of freight and shipping, and (viii) an increase in share base payments of 12% primarily due to the vesting structure of the stock option plan and the stock options offered on September 25, 2016.

Total Comprehensive Loss

The comprehensive loss for Q1, 2017 was $298,610 compared to a loss of $1,248,661 in Q1, 2016, representing a decrease of 76% quarter-over-quarter.

The decrease of $950,051 in the comprehensive loss in Q1, 2017 is primarily attributable to: (i) an increase in product and service related revenue of $679,285, (ii) an increase in cost of sales and services totaling $97,009 as explained above, (iii) an increase in SG&A expenses of $100,002 as explained above, (iv) an increase in R&D expenses of $25,187 primarily due to the fact that many of the Company's engineering and R&D resources were concentrated on activities within projects under construction for clients, with such costs being recorded within cost of sales, (v) an increase in net finance costs of $6,647 due to an increase in accretion costs on convertible debentures, (vi) an increase in finance income of $150,343 due to the adjustment of the fair market value of other investments.

EBITDA

The EBITDA loss in Q1, 2017 was $115,565 compared with an EBITDA loss of $715,937 for Q1, 2016, representing a decrease of 84%.

Adjusted EBITDA gain in Q1, 2017 was $22,586 compared with an Adjusted EBITDA loss of $649,506 for Q1, 2016. The increase of $672,092 in the Adjusted EBITDA in Q1, 2017 is mainly attributable to the decreased comprehensive loss of $950,051, a decrease in depreciation on property and equipment of $7,058, a decrease of $349,268 in amortization of intangible assets, offset by an increase in finance charges of 6,647 and an increase in share-based payments of $71,720.

Liquidity

As at March 31, 2017, the Company had cash on hand of $1,278,447 and negative working capital of $6,004,376 compared with a cash balance of $385,257 and negative working capital of $2,079,353 as at December 31, 2016.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

PyroGenesis Canada Inc.
Mr. P. Peter Pascali
President and CEO
(514) 937-0002
ppascali@pyrogenesis.com



PyroGenesis Canada Inc.

May 16, 2017

PYROGENESIS PROVIDES 2ND PROGRESS REPORT TO HPQ SILICON RESOURCES INC.; 62% INCREASE IN IMPURITY REMOVAL; 531% YIELD INCREASE.

MONTREAL, QUEBEC--(Marketwired - May 16, 2017) - PyroGenesis Canada Inc.(http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to its press release dated January 26, 2017, it has submitted a progress report to HPQ Silicon Resources Inc. ("HPQ") entitled "Update on the PUREVAP™ Process Characterization Testing #2", which covers the period since the last technical report. The salient points of the report are significant in that they validate the systematic and methodical approach to the lab scale test purification work, and the scaling up of the process to convert quartz into high purity silicon metal.

The report confirms that recent, and ongoing, modifications to the PUREVAP™ process have resulted in: (i) a 62% improvement in the impurity removal capacity of the system using low purity quartz as feedstock and (ii) a 531% increase in yield of the silicon (Si) produced.

"We are pleased with the progress to date," said Pierre Carabin, Chief Technology Officer of PyroGenesis. "We have now reached a stage where we can start testing using high purity feedstock which will allow us to validate the impurity removal capacity of the lab scale reactor and ultimately, to further improve the product purity."

Having successfully secured access to high purity quartz (99.5% SiO2), the next phase will apply high efficiency impurity removal techniques to this higher purity feedstock. The objective of using a higher purity feedstock is to test the ability to reach the 5N (99.999%) benchmark at lab scale, and furthermore, to provide additional data which will help PyroGenesis with the final design of the pilot plant reactor. These tests will commence as soon as the latest process improvements are completed.

