PyroGenesis Receives $1.04 Million Project Milestone Payment Under Existing $4.1 Million Contract for 4.5MW Plasma Torch with Aeronautics and Defense Client
PyroGenesis has received a US$730,000 (CA$1.04 million) milestone payment under an existing CA$4.1 million contract for a 4.5MW plasma torch with an undisclosed aeronautics and defense industry client. The client, which serves as a prime contractor for the U.S. government, recently signed an additional $27 million contract with PyroGenesis for a hyper-powered 20MW plasma torch.
The development of these high-powered plasma torch systems demonstrates PyroGenesis' capability to address challenging high-temperature process-heating needs in aerospace, defense, and heavy industries. The technology is part of the company's Energy Transition & Emissions Reduction strategy, helping industries reduce fossil fuel use and greenhouse gas emissions. This recent contract has increased PyroGenesis' project backlog to over $55 million, marking a historic high for the company.
PyroGenesis ha ricevuto un pagamento di milestone di 730.000 USD (1,04 milioni di CAD) nell'ambito di un contratto esistente da 4,1 milioni di CAD per un torcia al plasma da 4,5 MW con un cliente non divulgato dell'industria aeronautica e della difesa. Il cliente, che funge da appaltatore principale per il governo degli Stati Uniti, ha recentemente firmato un ulteriore contratto da 27 milioni di dollari con PyroGenesis per una torcia al plasma iper-potente da 20 MW.
Lo sviluppo di questi sistemi di torcia al plasma ad alta potenza dimostra la capacità di PyroGenesis di affrontare le sfide legate alle esigenze di riscaldamento dei processi ad alta temperatura nei settori aerospaziale, della difesa e delle industrie pesanti. Questa tecnologia è parte della strategia di Transizione Energetica e Riduzione delle Emissioni dell'azienda, contribuendo ad aiutare le industrie a ridurre l'uso di combustibili fossili e le emissioni di gas serra. Questo contratto recente ha aumentato il portafoglio progetti di PyroGenesis a oltre 55 milioni di dollari, segnando un massimo storico per l'azienda.
PyroGenesis ha recibido un pago por hitos de 730,000 USD (1.04 millones de CAD) bajo un contrato existente de 4.1 millones de CAD para una antorcha de plasma de 4.5 MW con un cliente no divulgado de la industria aeronáutica y de defensa. El cliente, que actúa como contratista principal para el gobierno de los Estados Unidos, firmó recientemente un contrato adicional de 27 millones de dólares con PyroGenesis para una antorcha de plasma hiperpotente de 20 MW.
El desarrollo de estos sistemas de antorcha de plasma de alta potencia demuestra la capacidad de PyroGenesis para abordar las desafiantes necesidades de calefacción de procesos a alta temperatura en la industria aeroespacial, de defensa e industrial pesada. Esta tecnología es parte de la estrategia de Transición Energética y Reducción de Emisiones de la empresa, ayudando a las industrias a reducir el uso de combustibles fósiles y las emisiones de gases de efecto invernadero. Este reciente contrato ha aumentado la cartera de proyectos de PyroGenesis a más de 55 millones de dólares, marcando un récord histórico para la empresa.
PyroGenesis는 공개되지 않은 항공 우주 및 방산 산업 클라이언트와의 기존 410만 캐나다 달러 계약에 따라 73만 달러(104만 캐나다 달러)의 이정표 지급금을 받았습니다. 이 클라이언트는 미국 정부의 주요 계약자로 활동하며, 최근 PyroGenesis와 2700만 달러 계약을 추가로 체결하여 20MW 하이퍼 파워드 플라즈마 토치를 구매했습니다.
이러한 고출력 플라즈마 토치 시스템의 개발은 항공 우주, 방위 및 중공업에서 높은 온도 공정 난방 요구 사항을 해결할 수 있는 PyroGenesis의 능력을 보여줍니다. 이 기술은 회사의 에너지 전환 및 배출 감소 전략의 일환으로, 산업이 화석 연료 사용과 온실가스 배출을 줄이는 데 도움을 주고 있습니다. 이번 계약으로 PyroGenesis의 프로젝트 백로그는 5500만 달러를 넘어서며, 이는 회사의 역사적인 최고 기록입니다.
