PyroGenesis Announces Successful Completion of its Torch Factory Acceptance Test with Client A; a Multi-Billion-Dollar International Producer of Iron Ore Pellets
08 Februar 2022 - 9:20PM
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 press release
dated January 27, 2022, it has completed the factory acceptance
test (“FAT”) of its 1-MW plasma torch, for the iron ore
pelletization industry, with Client A (the “Client”). This
successful FAT was conducted at PyroGenesis’ manufacturing facility
in Montreal in the presence of the Client.
With the FAT process now successfully completed,
and officially approved by Client A, the plasma torch system will
now be shipped to the Client’s facility before the end of Q1 2022.
PyroGenesis expects the plasma torch to arrive, on or about, the
end of Q2 2022. The torch will then be installed in Client A’s
induration furnace, replacing the dirty fossil fuel burner
currently in place. The installation should take approximately 3 to
4 weeks, after which a Site Acceptance Test (SAT) will be
performed. The SAT is scheduled to be completed before the end of
July 2022. Both the installation and the SAT will be conducted by
Client A, and supervised by PyroGenesis personnel. Between the
arrival of PyroGenesis’ proprietary 1 MW plasma torch at the
Client’s site and the SAT, there will be a number of tasks that
will need to be completed (such as the training of local personnel
by PyroGenesis staff).
“The long-awaited FAT has finally been
completed, and we are proud to announce today that we have
successfully passed this important milestone. The torch will now be
shipped to the client’s facility where it will be installed, and
where the SAT is scheduled to be performed before the end of July
2022. This important milestone brings us that much closer to our
ultimate goal of providing clean plasma torches to the iron ore
pelletization industry in their quest to replace dirty fossil fuel
burners,” said P. Peter Pascali, CEO and Chair of PyroGenesis.
“Successful completion of this FAT marks a significant milestone,
not only for PyroGenesis and its clients, but also for all those
involved in high temperature applications, specifically in the
steel industry where we seem to be making our mark. We expect the
next 6 months to be extremely exciting for everyone involved as all
parties finally see that the goal line is in sight.”
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.comRELATED LINK:
http://www.pyrogenesis.com/
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