MONTREAL, QUEBEC–(Marketwired – March 30, 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 plasma waste-to-energy systems and plasma torch products, announces today that, further to its press releases of January 23, 2017 and March 14, 2017, it has completed the assembly of its first powder production system (the “System”), with the first powder run exceeding expectations and ramp-up already underway. The ramp-up is to take place linearly over approximately four (4) months.
“The first production run not only exceeded our expectations in terms of powder quality and production rate”, said Pierre Carabin, Chief Technology Officer of PyroGenesis, “but it also marked both the official start of the ramp-up period and a critical step in achieving our stated goal to become a leading supplier of high purity powders catering to the Additive Manufacturing Industry. The first powders produced were Ti-6Al-4V, one of the most sought after powder on the market. In addition, the System will allow PyroGenesis to produce other materials such as Titanium alloys and nickel based superalloy materials.”
“Although we were confident we would complete the System and first run on schedule and on budget, it is always nice to tick that box”, said P. Peter Pascali, President and CEO of PyroGenesis. “We were challenged at times by significant delays from suppliers, but it is a testament to the dedication and commitment of PyroGenesis’ team that we make this announcement today. A dedication and commitment one can expect to see throughout this project.”
PyroGenesis’ 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 industry.
PyroGenesis is the inventor of Plasma Atomization. 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 not only lead to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the Additive Manufacturing industry. The System is the first of many PyroGenesis expects to make to address this increasing need for metal powders in the Additive Manufacturing industry.1
1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)
Additionally, and as previously announced, powders produced during the ramp-up phase will be available for sale. The initial focus will be on producing pure Titanium (CP Ti) and Ti-6Al-4V powders however PyroGenesis has also received interest for other metal powders and expects to attend to this as well.
“What is noteworthy, beyond the technical successes announced today, is the continued interest we are receiving for the supply of our powders from potential customers, the volume of which, and from whom the interest is coming from, continues to take us all by surprise,” said Mr. Pascali. “We did not expect this type of interest before ramp-up was complete, and we would consider any sample orders (i.e. up to 500kg) made before ramp up is complete, to be very significant, and a further validation of our strategic decision to move into powder production.”
“As mentioned before, there are many factors which set us apart from all other powder producers,” added Mr. Pascali. “For one, the fact that PyroGenesis is the inventor of Plasma Atomization, and has one of the largest concentrations of plasma expertise under one roof, has enabled the Company to not only improve the process significantly, but allow it to continuously improve and thereby enable Additive Manufacturing. Let us not forget that PyroGenesis has produced Titanium powders in the past, and is not new to this prospect. Add to this the fact that there is serious consolidation taking place in the industry which is exasperating an already serious lack of powder suppliers, particularly of the characteristics we supply, all bodes well for PyroGenesis’ strategy to supply unique powders to the Additive Manufacturing industry. In short, we remain confident, and recent events including such a successful first powder production run, have only made us more optimistic than ever before, that PyroGenesis will quickly become a leading metallic powder supplier to the Additive Manufacturing (3D Printing) industry.”
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.
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