PyroGenesis a reçu un paiement de jalon de 730 000 USD (1,04 million de CAD) dans le cadre d'un contrat existant de 4,1 millions de CAD pour un torche à plasma de 4,5 MW avec un client non divulgué de l'industrie aéronautique et de défense. Ce client, qui sert de contractant principal pour le gouvernement des États-Unis, a récemment signé un contrat supplémentaire de 27 millions de dollars avec PyroGenesis pour une torche à plasma hyperpuissante de 20 MW.
Le développement de ces systèmes de torche à plasma haute puissance démontre la capacité de PyroGenesis à répondre à des besoins exigeants en chauffage de procédés à haute température dans l'aérospatiale, la défense et les industries lourdes. Cette technologie fait partie de la stratégie de Transition Énergétique et de Réduction des Émissions de l'entreprise, aidant les industries à réduire leur utilisation de combustibles fossiles et leurs émissions de gaz à effet de serre. Ce contrat récent a porté le carnet de commandes de PyroGenesis à plus de 55 millions de dollars, marquant un point culminant historique pour l'entreprise.
PyroGenesis hat eine Meilensteinzahlung von 730.000 USD (1,04 Millionen CAD) im Rahmen eines bestehenden Vertrags über 4,1 Millionen CAD für eine 4,5 MW Plasma-Lampe von einem nicht genannten Kunden aus der Luft- und Raumfahrt- sowie Verteidigungsbranche erhalten. Der Kunde, der als Hauptauftragnehmer für die US-Regierung fungiert, hat kürzlich einen weiteren 27-Millionen-Dollar-Vertrag mit PyroGenesis für eine hyperleistungsfähige 20-MW-Plasma-Lampe unterzeichnet.
Die Entwicklung dieser Hochleistungs-Plasma-Lampen-Systeme zeigt die Fähigkeit von PyroGenesis, herausfordernde Bedürfnisse an der Prozesswärme bei hohen Temperaturen in der Luft- und Raumfahrt, Verteidigung und Schwerindustrie zu erfüllen. Diese Technologie ist Teil der Strategie des Unternehmens zur Energiewende und Emissionsreduzierung, die den Industrien hilft, den Einsatz fossiler Brennstoffe und die Treibhausgasemissionen zu reduzieren. Dieser neueste Vertrag hat den Projektauftragsbestand von PyroGenesis auf über 55 Millionen Dollar erhöht, was einen historischen Höchststand für das Unternehmen darstellt.
- Received US$730,000 milestone payment from existing contract
- Secured new $27 million contract for 20MW plasma torch
- Project backlog reached record high of over $55 million
- Technology expansion into high-value defense and aerospace sectors
- None.
The Company also recently signed a second contract with this client for a
MONTREAL, Jan. 21, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, announces the receipt of a US
As previously announced on August 1, 2023, PyroGenesis signed a
Of note, this same Client recently signed a
“As I stated when we first announced this contract, the development of a 4.5 MW plasma torch system reflects the potential for PyroGenesis’ technology to be a solution for significantly more challenging high, and ultra-high, temperature process-heating needs, specifically within aerospace, defense, and certain heavy industries,” noted P. Peter Pascali, President and CEO of PyroGenesis. “Additionally, plasma torches at these power levels positions PyroGenesis to expand its capabilities into other industries requiring high temperature technology at an appreciably higher power level (such as in the glass, cement, petrochemical, metal heating and melting industries). This need is rising as global energy transition measures, and the demand for unique high power heat applications, accelerate. The critical nature and advanced science involved in this client’s applications underscores the regard for PyroGenesis’ scientific and engineering capabilities.”
PyroGenesis’ development of plasma torches for use in high temperature applications is part of its three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches as a high and ultra-high temperature application are part of PyroGenesis’ Energy Transition & Emissions Reduction tier, where fuel switching to PyroGenesis’ electric-powered plasma torches helps heavy industry reduce fossil fuel use and greenhouse gas emissions. The other tiers are Waste Remediation and Commodity Security and Optimization.
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: 8PY).
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
http://www.pyrogenesis.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cc213e6-adb5-4f01-b596-4aaa98da0498
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