PYROGENESIS CANADA INC.

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PYROGENESIS CANADA INC.

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PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced… …

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Charles Travis Manning posted an update in the group PYROGENESIS CANADA INC.

Hello, this appears to be a very interesting news release, but very technical. I may not be the youngest member of your group but I'm a very interested and enthusiastic shareholder. I wonder if Mr. Carabin or Ms. Kafal might be able to elaborate for me and possibly other members in this PyroGenesis group what significance this is to the company and its shareholders. Thank you. CM



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8020Admin started the topic PYR News Alert: Submits Gen 2 PUREVAP(TM) Progress Report to HPQ Silicon Resources Inc in group PYROGENESIS CANADA INC.

PyroGenesis Submits Gen 2 PUREVAP(TM) Progress Report to HPQ Silicon Resources Inc.; Confirms Higher Yield and Rate

MONTREAL, Jan. 15, 2018 (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 “Project Progress on GEN 2 PUREVAP”.

This report gives a summary of the first five (5) tests on the Gen 2 PUREVAP tests.  The main results of these initial tests are:

  • The Gen 2 PUREVAP can operate semi-continuously as designed and under vacuum. To our knowledge, this is the first time that this has ever been achieved.
  • The Gen 2 PUREVAP provides a higher production yield and rate (5.7 times more yield and 23 times more product).
  • The heat efficiency of the GEN2 is much better than GEN1. GEN2 achieves higher temperatures (i.e. more heat goes towards the process rather than being lost to various system components) and which allows for higher rate silicon production reactions and higher product purity.

“These initial Gen 2 results confirm the hypothesis we formulated when we initially designed this new reactor for higher yield and better performance.  The results also provide confirmation of our design parameters for the upcoming pilot phase of the project,” said Pierre Carabin, CTO of PyroGenesis.  “The next step will be to continue increasing the amount of material produced with the goal of being able to extract liquid metal directly from the reactor in operation.”

PyroGenesis has been engaged by HPQ to demonstrate, on a laboratory scale, that the PUREVAP™ process can produce high purity silicon metal from quartz in a one step process. Pursuant to a Can$8.3 MM contract signed with HPQ in August 2016, PyroGenesis is designing, fabricating, assembling, commissioning and testing a PUREVAP™ pilot system to produce silicon metal directly from quartz. The aim of the Gen 2 PUREVAP™ metallurgical testing program is to confirm previous findings, and to allow for downstream product testing as final steps are being put in place to assemble the Pilot Plant.

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.

SOURCE PyroGenesis Canada Inc.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: [email protected] or [email protected]

 

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8020Admin started the topic PYR News Alert: Announces that HPQ Silicon Signs Development Agreement in group PYROGENESIS CANADA INC.

PyroGenesis Announces that HPQ Silicon Signs Development Agreement with Solar Silicon Specialist Apollon Solar

MONTREAL, Dec. 21, 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 HPQ Silicon Resources Inc., (“HPQ” or the “Client”) signed a development agreement with Apollon Solar, a solar silicon specialist.

As previously disclosed, PyroGenesis has been engaged by HPQ to demonstrate, on a laboratory scale, that the PUREVAP™ process can produce high purity silicon metal from quartz in a one step process. Pursuant to a Can$8.3 MM contract signed with HPQ in August 2016, PyroGenesis is designing, fabricating, assembling, commissioning and testing a PUREVAP™ pilot system to produce silicon metal directly from quartz.

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

Q: HPQ Silicon announced Monday1 their agreement with Apollon Solar (“Apollon”), a solar silicon specialist. What does this mean for PyroGenesis specifically and the project in general?

A: This move, to bring Apollon into the HPQ-PyroGenesis fold, is in one word: ingenious. Not only does it demonstrate the validity and merit of our project, but the development agreement, in our opinion, not only increases the probability of success, but decreases the time frame in which success may be obtained.

Q: How is that?

A: To answer your question one must first understand who Apollon is and what they have achieved to date.

First, Apollon is a private French company which, as one of the world’s leaders in renewable energies, has developed processes to make high purity silicon metal for photovoltaic conversion for use in high performance solar cells… 

Q:  So, they are competitors to PyroGenesis?

