On Schedule for Q1-2017 Completion
MONTREAL, QUEBEC–(Marketwired – March 14, 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 based systems and plasma torch products, is pleased to announce today that it has received all equipment, parts and components for its powder production system (the “System”), and that the System is well into the assembly phase.
PyroGenesis’ System uses Plasma Atomization to make very pure, small, uniform, fully dense, 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 being built today 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)
We also confirm today that the first powder run is still on schedule for the end of Q1, and that the ramp up is projected, as previously announced on January 23, 2017, to take place linearly, over the ensuing four (4) months.
Figure 1 – Plasma Atomization System Assembled: http://media3.marketwire.com/docs/plasma_atomization_system.jpg
“So far there have not been any unforeseen challenges during the assembly phase, and we don’t expect any during the start-up or ramp up phases”, said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “What is noteworthy however, is the amount of interest we are receiving for the supply of our powders from potential customers and investors; the volume of interest from potential customers has taken us all by surprise.”
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.
“There are many factors which set us apart from all other powder producers,” said 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, particulary 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 have only made us more optimistic than ever before, that PyroGenesis will quickly become one of the leading metallic powder suppliers 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.
VP, Investor Relations and Communications
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