"These results demonstrate that the PUREVAP™ QRR quartz purification process can continue to be successfully improved while using low purity feedstock at the bench scale. This represents yet more important technical milestones being reached in our path toward production of Solar Grade Silicon Metal. At this stage of our development, we continue to pass critical milestones consistently and must continue our 'iterative' approach of incrementally increasing size, and purity step by step", said Bernard Tourillon, Chairman and CEO of HPQ. "Building on our scaling up success to date, the coming months should allow us to continue to make improvements to our scaling up program, while simultaneously testing for the best and greenest pathway to produce 5N (99.999% Si) Solar Grade Silicon Metal at lab scale, prior to start-up of the Pilot plant scheduled for 2018."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

 CONTACT INFORMATION:

PyroGenesis Canada Inc.
Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com
rkafal@pyrogenesis.com



PyroGenesis Canada Inc.
OTCQB : PYRNF
TSX VENTURE : PYR

PyroGenesis Canada Inc.

May 04, 2017 08:35 ET

PyroGenesis Announces Contract for Second Phase Lab Scale Testing Program Totalling CAN$170,000 with HPQ Silicon Resources Inc.

MONTREAL, QUEBEC--(Marketwired - May 4, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has signed a contract for CAN$170,000 with HPQ Silicon Resources Inc. ("HPQ"), wherein PyroGenesis will provide a second phase of Process Characterization Testing (the "Testing"), using a newly upgraded version of the lab scale PUREVAP™ Quartz Reduction Reactor (the "Reactor").

The purpose of the Testing is to build upon the bench scale success made to date and to push the design of the lab scale Reactor to a point that will allow it to operate in a semi-batch mode to produce silicon (Si) samples. The Testing will use higher purity feedstock (99.5% SiO2.) with a goal of producing at least 5N (99.999% Si) Solar Grade Silicon Metal at lab scale.

This Testing program will take place over the next several months, and will be in conjunction with the delivery of the pilot plant Reactor scheduled for October 2017. The objectives of these metallurgical tests will be, amongst others, to: (i) generate and collect data that can be used for the scale-up of the lab scale Reactor and ultimately, for the commercial scale-up of the PUREVAP™ process; and (ii) to continue testing different purification alternatives.

PyroGenesis will provide HPQ with samples for third party independent purity validation as well as a milestones report and final report summarizing the results and analysis.

"We are eager to start this additional testing phase," said Pierre Carabin, Chief Technology Officer of PyroGenesis. "This new testing will allow us to validate the design of pilot plant Reactor and to further improve the product purity."

"The further we proceed in this project, the more confident we are that we have found a plasma-based application that can be applied to quartz in a commercial setting," said P. Peter Pascali, President and CEO of PyroGenesis. "We are very pleased with the results to date. That is not to say we have succeeded, will succeed, or that there won't be challenges ahead. To the contrary, we fully expect there will be challenges as in any project; however we are certain that we will meet those challenges as we have with other projects, and find the best possible solution, if any. Once again, we are extremely pleased with the success of the project to date and the results that we have achieved."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

 

Contact Information



PyroGenesis Announces First Order for 3D Printing Powders from a Multinational Conglomerate; Down Payment Received; Interest Exceeds Expectations

 MONTREAL, QUEBEC--(Marketwired - April 25, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to its press release dated March 30, 2017, it has signed its first contract, and received the down payment, for an order of titanium powder (Ti-6Al-4V) and Inconel from a multinational conglomerate (the "Client"), the name and origin of which will not be disclosed for competitive reasons. Note, this order was placed during the ramp-up phase of the Company's powder production system (the "System").

"As previously announced on March 30, 2017, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made before such time to be very significant as this further validates our strategic decision to enter into powder production," said P. Peter Pascali, President and CEO of PyroGenesis. "This order is a sample order and is most significant in terms of timing and who the Client is, rather than the dollar value itself. The fact that a multinational conglomerate has taken the time to sample our powders before the ramp-up phase is complete is extremely noteworthy. We believe that the contract announced today is just one of many to come. We are very pleased with these developments which we believe underscore the interest in the marketplace for PyroGenesis' products and unique expertise."

PyroGenesis' System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing ("AM") industry.

PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only led to a patent pending, but also to PyroGenesis' decision to re-enter the market and produce powders for the AM industry. The System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1

Additionally, PyroGenesis announces today that it has signed a number of agreements with significant and potential players in the AM industry, wherein the Company is in discussions regarding the possibility of concluding certain business relationships or transactions related to AM, most notably geared to the production of powders.

