PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred
to as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions to reduce greenhouse gases (GHG) and address
environmental pollutants, is pleased to announce today that it has
been selected to provide a $9.2MM land-based system to destroy
Perfluoroalkyl and Polyfluoroalkyl Substances (“PFAS”) . The Client
is a large operator of public water systems, whose name will remain
confidential for competitive reasons.
PyroGenesis was recently informed that, after a
competitive bidding process, it had been selected to provide its
plasma based thermal process equipment in a two-phase project
geared to providing a land-based system to destroy PFAS. The first
phase is to provide pilot testing. The second phase is geared to a
full fabrication, furbishing and commissioning of a fully
commercial land-based system. The time to completion is, from the
signing of the contract, approximately 6 months for the pilot
system with the timeframe for the full system to be determined
based on Phase 1. Work will not begin until a definitive agreement
is signed by both parties. PyroGenesis is currently pursuing two
additional opportunities within the same State in the USA.
PFAS are man-made chemicals that have been
widely used in consumer products in various industries, such as
aerospace, automotive, construction, amongst others, for many
decades. Products that may contain PFAS include nonstick cookware,
stain resistant coatings used on carpets, upholstery, and other
fabrics, water resistant clothing, cleaning products, personal care
and cosmetics products and any other product that resist grease,
water and oil1. Because of their widespread use and strong
chemical bonds and properties, which account for their persistence
in the environment, PFAS are proving to be persistent pollutants
that affect humans and wildlife, as they are likely to be exposed
to these chemicals by consuming contaminated water or food, using
products made with PFAS, or breathing air containing PFAS.
It has been documented that PFAS are
synthetic chemical compounds that are increasingly being considered
as an emerging contaminant. The term “emerging
contaminant” isn’t defined in
regulations but generally refers to pollutants for which
there are concerns regarding public health
effects and are either not regulated or only recently
starting to be regulated. Considered harmful “forever
chemicals”, these substances have been in the proverbial hot
seat of regulators around the world.3 These substances are
increasingly becoming a health concern worldwide as they were only
recently designated emergent/hazardous substances. Studies have
shown that PFAS exposure may interfere with the body’s natural
hormones; increase cholesterol levels; affect the immune system;
and increase the risk of cancer4. In fact, a report from the
Centers for Disease Control and Prevention's National Health and
Nutrition Examination Survey (NHANES) has indicated that PFAS are
found in the blood of 97% of Americans5.
“PFAS are obviously a waste stream that has to
be addressed, and in short order. As such, we are extremely proud
to have been selected, in a highly competitive bidding process, to
provide our proprietary plasma-based environmental solution to this
significant problem facing the world,” said Mr. P. Peter Pascali,
CEO and Chair of PyroGenesis. “The significance of this
announcement goes far beyond the announcement itself as it
represents our first commercial land-based system sold outside of
the military and has opened up a significant opportunity for our
land-based offerings within this segment. Outside the needs of our
current Client there are many companies facing the same challenge
and we fully expect to be providing similar solutions to these
entities as well.”
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/
A photo accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfc85c9c-0c99-4dc2-b1ad-e1cc19177242
1
https://www.atsdr.cdc.gov/pfas/health-effects/exposure.html
2 Trends in the Regulation of Per- and Polyfluoroalkyl
Substances (PFAS): A Scoping Review; Academic Editor: Paul B.
Tchounwou; Int. J. Environ. Res. Public
Health 2021, 18(20), 10900; Originally published by
the Government Accountability Office in report GAO-21-37: ‘Man-Made
Chemicals and Potential Health Risks, EPA Has Completed Some
Regulatory-Related Actions for PFAS’.
3
https://www.enhesa.com/resources/article/emerging-contaminants-trends-in-pfas-regulation/
4 https://www.atsdr.cdc.gov/pfas/activities/index.html
5 Lewis RC, Johns LE, Meeker JD. 2015. Serum Biomarkers of
Exposure to Perfluoroalkyl Substances in Relation to Serum
Testosterone and Measures of Thyroid Function among Adults and
Adolescents from NHANES 2011–2012. Int J Environ Res Public Health.
12(6):
6098–6114https://www.niehs.nih.gov/health/topics/agents/pfc/index.cfm#footnote1
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