A: Absolutely not!  They complement us and that is the genius of this partnership.

Apollon is an expert in the manufacture of silicon wafers for use in solar panels. Apollon’s unique knowledge and experience with silicon, silicon wafers, and solar panels has enabled it to understand what works and what doesn’t, and they have been extremely successful at this.  In fact, Apollon was the first to manufacture entirely monocrystalline Czochralski (“Cz”) ingots made with 100% solar grade silicon metal refined metallurgically (“SoG Si UMG”).  Which in layman’s terms translates simply to the fact that they were one of the first to manufacture silicon wafers using an upgraded metallurgical grade (“UMG”) silicon metal as feedstock.  In addition to this achievement, Apollon has also managed to obtain conversion efficiencies of over 20% in solar panels using these same wafers.  In fact, Apollon holds a world record conversion efficiency of 21.1% with wafers made from UMG silicon metal used as feedstock.

So, in short, Apollon has managed to use UMG silicon metal as feedstock, manufacture silicon wafers, introduce them into solar panels, and get world record conversion rates.

Q:  And….?

A: And we can supply Apollon with the required feedstock, and therein lies the beauty of this arrangement.  Apollon has proven that UMG silicon metal can be used as feedstock to make silicon wafers for solar panels. Our results to date show that PUREVAP™, at a bench test scale, could convert quartz into the UMG silicon metal which can be used as feedstock to manufacture Apollon’s wafers for solar panels.

Q:  What else can you say about Apollon and the team?

A:  It is important to realize, that in all this, Apollon is actually the first independent party to validate the innovation potential of the PUREVAP™ process.  When reviewing the PUREVAP™ process, Apollon concluded that:

  • PUREVAP™ is a new metallurgical process (patent pending held by HPQ) for the production of solar grade silicon metal, and that it is a unique process, based on the innovative plasma technology that is at the heart of PyroGenesis’ expertise, and
  • The successful commercial application of the PUREVAP™ process will lead to the production of solar quality silicon at significantly lower costs compared to those of competing process technologies (examples include Siemens chemical process, Elkem Solar, Silicor Materials, etc.)

Without a doubt, future collaboration between HPQ, Apollon and PyroGenesis should increase the probability of success of the project. In this sense, Apollon brings two important elements to the team:

  • Firstly, the ability to achieve a higher level of vertical integration (from the extraction of raw quartz (SiO2) by HPQ all the way to the production of solar cells), and
  • Secondly, many years of innovative research and development work in the field of solar silicon and solar panels which complements the work already underway.

Q: From a practical perspective, how do you expect these benefits will be integrated into the project?

A: In the short term, we expect Apollon to provide immediate input into, and to help accelerate, the development phase of GEN-2 as well as to de-risk the design and testing of the pilot phase of the project (GEN-3).  In the longer term, Apollon’s knowledge and expertise in solar panels will not only lend itself well to the integration of silicon produced by the PUREVAP™ technology into solar panels, but could eventually lead to HPQ becoming a vertically integrated producer of such solar panels.

Q: Conclusion?

A: Once again, we are impressed with the strategies and forward thinking of the HPQ team. They have done their research and positioned themselves to be a significant force within their space. We are happy to be engaged in this project.

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.

SOURCE PyroGenesis Canada Inc.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: [email protected] or [email protected]

__________

1 http://www.marketwired.com/press-release/renewable-energies-hpq-silicon-announces-international-development-agreement-with-solar-tsx-venture-hpq-2243450.htm

 

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8020Admin started the topic PYR News Alert: Announces Receipt of New Military Contract in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

 

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8020Admin started the topic PYR NEWS Alert: Signs Non-Disclosure Agreement in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected] 



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8020Admin started the topic News Alert: Announces Q3-2017 Results: Cash Flow Positive on EBITDA (Modified) Basis; Revenues Increase by 7%; Positive Gross Margin of 57%; Current Backlog $7.41MM in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

 

 

 

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8020Admin started the topic News Alert: Announces Receipt of $508,000 Down Payment on Previously Announced Sale of Second DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

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

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Media Relations started the topic PYR News Alert: Announces $1.02 Million Sale of 2nd DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

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

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8020Admin started the topic PYR News Alert: Additive to Reveal Completion of Powder Performance Characterization Results by Independent Parties at FormNext in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

 

News Provided by GlobeNewswire via QuoteMedia



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8020Admin started the topic PYR News Alert: Signs Non-Disclosure Agreement with a Global Engine Manufacturer in group PYROGENESIS CANADA INC.