"These are very exciting times for PyroGenesis," said Mr. Pascali. "These events seem to further validate our decision to enter the additive manufacturing industry, and although noteworthy, we caution concluding that anything of significance will happen quickly. Discussions take time and we are still in the early phases."

"The ramp-up phase will continue through the remainder of the second quarter of 2017, of which we note that the operational performance and progress to date far exceed our expectations," said Pierre Carabin, Chief Technology Officer of PyroGenesis. "Our team remains focused and dedicated to our commitments to deliver high quality powders to the additive manufacturing industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry."

Finally, as previously announced, the metal powders produced during the ramp-up phase are available for sale. The initial focus is on producing commercially pure Titanium (CP Ti) and Ti-6Al-4V powders; however PyroGenesis is receiving interest for other metal powders as well which it is also attending to.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)

CONTACT INFORMATION

 

 PyroGenesis Canada Inc.
Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com



PYROGENESIS ANNOUNCES SUCCESSFULLY DESTROYING SIMULATED CHEMICAL WARFARE AGENTS FOR THE US MILITARY;

EXCEEDING 99.9999% DESTRUCTION EFFICIENCY.

MONTREAL, QUEBEC--(Marketwired – April 19, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high tech company (the “Company” or “PyroGenesis” or “PCI”) that designs, develops, manufactures and commercializes plasma based systems and plasma torch products, is pleased to announce today that, further to its press release of September 14, 2016, PyroGenesis has, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company’s tactical Plasma Arc Chemical Warfare Agents Destruction System (“PACWADS” or the “System”) using surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and far exceeded minimum requirements with over 99.9999% destruction efficiency.

“DARPA’s mission is to make pivotal investments in breakthrough technologies, to affect transformational change instead of incremental advances. In the scope of this project, PyroGenesis’ System is the key to revolutionizing the mobile destruction of Chemical Warfare Agents (CWAs)”, said Jean-René Gagnon, Process Engineering Lead at PyroGenesis. “The Company is proud to be working with such a prestigious partner on such a challenging project.”

PyroGenesis’ PACWADS is a stand-alone thermal treatment device, with a liquid scrubber system. This mature technology is designed to be easily transported and deployed in a field setting, close to where threats may be found, to rapidly and safely destroy a wide range of chemical warfare agents. The System successfully underwent CWA simulant testing at the PyroGenesis facility in Montreal, Canada, in January and February of 2017.  The System demonstrated greater than a 6-log reduction in CWA simulant and the effective scrubbing of acid gases.

Under the DARPA ACDC program, SwRI designed a scrubber system that neutralizes toxic CWA decomposition products and acid gases into non-hazardous components by safely incorporating these compounds into soil and changing their state. The system is a modular and mobile unit. After the chemicals are destroyed, exhaust gases are passed through a soil-based scrubber beds where the byproducts of combustion are captured and further baked using a novel soil-based pollution abatement system. The soil, after use, remains non-hazardous and useful.

In February 2017, the SwRI soil-based scrubber module was connected to the PyroGenesis PACWADS plasma combustion chamber exhaust and tested. CWA simulants were destroyed by the plasma torch in a series of tests emulating destruction of CWA agents sarin (GB), soman (GD), and mustard (HD). The two modules – plasma torch front end, and ACDC soil scrubber back end – demonstrated a more than 99.9999% efficiency in CWA simulant reduction and the effective scrubbing of acid gases within a soil medium.

 “If successful, PACWADS will be one of the few technologies in the world certified to destroy CWAs.  PyroGenesis anticipates that receiving this certification will open the door to additional opportunities, such as the safe destruction of Ebola contaminated material, just to name one”, said Philippe Beaulieu, Senior Project Manager at PyroGenesis.

