PyroGenesis Receives Confirmation that the first 5,000 TPY DROSRITE System Successfully Passes Factory Acceptance Test
MONTREAL, Nov. 19, 2020 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://www.pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and
commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce that, further to its press release dated September 22nd,
2020, PyroGenesis’ technology successfully passed the Factory Acceptance Test (“FAT”), conducted by Drosrite International LLC (“DI”), on behalf of their client, for the first 5,000 TPY DROSRITE
“The success of this FAT testing marks an important milestone for PyroGenesis and DI,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “Once again, we are proud to see the DROSRITE technology being adopted successfully, this time, for use in one of the premier aluminum smelters in the world. It indeed validates PyroGenesis’ DROSRITE technology, as it has become the dross processing solution of choice for an extremely discerning end-user. As one might expect, we have seen a significant increase in interest in our DROSRITE technology given that the DI contract, with its client, was awarded primarily based on the DROSRITE technology.”
The testing was held at DI’s supplier’s manufacturing facility, in the United States of America (“USA”), where the end user evaluated the equipment during, and after, the assembly process. The end user verified that the 5,000 TPY DROSRITE System was manufactured and operated in accordance with, amongst other things, design specifications. Based on this successful testing, the end user decided to forego performing an additional FAT test on the second 5,000 TPY DROSRITE System. Both Systems are expected to be shipped from the USA to the Middle East, within the next four (4) weeks, and are expected to arrive approx. two (2) months thereafter.
Before shipping, PyroGenesis is expected to receive an additional ~$2.6MM from DI (representing total receipt from DI to date of over $10MM under the previously disclosed +$25MM DROSRITE contract to deliver five (5) 5,000 TPY DROSRITE Systems, plus two (2) 10,000 TPY DROSRITE Systems).
About PyroGenesis Canada Inc
PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products. The Company provides its engineering and manufacturing expertise and its turnkey process equipment packages to customers in the defense, metallurgical, mining, advanced materials (including 3D printing), and environmental industries. With a team of experienced engineers, scientists and technicians working out of its Montreal office and its 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The Company’s core competencies allow PyroGenesis to provide innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified. For more information, please visit www.pyrogenesis.com.