 

 

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: [email protected] or [email protected]



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Media Relations started the topic PYR: News Alert: PyroGenesis Submits Final Gen 1 PUREVAP(TM) Report in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

_________________________

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

 



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Media Relations started the topic $PYR News Alert: PyroGenesis Announces Grant of Two (2) US Patents for a Total of 54 Patents owned in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected] 



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8020Admin started the topic $PYR: News Alert: PyroGenesis Announces Completion of Ramp-Up Phase of 1st Plasma Atomization System in group PYROGENESIS CANADA INC.

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
[email protected] or [email protected]



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Darren Stewart posted an update in the group PYROGENESIS CANADA INC.

I want to bring your attention to a new tool we added in September, the "New User" invite tool. It's very simple, just add the email of a person you think would be an interested investor or could add value to the corporation. Click on the "SEND INVITES" button above to find the New User tool. (The image below should help). As shareholders, we now have the ability to be more than passive investors, we can be active owners helping our investments succeed. Darren Stewart, CEO and founder of 8020 Connect.



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Media Relations started the topic PYR News Alert: PyroGenesis Canada Inc. to Present at The MicroCap Conference in group PYROGENESIS CANADA INC.

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 [email protected]

SOURCE: PyroGenesis Canada Inc.



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8020 Admin4 months
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8020Admin started the topic PYR News Alert: PyroGenesis Comments on Stock Trading Activity in group 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

[email protected] or [email protected]



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Darren Stewart started the topic $PYR: News Alert : Commencement of Advanced Second Phase Lab Scale Testing with HPQ Silicon Resources Inc., in group PYROGENESIS CANADA INC.

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
[email protected]
[email protected]

 



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Terry Harris4 months
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Terry Harris posted an update in the group PYROGENESIS CANADA INC.

Re: the announcement of the ability to produce and the sample orders for the high grade powders. If orders for significant amounts of these products are received how long would it take to ramp up to a sufficient production capacity to fulfill these orders in a timely manner? Would addition production facilities/equipment need of be obtained?



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8020 Admin4 months
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8020Admin started the topic $PYR News Alert: PYR Additive Confirms Production, and Orders, for Both Ti-6Al-4V Grade 23 & Grade 5 MIM Cut in group PYROGENESIS CANADA INC.

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
[email protected] or [email protected]

 



8020 media relationsDisclaimer

Media Relations posted an update in the group PYROGENESIS CANADA INC.

$PYR: Investors looking for an opportunity in the #3dprinting space, check out PYR. The last few months have been tough on the stock price, but the company continues to put out positive news. When looking at the last year PYR has outperformed the S&P TSX by 185.88%. PYR has been a fantastic story and investment opportunity for those investors in 8020 that invested when PYR first joined the community in April 2017. Join Pyrogenesis's investor group and get to know management and their corporate goals before investing.



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jonathan_barrett9 posted an update in the group PYROGENESIS CANADA INC.

Seems like they're still working out the quirks and at the same time benefitting through trial and error..ie: finding new processes….repeat information is only testing my patience!



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Darren Stewart started the topic PYR News Alert: PyroGenesis Additive Announces Significant Developments to its New Plasma-Based Atomization Process in group PYROGENESIS CANADA INC.

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

[email protected] or [email protected]



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Media Relations posted an update in the group PYROGENESIS CANADA INC.

PyroGenesis CEO, P. Peter Pascali, & VP, IR, Rodayna Kafal, will be presenting at the Rodman & Renshaw Conference on September 10th-12th at the Lotte New York Palace Hotel in New York City.



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8020Admin started the topic PYR News Alert: PyroGenesis Announces Q2-2017 Results in group PYROGENESIS CANADA INC.