“A successfully developed system would safely destroy chemical warfare agent stockpiles onsite without having to transport these highly toxic chemicals to a remote location for processing,” said P. Peter Pascali, President and CEO of PyroGenesis. “Successfully completing this contract reflects the significant advances that we, at PyroGenesis, have achieved, and which we expect to continue to achieve in the area of defense and chemical warfare agent destruction. This, coupled with the fact that our plasma based waste destruction system is specified in the design of the new generation US aircraft carrier, with two systems already having been delivered, further solidifies our position within the US military as being the ‘go-to’ supplier of plasma-based solutions.”

Separately, PyroGenesis announces today that a series of warrants previously issued by the Company has been fully exercised. The warrants were issued in connection with a private placement offering completed on November 26, 2014, which terms were subsequently amended to effectively reduce the exercise price from $0.55 to $0.195, and to extend the expiration date from November 26, 2016 to November 26, 2017. As a result of such exercise, the Company received an aggregate amount of $417,857.12, and issued 2,142,857 common shares in its share capital.

PyroGenesis is also pleased to announce that it recently became a member of the 8020 Connect community. 8020 Connect (www.8020connect.com) is the investment industry's newest social investor network, developed to deliver corporate information to shareholders, investment industry experts and like-minded investors, while enabling these group members to interact with one another and with the company's corporate management team.

Through the 8020 Connect shareholder and investor network, PyroGenesis can communicate its corporate message and update advancements and financial information to all shareholders and investors in a timely and effective fashion. The 8020 Connect social media component provides direct interaction with shareholders, allowing the company to respond to questions and inquiries directly or through our private investor group forums. The 8020 Connect network will also allow PyroGenesis to expand its audience to interested investors and industry experts worldwide.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc. http://rt.newswire.ca/rt.gif?NewsItemId=C6815&Transmission_Id=201509090835CANADANWCANADAPR_C6815&DateId=20150909

 

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com



PyroGenesis Announces Completion of Powder Production System;
 Successful First Run of Powder Production; Start of Ramp-Up;
Interest exceeds Expectations.

MONTREAL, QUEBEC--(Marketwired – March 30, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that, further to its press releases of January 23, 2017 and March 14, 2017,  it has completed the assembly of its first powder production system (the “System”), with the first powder run exceeding expectations and ramp-up already underway. The ramp-up is to take place linearly over approximately four (4) months.

“The first production run not only exceeded our expectations in terms of powder quality and production rate”, said Pierre Carabin, Chief Technology Officer of PyroGenesis, “but it also marked both the official start of the ramp-up period and a critical step in achieving our stated goal to become a leading supplier of high purity powders catering to the Additive Manufacturing Industry. The first powders produced were Ti-6Al-4V, one of the most sought after powder on the market. In addition, the System will allow PyroGenesis to produce other materials such as Titanium alloys and nickel based superalloy materials.”

 “Although we were confident we would complete the System and first run on schedule and on budget, it is always nice to tick that box”, said P. Peter Pascali, President and CEO of PyroGenesis. “We were challenged at times by significant delays from suppliers, but it is a testament to the dedication and commitment of PyroGenesis’ team that we make this announcement today. A dedication and commitment one can expect to see throughout this project.” 

PyroGenesis’ System uses Plasma Atomization to make, small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing industry.

PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the biomedical industry, between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only lead to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the Additive Manufacturing industry. The System is the first of many PyroGenesis expects to make to address this increasing need for metal powders in the Additive Manufacturing industry.[1] 

Additionally, and as previously announced, powders produced during the ramp-up phase will be available for sale. The initial focus will be on producing pure Titanium (CP Ti) and Ti-6Al-4V powders however PyroGenesis has also received interest for other metal powders and expects to attend to this as well.

 

“What is noteworthy, beyond the technical successes announced today, is the continued interest we are receiving for the supply of our powders from potential customers, the volume of which, and from whom the interest is coming from, continues to take us all by surprise,” said Mr. Pascali. “We did not expect this type of interest before ramp-up was complete, and we would consider any sample orders (i.e. up to 500kg) made before ramp up is complete, to be very significant, and a further validation of our strategic decision to move into powder production.”

