PyroGenesis Secures $1.15 MM Phase 2 Contract Award from Innovative Solutions Canada to Develop a Hybrid Ceramic Powder Processing System
19 Oktober 2021 - 8:00PM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (NASDAQ: PYR)
(TSX: PYR) (FRA: 8PY), a high-tech Company (hereinafter referred to
as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions to reduce greenhouse gases, is pleased to
announce that it has been awarded an Innovative Solutions Canada
(ISC) Phase 2 (Prototype Development) contract of approximately $
1.15 MM to develop a unique hybrid ceramic powder (HCP) processing
system for the National Research Council Canada,
Canada's largest federal research and development
organization.
Carbon nanotubes hold significant potential for
mechanical reinforcement in composite materials, including ceramic
composites. However, the bundling of the carbon nanotubes has
prevented this potential from being realized. PyroGenesis’ system
utilizes a thermal plasma process to simultaneously synthesize
carbon nanotubes and deposit them on a ceramic powder within a
single plasma reactor. PyroGenesis is in the process of building an
integrated and automated system to produce high quality ceramic
powder products in a safe, economical, and highly scalable manner.
PyroGenesis would first optimize the process, then finalize the
design and manufacturing of the system. The Phase 2 project follows
a successful Phase 1 proof of concept.
“The main competitive advantage of our solution
is the ability to process ceramic powder in the same reactor as the
carbon nanotube synthesis, allowing for production in a single
step,” said Mr. Pierre Carabin, CTO and Chief Strategist of
PyroGenesis. “We believe this process will prove far more efficient
and scalable than conventional technologies such as the Chemical
Vapor Deposition (CVD) process. Additionally, we believe that our
technology is capable of processing a variety of composite
materials, which could lead to the development of new IP and
product lines for other specialty powder production
technologies.”
“This Phase 2 award reflects our commitment to
developing innovative technology solutions,” said Mr. P. Peter
Pascali, CEO and Chair of PyroGenesis. “The success of this
innovative process would allow us to further expand our
capabilities in carbon nanotube and specialty powder production. In
addition to its commercial potential, this process provides
numerous environmental benefits. For instance, the main source of
energy to drive the plasma torch will be renewable hydroelectric
power. We are extremely proud to have been chosen by
the Government of Canada for this award, and believe our selection
aligns with the goals of this program by supporting technological
innovation and fostering economic development.”
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a leader in the design, development, manufacture and
commercialization of advanced plasma processes and sustainable
solutions which reduce greenhouse gases (GHG), and are economically
attractive alternatives to conventional “dirty” processes.
PyroGenesis has created proprietary, patented and advanced plasma
technologies that are being vetted and adopted by multiple
multibillion dollar industry leaders in four massive markets: iron
ore pelletization, aluminum, waste management, and additive
manufacturing. With a team of experienced engineers, scientists and
technicians working out of its Montreal office, and its 3,800 m2
and 2,940 m2 manufacturing facilities, PyroGenesis maintains its
competitive advantage by remaining at the forefront of technology
development and commercialization. The operations are ISO
9001:2015 and AS9100D certified, having been ISO certified since
1997. For more information, please visit: www.pyrogenesis.com.
This press release contains certain
forward-looking statements, including, without limitation,
statements containing the words "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect", "in the process" and
other similar expressions which constitute "forward- looking
information" within the meaning of applicable securities laws.
Forward-looking statements reflect the Corporation's current
expectation and assumptions and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially from those anticipated. These forward-looking statements
involve risks and uncertainties including, but not limited to, our
expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to
research and development, the impact of competitive products and
pricing, new product development, and uncertainties related to the
regulatory approval process. Such statements reflect the current
views of the Corporation with respect to future events and are
subject to certain risks and uncertainties and other risks detailed
from time-to-time in the Corporation's ongoing filings with the
securities regulatory authorities, which filings can be found at
www.sedar.com, or at www.sec.gov. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Corporation undertakes no obligation to publicly update or revise
any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Neither the Toronto Stock Exchange, its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) nor the NASDAQ Stock
Market, LLC accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BDPhone: (514)
937-0002, E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com/
PyroGenesis Canada (TSX:PYR)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
PyroGenesis Canada (TSX:PYR)
Historical Stock Chart
Von Apr 2023 bis Apr 2024