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

[email protected]

[email protected]



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Charles Travis Manning posted an update in the group PYROGENESIS CANADA INC.

Hello, this appears to be a very interesting news release, but very technical. I may not be the youngest member of your group but I'm a very interested and enthusiastic shareholder. I wonder if Mr. Carabin or Ms. Kafal might be able to elaborate for me and possibly other members in this PyroGenesis group what significance this is to the company and its shareholders. Thank you. CM



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8020Admin started the topic PYR News Alert: Submits Gen 2 PUREVAP(TM) Progress Report to HPQ Silicon Resources Inc in group PYROGENESIS CANADA INC.

PyroGenesis Submits Gen 2 PUREVAP(TM) Progress Report to HPQ Silicon Resources Inc.; Confirms Higher Yield and Rate

MONTREAL, Jan. 15, 2018 (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 “Project Progress on GEN 2 PUREVAP”.

This report gives a summary of the first five (5) tests on the Gen 2 PUREVAP tests.  The main results of these initial tests are:

  • The Gen 2 PUREVAP can operate semi-continuously as designed and under vacuum. To our knowledge, this is the first time that this has ever been achieved.
  • The Gen 2 PUREVAP provides a higher production yield and rate (5.7 times more yield and 23 times more product).
  • The heat efficiency of the GEN2 is much better than GEN1. GEN2 achieves higher temperatures (i.e. more heat goes towards the process rather than being lost to various system components) and which allows for higher rate silicon production reactions and higher product purity.

“These initial Gen 2 results confirm the hypothesis we formulated when we initially designed this new reactor for higher yield and better performance.  The results also provide confirmation of our design parameters for the upcoming pilot phase of the project,” said Pierre Carabin, CTO of PyroGenesis.  “The next step will be to continue increasing the amount of material produced with the goal of being able to extract liquid metal directly from the reactor in operation.”

PyroGenesis has been engaged by HPQ to demonstrate, on a laboratory scale, that the PUREVAP™ process can produce high purity silicon metal from quartz in a one step process. Pursuant to a Can$8.3 MM contract signed with HPQ in August 2016, PyroGenesis is designing, fabricating, assembling, commissioning and testing a PUREVAP™ pilot system to produce silicon metal directly from quartz. The aim of the Gen 2 PUREVAP™ metallurgical testing program is to confirm previous findings, and to allow for downstream product testing as final steps are being put in place to assemble the Pilot Plant.

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.

SOURCE PyroGenesis Canada Inc.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: [email protected] or [email protected]

 

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8020Admin started the topic PYR News Alert: Announces that HPQ Silicon Signs Development Agreement in group PYROGENESIS CANADA INC.

PyroGenesis Announces that HPQ Silicon Signs Development Agreement with Solar Silicon Specialist Apollon Solar

MONTREAL, Dec. 21, 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 HPQ Silicon Resources Inc., (“HPQ” or the “Client”) signed a development agreement with Apollon Solar, a solar silicon specialist.

As previously disclosed, PyroGenesis has been engaged by HPQ to demonstrate, on a laboratory scale, that the PUREVAP™ process can produce high purity silicon metal from quartz in a one step process. Pursuant to a Can$8.3 MM contract signed with HPQ in August 2016, PyroGenesis is designing, fabricating, assembling, commissioning and testing a PUREVAP™ pilot system to produce silicon metal directly from quartz.

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

Q: HPQ Silicon announced Monday1 their agreement with Apollon Solar (“Apollon”), a solar silicon specialist. What does this mean for PyroGenesis specifically and the project in general?

A: This move, to bring Apollon into the HPQ-PyroGenesis fold, is in one word: ingenious. Not only does it demonstrate the validity and merit of our project, but the development agreement, in our opinion, not only increases the probability of success, but decreases the time frame in which success may be obtained.

Q: How is that?

A: To answer your question one must first understand who Apollon is and what they have achieved to date.

First, Apollon is a private French company which, as one of the world’s leaders in renewable energies, has developed processes to make high purity silicon metal for photovoltaic conversion for use in high performance solar cells… 

Q:  So, they are competitors to PyroGenesis?

A: Absolutely not!  They complement us and that is the genius of this partnership.