 

“As mentioned before, there are many factors which set us apart from all other powder producers,” added Mr. Pascali. “For one, the fact that PyroGenesis is the inventor of Plasma Atomization, and has one of the largest concentrations of plasma expertise under one roof, has enabled the Company to not only improve the process significantly, but allow it to continuously improve and thereby enable Additive Manufacturing. Let us not forget that PyroGenesis has produced Titanium powders in the past, and is not new to this prospect. Add to this the fact that there is serious consolidation taking place in the industry which is exasperating an already serious lack of powder suppliers, particularly of the characteristics we supply, all bodes well for PyroGenesis’ strategy to supply unique powders to the Additive Manufacturing industry. In short, we remain confident, and recent events including such a successful first powder production run, have only made us more optimistic than ever before, that PyroGenesis will quickly become a leading metallic powder supplier to the Additive Manufacturing (3D Printing) industry.”  

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc. http://rt.newswire.ca/rt.gif?NewsItemId=C6815&Transmission_Id=201509090835CANADANWCANADAPR_C6815&DateId=20150909

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

[1] Wohlers Report 2016 (ISBN 978-0-9913332-2-6)

 



 PyroGenesis Announces Receipt of CAN$531,600 Representing 4th Progress Payment Under Contract with HPQ Silicon Resources Inc.

 

MONTREAL, QUEBEC--(Marketwired – March 28, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to- energy systems and plasma torch products, announces today that it has received the  4th  progress payment under a previously announced $8.3MM contract with HPQ Silicon Resources Inc. (“HPQ”) to provide a 200 metric tonne (MT) per year PUREVAPTM pilot system (the “System”) to produce silicon metal directly from quartz (the “Contract”). To date, PyroGenesis has received payments in excess of CAN$3.9MM, or equivalent to more than 47% of the value of  the  Contract.

As previously announced on August 2, 2016, the Contract is for the design, fabrication, assembly, commissioning and testing of the System. We are currently in the design, fabrication and assembly phase, of which there remains approximately $1.5MM to be paid subject to certain milestones; $520,000 in payments are due during the commissioning phase; with an additional $2.3MM to be paid following various milestones during the testing phase.

To date, PyroGenesis has demonstrated that the System can:

__________________

 

1 See press release dated November 2, 2016 for further details.

2 See press release dated November 29, 2016 for further details.

3 See press release dated September 29, 2016 for further details.

4 See press release dated January 26, 2017 for further details.

5 See HPQ press release dated January 26, 2017.

 

Management continues to believe that the PUREVAP™ will have a significant impact on the solar industry. We note that there seems to be significant commercial applications for the System, at lower purity levels, as well (i.e. above 99.9%).

 

“At this stage, the design of the pilot system has progressed well and we have already delivered the Process Engineering Drawings and Mechanical Layout Drawings to the client,” said Pierre Carabin, Chief Technology Officer of PyroGenesis. “The next step will be to delivery the complete Equipment Specifications Package, which is already well underway. We are extremely pleased with the progress of the project so far and are looking forward to achieving our stated goals.”

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on  the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for  the adequacy or accuracy of this press release.

 

SOURCE PyroGenesis Canada Inc.

 For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com



PYROGENESIS PROVIDES UPDATE ON POWDER PRODUCTION SYSTEM ASSEMBLY; ALL COMPONENTS RECEIVED. 

ON SCHEDULE FOR Q1-2017 COMPLETION

MONTREAL, QUEBEC--(Marketwired – March 14, 2017) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a high tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma based systems and plasma torch products, is pleased to announce today that it has received all equipment, parts and components for its powder production system (the “System”), and that the System is well into the assembly phase.

PyroGenesis’ System uses Plasma Atomization to make very pure, small, uniform, fully dense, spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing industry.

PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the Biomedical industry, between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only lead to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the Additive Manufacturing industry. The System being built today is the first of many PyroGenesis expects to make to address this increasing need for metal powders in the Additive Manufacturing industry.[1]  

We also confirm today that the first powder run is still on schedule for the end of Q1, and that the ramp up is projected, as previously announced on January 23, 2017, to take place linearly, over the ensuing four (4) months.

