PyroGenesis Announces Factory Acceptance Test for Plasma Torches Scheduled with Client A, a Multi-Billion-Dollar International Producer of Iron Ore Pellets
27 Januar 2022 - 9:12PM
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 (GHGs), is pleased
to announce today that, further to its Q3 2021 financial
results press release, a factory acceptance test (“FAT”) for the
use of its plasma torches in iron or pelletization has now been
scheduled to be completed with Client A. This FAT is scheduled to
be conducted between Feb 2nd and Feb 14th, 2022.
As previously disclosed, Client A is a
multi-billion-dollar international producer of iron ore pellets,
one of the largest in the industry, whose name will remain
confidential for competitive reasons. The Client, which has
committed to reduce its GHG emissions, has over ten (10) plants,
each possibly requiring up to 50 plasma torches. PyroGenesis has
the only patented process in the iron ore pelletization industry
designed to replace “dirty” fossil fuel burners with
environmentally friendly plasma torches, thereby greatly reducing
emissions.
“We are pleased to announce today that we are
now entering the acceptance test phase with Client A; a client with
a need for up to 500 torches,” said Mr. P. Peter Pascali, CEO and
Chair of PyroGenesis. “Once we have completed the testing, we will
not only announce the outcome, but we expect to have sufficient
data to provide further visibility on the expected timeline moving
forward.”
PyroGenesis’ plasma torches greatly reduce
emissions by replacing “dirty” fossil fuel burners with clean
plasma torches. PyroGenesis estimates that worldwide pellet
production of 400MMT1 consumes between 8000-12000 MW of energy
annually. The company estimates that the potential addressable
market is over $10B2, assuming a one-to-one replacement of fossil
fuel burners with an estimated ten thousand 1MW plasma torches,
based on an assumed cost per plasma torch of approximately
$1.5M.
“Completing the FAT will be a significant
milestone in our ultimate goal of providing PyroGenesis’ plasma
torches to iron ore pelletizers worldwide, in their quest to reduce
GHGs”, added Mr. Pascali. “We are proud that, despite the
challenges facing companies these days (supply chain issues, labor
constraints, and general covid related issues), both teams that are
working on this project, ours and our Client’s, have managed to
keep the project on track and meeting all requirements to date.
This progress speaks volumes with respect to our expertise in
understanding the unique requirements of multi-billion-dollar
clients, and the dedication we have to ensure ultimate success. I
look forward to personally participating in the factory acceptance
test. I believe this will prove to be a truly momentous occasion
for the Company, and one which could potentially be a tipping point
for PyroGenesis, as we position ourselves to be the go-to provider
of plasma based GHG solutions.”
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 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.sec.gov. 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 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 Investors
Relations and Strategic Business DevelopmentPhone: (514) 937-0002,
E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com/
______________________________1 M. Huerta, J. Bolen, M. Okrutny,
I. Cameron and K. O’Leary, “Guidelines for Selecting Pellet Plant
Technology”, Iron Ore Conference 2015 Proceedings, Perth, WA, July
13-15, 20152 Based on PyroGenesis’ Internal Calculations
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