- Signed its third contract for a sample order of titanium powder (Ti-6Al-4V) from a large manufacturer of 3D printers
- Successfully produced and delivered its first powder order
- “The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market’s confidence in our capabilities and the underlying demand for our product…”
MONTREAL, QUEBEC–(June 19, 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, is pleased to announce today that not only has it signed its third contract for a sample order of titanium powder (Ti-6Al-4V) from a large manufacturer of 3D printers, the name and origin of which will not be disclosed for competitive reasons, but it has also, further to its press release dated April 25, 2017, successfully produced and delivered its first powder order. Of particular note is that this third order was also placed during the ramp-up phase of the Company’s powder production system (the “System”), during which time the Company had no expectations of any powder sales at all. All three orders were from different clients.
“As we previously announced, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made during ramp-up to be very significant as this would further validate our strategic decision to re-enter the market for powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market’s confidence in our capabilities and the underlying demand for our product. As we have said before, although these orders are sample orders, what is truly noteworthy is that they have been received during our ramp-up phase, and the fact that these clients have taken the time to sample our powders and allocate the funds to qualifying them internally, all before the ramp-up phase is complete, is extremely significant.”
“The level of interest in our capabilities has taken us all by surprise as we did not expect this much interest so early on in and, of course, we are happy with the results so far,” said Massimo Dattilo, Vice President of PyroGenesis Additive. “Of note in today’s announcement, is that the first order was not only for Ti-6Al-4V but also for Inconel powder. This is indeed a watershed mark for the Company as it underscores the flexibility in the system and our capabilities as a company; and it has all taken place well ahead of our most aggressive expectations.”
As previously announced, PyroGenesis is the inventor of Plasma Atomization. The Company’s System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing (“AM”) Industry.
The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led to a patent pending.
On March 30, 2017, the Company announced that it had completed the assembly of its first System and that the first powder run exceeded expectations. This System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1 The ramp-up of the System is expected to be completed over the next few months.
“Our team remains focused and dedicated to our commitments to deliver high quality powders to the Additive Manufacturing Industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry”, said Pierre Carabin, Chief Technology Officer of PyroGenesis. “We are on schedule and extremely happy with the continuous increase we are seeing in our process performance.”
Separately, PyroGenesis is also pleased to announce today that it is implementing an online marketing and awareness program through AGORACOM, wherein the Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine and social media marketing. In addition, exclusive sponsorships of invaluable digital properties such as the AGORACOM home page, AGORACOM TV, and the AGORACOM Twitter account will serve to significantly raise awareness of PyroGenesis’ business among small cap investors. The PyroGenesis discussion forum can be found at https://agoracom.com/ir/PyroGenesisCanada/forums/discussion.
Additionally, AGORACOM has launched “CEO Verified” Discussion Forums, the first ever verification of small cap executive posts on a finance platform. For the first time ever, small cap CEOs and other company officials can use AGORACOM discussion forums as their main social media platform to post comments and interact with both shareholders and the broader investment community in a fully moderated and verified forum. Posts to AGORACOM are shareable on Twitter, Facebook and LinkedIn. There are no log-in requirements for investors to read posts; those wishing to post questions, comments and interact with PyroGenesis officials can quickly log-in using their Facebook or LinkedIn accounts, or create a new user account.
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.
1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)
SOURCE PyroGenesis Canada Inc.