Figure 1 - Plasma Atomization System Assembled

“So far there have not been any unforeseen challenges during the assembly phase, and we don’t expect any during the start-up or ramp up phases”, said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “What is noteworthy however, is the amount of interest we are receiving for the supply of our powders from potential customers and investors; the volume of interest from potential customers has taken us all by surprise.”

Additionally, and as previously announced, powders produced during the ramp-up phase will be available for sale. The initial focus will be on producing pure Titanium (CP Ti) and Ti-6Al-4V powders however PyroGenesis has also received interest for other metal powders and expects to attend to this as well.

“There are many factors which set us apart from all other powder producers,” said Mr. Pascali. “For one, the fact that PyroGenesis is the inventor of Plasma Atomization, and has one of the largest concentrations of plasma expertise under one roof, has enabled the Company to not only improve the process significantly, but allow it to continuously improve and thereby enable Additive Manufacturing. Let us not forget that PyroGenesis has produced Titanium powders in the past, and is not new to this prospect. Add to this the fact that there is serious consolidation taking place in the industry which is exasperating an already serious lack of powder suppliers, particulary of the characteristics we supply, all bodes well for PyroGenesis’ strategy to supply unique powders to the Additive Manufacturing industry. In short, we remain confident, and recent events have only made us more optimistic than ever before, that PyroGenesis will quickly become one of the leading metallic powder suppliers to the Additive Manufacturing (3D Printing) industry.”  

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (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. Its 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. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc. http://rt.newswire.ca/rt.gif?NewsItemId=C6815&Transmission_Id=201509090835CANADANWCANADAPR_C6815&DateId=20150909

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

[1] Wohlers Report 2016 (ISBN 978-0-9913332-2-6)



PyroGenesis Announces Receipt of CAN$531,600 Representing 3rd Progress Payment under Contract with HPQ Silicon Resources Inc.

MONTREAL, QUEBEC--(Marketwired - February 28, 2016) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a clean-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-  energy systems and plasma torch products, announces today that it has  received  the  3rd  progress payment under its previously announced $8.3MM contract with HPQ Silicon Resources Inc. (“HPQ”) to provide a 200 metric tonne per year PUREVAP™ pilot system (the “System”) to produce silicon metal directly from quartz (the “Contract”). To date, PyroGenesis has received payments in excess of CAN$3.3MM, or more than 40% of the value of the Contract.

As previously announced on August 2nd, 2016, the Contract is for the design,  fabrication,  assembly, commissioning and testing of the System. We are currently in the design, fabrication and assembly phase, of which approx. $2.0MM remains to be  paid  subject  to  certain milestones; with payments of $520,000 due during the commissioning phase, and an additional $2.3MM to be paid following various milestones during the testing phase. To date, PyroGenesis has demonstrated that the System can:

1 See press release dated November 2, 2016 for further details.
2 See press release dated November 29, 2016 for further details.
3 See press release dated September 29, 2016 for further details.
4 See press releasedated January 26, 2017 for further details
5 See HPQ pressrelease dated January 26, 2017.

Management continues to believe that the PUREVAP™ technology will have a significant impact on the solar industry. We note that there seems to be  significant  commercial applications for  the System, at lower purity levels, as well (i.e. above 99.9%).

“We are very satisfied with the project to date” said P. Peter Pascali, President and CEO of PyroGenesis. “This latest payment confirms HPQ’s full commitment to this project. The project, once in full production, will generate a recurring revenue stream to PyroGenesis in the form of a 10% royalty on all future silicon metal sales made by HPQ, using the PUREVAP™ technology"

Separately, the Company announces today that it has mutually agreed to terminate  its  previously announced investor relations agreement with FronTier Merchant Capital Group6.

 

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. 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 ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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

6 See press release dated October 28, 2016 for further details.

at www.sedar.com, or at www.otcmarkets.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, its Regulation Services Provider (as that term is defined in    the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

 For further information: P. Peter Pascali, Chief Executive Officer, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com