Apollon is an expert in the manufacture of silicon wafers for use in solar panels. Apollon’s unique knowledge and experience with silicon, silicon wafers, and solar panels has enabled it to understand what works and what doesn’t, and they have been extremely successful at this.  In fact, Apollon was the first to manufacture entirely monocrystalline Czochralski (“Cz”) ingots made with 100% solar grade silicon metal refined metallurgically (“SoG Si UMG”).  Which in layman’s terms translates simply to the fact that they were one of the first to manufacture silicon wafers using an upgraded metallurgical grade (“UMG”) silicon metal as feedstock.  In addition to this achievement, Apollon has also managed to obtain conversion efficiencies of over 20% in solar panels using these same wafers.  In fact, Apollon holds a world record conversion efficiency of 21.1% with wafers made from UMG silicon metal used as feedstock.

So, in short, Apollon has managed to use UMG silicon metal as feedstock, manufacture silicon wafers, introduce them into solar panels, and get world record conversion rates.

Q:  And….?

A: And we can supply Apollon with the required feedstock, and therein lies the beauty of this arrangement.  Apollon has proven that UMG silicon metal can be used as feedstock to make silicon wafers for solar panels. Our results to date show that PUREVAP™, at a bench test scale, could convert quartz into the UMG silicon metal which can be used as feedstock to manufacture Apollon’s wafers for solar panels.

Q:  What else can you say about Apollon and the team?

A:  It is important to realize, that in all this, Apollon is actually the first independent party to validate the innovation potential of the PUREVAP™ process.  When reviewing the PUREVAP™ process, Apollon concluded that:

  • PUREVAP™ is a new metallurgical process (patent pending held by HPQ) for the production of solar grade silicon metal, and that it is a unique process, based on the innovative plasma technology that is at the heart of PyroGenesis’ expertise, and
  • The successful commercial application of the PUREVAP™ process will lead to the production of solar quality silicon at significantly lower costs compared to those of competing process technologies (examples include Siemens chemical process, Elkem Solar, Silicor Materials, etc.)

Without a doubt, future collaboration between HPQ, Apollon and PyroGenesis should increase the probability of success of the project. In this sense, Apollon brings two important elements to the team:

  • Firstly, the ability to achieve a higher level of vertical integration (from the extraction of raw quartz (SiO2) by HPQ all the way to the production of solar cells), and
  • Secondly, many years of innovative research and development work in the field of solar silicon and solar panels which complements the work already underway.

Q: From a practical perspective, how do you expect these benefits will be integrated into the project?

A: In the short term, we expect Apollon to provide immediate input into, and to help accelerate, the development phase of GEN-2 as well as to de-risk the design and testing of the pilot phase of the project (GEN-3).  In the longer term, Apollon’s knowledge and expertise in solar panels will not only lend itself well to the integration of silicon produced by the PUREVAP™ technology into solar panels, but could eventually lead to HPQ becoming a vertically integrated producer of such solar panels.

Q: Conclusion?

A: Once again, we are impressed with the strategies and forward thinking of the HPQ team. They have done their research and positioned themselves to be a significant force within their space. We are happy to be engaged in this project.

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.

SOURCE PyroGenesis Canada Inc.

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: [email protected] or [email protected]

__________

1 http://www.marketwired.com/press-release/renewable-energies-hpq-silicon-announces-international-development-agreement-with-solar-tsx-venture-hpq-2243450.htm

 

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8020Admin started the topic PYR News Alert: Announces Receipt of New Military Contract in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

 

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8020Admin started the topic PYR NEWS Alert: Signs Non-Disclosure Agreement in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected] 



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8020Admin started the topic News Alert: Announces Q3-2017 Results: Cash Flow Positive on EBITDA (Modified) Basis; Revenues Increase by 7%; Positive Gross Margin of 57%; Current Backlog $7.41MM in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

 

 

 

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8020Admin started the topic News Alert: Announces Receipt of $508,000 Down Payment on Previously Announced Sale of Second DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

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

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Media Relations started the topic PYR News Alert: Announces $1.02 Million Sale of 2nd DROSRITE(TM) Furnace System to North American Automobile Parts Manufacturer in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

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

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8020Admin started the topic PYR News Alert: Additive to Reveal Completion of Powder Performance Characterization Results by Independent Parties at FormNext in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

 

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8020Admin started the topic PYR News Alert: Signs Non-Disclosure Agreement with a Global Engine Manufacturer in group PYROGENESIS CANADA INC.

