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PyroGenesis $PYR.ca Signs Non-Disclosure Agreement with Second Global Aircraft Engine Manufacturer $DDD $SSYS $ PRLB

Posted by AGORACOM-JC at 8:43 AM on Monday, December 4th, 2017

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  • Signed a non-disclosure agreement with a second global aircraft engine manufacturer.
  • 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.

MONTREAL, Quebec, Dec. 04, 2017 — 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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

 

Source: GlobeNewswire (December 4, 2017 – 8:35 AM EST)

PyroGenesis $PYR.ca Announces Q3-2017 Results: Cash Flow Positive on EBITDA (Modified) Basis; Revenues Increase by 7%; Positive Gross Margin of 57%; Current Backlog $7.41MM $HPQ.ca $DDD $SSYS $PRLB

Posted by AGORACOM-JC at 5:22 PM on Tuesday, November 28th, 2017

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  • Nine month revenues increased 58% to $5.90MM over same period in 2016;
  • Revenues for Q3 2017 increased 7% to $2.03MM over 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.

MONTREAL, Nov. 28, 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, 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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis $PYR.ca Announces Receipt of $508,000 Down Payment on Previously Announced Sale of Second DROSRITE™ Furnace System to North American Automobile Parts Manufacturer $DDD $SSYS $ PRLB

Posted by AGORACOM-JC at 8:53 AM on Monday, November 27th, 2017

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  • Further to its press release of November 16, 2017 announced 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 to a North American automobile parts manufacturer

MONTREAL, Nov. 27, 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, 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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis $PYR.ca Announces $1.02 Million Sale of 2nd DROSRITE™ Furnace System to North American Automobile Parts Manufacturer $TSLA $DDD $SSYS $PRLB

Posted by AGORACOM-JC at 8:42 AM on Thursday, November 16th, 2017

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  • Announced 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 DROSRITE™ Furnace System
  • Purchaser is a North American automobile parts manufacturer

MONTREAL, Nov. 16, 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 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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis $PYR.ca Additive to Reveal Completion of Powder Performance Characterization Results by Independent Parties at FormNext $HPQ.ca $DDD $SSYS $PRLB

Posted by AGORACOM-JC at 8:43 AM on Monday, November 13th, 2017

Pyr header 1

  • Powder performance characterization program, for Titanium (Ti64 ELI) powders, by independent parties, has been completed,
  • Will be revealed at FormNext this week in Frankfurt, Germany
  • FormNext is the leading trade fair for the Additive Manufacturing industry.

MONTREAL, Nov. 13, 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 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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis $PYR.ca Signs Non-Disclosure Agreement with a Global Engine Manufacturer $HPQ.ca $DDD $SSYS $ PRLB

Posted by AGORACOM-JC at 8:56 AM on Monday, November 6th, 2017

Pyr header 1

MONTREAL, QUEBEC–(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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis $PYR.ca Submits Final Gen 1 PUREVAP™ Report to HPQ Silicon Resources Inc.

Posted by AGORACOM-JC at 8:43 AM on Wednesday, November 1st, 2017

Pyr header 1

  • Submitted to its client, HPQ Silicon Resources Inc, 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
  • Results of testing the various operating parameters on the final purity of the Silicon Metal produced was rigorously tested

MONTREAL, Nov. 01, 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, 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: ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis $PYR.ca Announces Grant of Two (2) US Patents for a Total of 54 Patents owned (Issued and Pending)

Posted by AGORACOM-JC at 9:13 AM on Thursday, October 26th, 2017

Pyr header 1

  • 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,
  • TThe second targeting the Mining and Metallurgy Industry, which brings the total number of issued and pending patents held by the Company to fifty-four

MONTREAL, Oct. 26, 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 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).

  Block Flow Diagram

“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.
SOURCE PyroGenesis Canada Inc.

 

SOURCE PyroGenesis Canada Inc.

 

For further information: Rodayna Kafal, VP, Investor Relations and Communications, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com or rkafal@pyrogenesis.com

 

_______________________

 

https://www.bccresearch.com/market-research/energy-and-resources/thermal-and-biological-waste-to-energy-markets-report-egy063b.html

 

2 https://www.epa.gov/greenvehicles/greenhouse-gas-emissions-typical-passenger-vehicle-0

 

3 http://www.ironore2015.ausimm.com.au/Media/ironore2015/presentations/S12%20-%20Cameron.pdf

INTERVIEW: PyroGenesis $PYR.ca Discusses Completion of Ramp-Up Phase of 1st Plasma Atomization System, 3 NDAs being negotiated with multinational aircraft engine manufacturers

Posted by AGORACOM-JC at 9:22 AM on Tuesday, October 24th, 2017

PyroGenesis $PYR.ca Announces Completion of Ramp-Up Phase of 1st Plasma Atomization System

Posted by AGORACOM-JC at 8:42 AM on Monday, October 23rd, 2017

Pyr header 1

During the ramp-up, the following were also achieved:

  • Six Non-Disclosure Agreements signed with distributors and 3D printer manufacturers
  • Three NDAs being negotiated with multinational aircraft engine manufacturers, at their request
  • Exclusive distributorship under negotiation in Asia
  • Received six sample orders for metal powder, of which five have been delivered to date
  • Developed new, potentially game changing, intellectual property; Patent applications progressing as expected

MONTREAL, QUEBEC–(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
ir@pyrogenesis.com or rkafal@pyrogenesis.com