PyroGenesis Receives Initial Contract for Titanium Metal Powder from European Additive Manufacturing Company
http://pyrogenesis.com
) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a high-tech company that designs, develops, manufactures and commercializes advanced all-electric plasma processes and sustainable solutions to support heavy industry in their energy transition, emission reduction, commodity security, and waste remediation efforts, today announces receipt of a contract for titanium metal powder produced by PyroGenesis' NexGen™ plasma atomization process, from a European engineering and material science firm specializing in the additive manufacturing industry. The name of the client and terms of the contract will remain confidential for competitive reasons.
The client previously received and tested samples of PyroGenesis' metal powder. Today's contract announcement marks the first commercial order with this customer. The order is for a Ti64 'coarse' cut titanium metal powder, of the type that was recently qualified for use and added to the approved list of metal powders by a major global aerospace company. The powder for this order has already been produced and will be shipped to the customer over the next few weeks.
Image: PyroGenesis' titanium metal powder as produced by its NexGen™ plasma atomization system.
'This initial order comes after a successful review and testing process with this European customer. The high standard of Ti64 metal powder produced at PyroGenesis Additive is the result of years of groundbreaking design and engineering work that went into developing our NexGen™ plasma atomization process, and the commercial results of these efforts are starting to appear,' said P. Peter Pascali, President and CEO of PyroGenesis. 'This customer is a key technology hub for their region, with state-of-the-art engineering and R&D. We hope to see further contracts that reflect the importance of the customer's role within the industry.'
INDUSTRY AND MARKET CONTEXT
PyroGenesis is the inventor of the plasma atomization process and in fact coined the term 'plasma atomization' in its original patent. The Company's NexGen™ system is a patented upgrade to what is considered the gold standard process for the development of metal powder for additive manufacturing, also referred to as metal 3D printing.
PyroGenesis' development of high quality titanium metal powders is part of its
three-vertical solution ecosystem
that aligns with economic drivers that are key to global heavy industry. Metal powders are part of PyroGenesis' Commodity Security & Optimization vertical, where the development of advanced material production techniques, and the use of technology such as plasma to recover viable metals, chemicals, and minerals from industrial waste, helps to maximize raw materials and improve the availability of critical minerals. Titanium has been
identified as a critical mineral by the Canadian government
. The other verticals are Energy Transition and Emission Reduction, and Waste Remediation.
About PyroGenesis Inc.
PyroGenesis, a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional 'dirty' processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. PyroGenesis' shares are publicly traded on the TSX in Canada (TSX: PYR), the OTCQX in the US (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY1). For more information, please visit:
www.pyrogenesis.com
.
Cautionary and Forward-Looking Statements
This press release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'is positioned', 'estimates', 'intends', 'assumes', 'anticipates' or 'does not anticipate' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur' or 'be achieved'. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under 'Risk Factors' in PyroGenesis' latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis' profile on SEDAR+ at
www.sedarplus.ca
. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws.
Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.
For further information please contact:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
E-mail:
ir@pyrogenesis.com
RELATED LINK:
http://www.pyrogenesis.com/
1
https://www.grandviewresearch.com/horizon/outlook/metal-3d-printing-market/europe
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/972be37a-ed22-482b-adae-f5934b084f13
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