 

 

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: [email protected] or [email protected]



John Moss3 months

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Media Relations started the topic PYR: News Alert: PyroGenesis Submits Final Gen 1 PUREVAP(TM) Report in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected]

_________________________

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

 



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Media Relations started the topic $PYR News Alert: PyroGenesis Announces Grant of Two (2) US Patents for a Total of 54 Patents owned in group PYROGENESIS CANADA INC.

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: [email protected] or [email protected] 



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8020Admin started the topic $PYR: News Alert: PyroGenesis Announces Completion of Ramp-Up Phase of 1st Plasma Atomization System in group PYROGENESIS CANADA INC.

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
[email protected] or [email protected]



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Darren Stewart posted an update in the group PYROGENESIS CANADA INC.

I want to bring your attention to a new tool we added in September, the "New User" invite tool. It's very simple, just add the email of a person you think would be an interested investor or could add value to the corporation. Click on the "SEND INVITES" button above to find the New User tool. (The image below should help). As shareholders, we now have the ability to be more than passive investors, we can be active owners helping our investments succeed. Darren Stewart, CEO and founder of 8020 Connect.



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Media Relations started the topic PYR News Alert: PyroGenesis Canada Inc. to Present at The MicroCap Conference in group PYROGENESIS CANADA INC.

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 [email protected]

SOURCE: PyroGenesis Canada Inc.



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8020Admin started the topic PYR News Alert: PyroGenesis Comments on Stock Trading Activity in group 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

[email protected] or [email protected]



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Darren Stewart started the topic $PYR: News Alert : Commencement of Advanced Second Phase Lab Scale Testing with HPQ Silicon Resources Inc., in group PYROGENESIS CANADA INC.

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
[email protected]
[email protected]

 



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Terry Harris posted an update in the group PYROGENESIS CANADA INC.

Re: the announcement of the ability to produce and the sample orders for the high grade powders. If orders for significant amounts of these products are received how long would it take to ramp up to a sufficient production capacity to fulfill these orders in a timely manner? Would addition production facilities/equipment need of be obtained?



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8020Admin started the topic $PYR News Alert: PYR Additive Confirms Production, and Orders, for Both Ti-6Al-4V Grade 23 & Grade 5 MIM Cut in group PYROGENESIS CANADA INC.

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
[email protected] or [email protected]

 



8020 media relationsDisclaimer

Media Relations posted an update in the group PYROGENESIS CANADA INC.

$PYR: Investors looking for an opportunity in the #3dprinting space, check out PYR. The last few months have been tough on the stock price, but the company continues to put out positive news. When looking at the last year PYR has outperformed the S&P TSX by 185.88%. PYR has been a fantastic story and investment opportunity for those investors in 8020 that invested when PYR first joined the community in April 2017. Join Pyrogenesis's investor group and get to know management and their corporate goals before investing.



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jonathan_barrett9 posted an update in the group PYROGENESIS CANADA INC.

Seems like they're still working out the quirks and at the same time benefitting through trial and error..ie: finding new processes….repeat information is only testing my patience!



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Darren Stewart started the topic PYR News Alert: PyroGenesis Additive Announces Significant Developments to its New Plasma-Based Atomization Process in group PYROGENESIS CANADA INC.

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

[email protected] or [email protected]



8020 media relationsDisclaimer

Media Relations posted an update in the group PYROGENESIS CANADA INC.

PyroGenesis CEO, P. Peter Pascali, & VP, IR, Rodayna Kafal, will be presenting at the Rodman & Renshaw Conference on September 10th-12th at the Lotte New York Palace Hotel in New York City.



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8020 Admin5 months
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8020Admin started the topic PYR News Alert: PyroGenesis Announces Q2-2017 Results in group PYROGENESIS CANADA INC.

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

[email protected]

[email protected]