PyroGenesis Signs Landmark $27 Million 3-Year Contract for Hyper-Powered 20MW Plasma Torch
PyroGenesis Canada Inc. has signed a $27 million contract for a 20MW plasma torch system with an existing U.S. client in the defense and aerospace sector. This landmark 3-year project increases PyroGenesis' backlog by approximately 90% to over $55 million, an all-time high for the company. The client, who previously ordered a 4.5MW plasma torch system, regularly serves as a prime contractor for the U.S. government.
The 20MW plasma torch is believed to be one of the most powerful commercially produced, positioning PyroGenesis for expansion into industries requiring higher power level technology. This contract highlights PyroGenesis' role in addressing challenging high-temperature needs in aerospace, defense, and heavy industries, aligning with global energy transition measures and emissions reduction efforts.
PyroGenesis Canada Inc. ha firmato un contratto del valore di 27 milioni di dollari per un sistema a torcia al plasma da 20MW con un cliente statunitense già esistente nel settore della difesa e dell'aerospaziale. Questo progetto storico di 3 anni aumenta l'ordine arretrato di PyroGenesis di circa il 90% a oltre 55 milioni di dollari, un massimo storico per l'azienda. Il cliente, che in precedenza aveva ordinato un sistema a torcia al plasma da 4,5MW, funge regolarmente da appaltatore principale per il governo statunitense.
Si ritiene che la torcia al plasma da 20MW sia una delle più potenti mai prodotte commercialmente, posizionando PyroGenesis per un'espansione in industrie che richiedono tecnologie di potenza superiore. Questo contratto evidenzia il ruolo di PyroGenesis nell'affrontare le esigenze impegnative ad alta temperatura nei settori aerospaziale, della difesa e delle industrie pesanti, allineandosi con le misure globali di transizione energetica e con gli sforzi per ridurre le emissioni.
PyroGenesis Canada Inc. ha firmado un contrato por un valor de 27 millones de dólares para un sistema de antorcha de plasma de 20MW con un cliente estadounidense existente en el sector de defensa y aeronáutica. Este proyecto histórico de 3 años aumenta la carga de trabajo pendiente de PyroGenesis en aproximadamente el 90% a más de 55 millones de dólares, un máximo histórico para la empresa. El cliente, que anteriormente había ordenado un sistema de antorcha de plasma de 4,5MW, actúa regularmente como contratista principal para el gobierno de EE. UU.
Se cree que la antorcha de plasma de 20MW es una de las más potentes producidas comercialmente, posicionando a PyroGenesis para la expansión en industrias que requieren tecnología de niveles de potencia más altos. Este contrato destaca el papel de PyroGenesis en abordar necesidades desafiantes de altas temperaturas en los sectores de aeronáutica, defensa e industrias pesadas, alineándose con las medidas globales de transición energética y con los esfuerzos de reducción de emisiones.
PyroGenesis Canada Inc.는 방위 및 항공 우주 분야의 기존 미국 고객과 2천7백만 달러 규모의 20MW 플라즈마 토치 시스템 계약을 체결했습니다. 이 역사적인 3년 프로젝트는 PyroGenesis의 백로그를 약 90% 증가시켜 5천5백만 달러 이상으로 만들어, 회사 역사상 최고치를 기록했습니다. 이전에 4.5MW 플라즈마 토치 시스템을 주문한 고객은 정기적으로 미국 정부의 주요 계약자를 맡고 있습니다.
20MW 플라즈마 토치는 상업적으로 생산된 가장 강력한 것 중 하나로 여겨지며, PyroGenesis가 더 높은 전력 수준 기술이 필요한 산업으로 확장할 수 있도록 합니다. 이 계약은 항공 우주, 방위 및 중공업의 높은 온도 요구 사항을 해결하는 데 있어 PyroGenesis의 역할을 강조하며, 글로벌 에너지 전환 조치 및 배출 감소 노력과 일치합니다.
PyroGenesis Canada Inc. a signé un contrat d'une valeur de 27 millions de dollars pour un système de torche à plasma de 20MW avec un client américain existant dans le secteur de la défense et de l'aérospatiale. Ce projet marquant de 3 ans augmente le carnet de commandes de PyroGenesis d'environ 90 % à plus de 55 millions de dollars, un niveau record pour l'entreprise. Le client, qui avait précédemment commandé un système de torche à plasma de 4,5 MW, agit régulièrement en tant que contractant principal pour le gouvernement américain.
On considère que la torche à plasma de 20 MW est l'une des plus puissantes produites commercialement, positionnant PyroGenesis pour une expansion dans des industries nécessitant des technologies de niveau de puissance supérieur. Ce contrat souligne le rôle de PyroGenesis dans la satisfaction des besoins exigeants en haute température dans les secteurs aéronautique, de la défense et des industries lourdes, s'alignant sur les mesures mondiales de transition énergétique et les efforts de réduction des émissions.
PyroGenesis Canada Inc. hat einen Vertrag über 27 Millionen Dollar für ein 20MW-Plasmaschweißsystem mit einem bestehenden US-Kunden aus dem Verteidigungs- und Luftfahrtsektor unterzeichnet. Dieses historische 3-Jahres-Projekt erhöht den Auftragsbestand von PyroGenesis um etwa 90 % auf über 55 Millionen Dollar, ein Rekordhoch für das Unternehmen. Der Kunde, der zuvor ein 4,5-MW-Plasmaschweißsystem bestellt hatte, fungiert regelmäßig als Hauptauftragnehmer für die US-Regierung.
Die 20-MW-Plasma-Vorhut wird als eines der leistungsstärksten kommerziell produzierten Systeme angesehen, was PyroGenesis in die Lage versetzt, in Branchen zu expandieren, die Technologien mit höheren Leistungsniveaus erfordern. Dieser Vertrag hebt die Rolle von PyroGenesis bei der Bewältigung herausfordernder Hochtemperaturbedarfe in der Luftfahrt, der Verteidigung und der Schwerindustrie hervor und stimmt mit den globalen Maßnahmen zum Energiewandel sowie den Bemühungen zur Reduzierung von Emissionen überein.
- Secured a $27 million contract for a 20MW plasma torch system
- Backlog increased by 90% to over $55 million, an all-time high
- Expansion potential into industries requiring higher power level technology
- Strengthened position in aerospace and defense sectors
- Aligns with global energy transition and emissions reduction efforts
- None.
Backlog increases by approx.
MONTREAL, Oct. 21, 2024 (GLOBE NEWSWIRE) -- PyroGenesis Canada 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, is pleased to announce a signed contract valued at approximately
The client, which previously ordered a 4.5MW plasma torch system from PyroGenesis in August 2023, regularly serves as a prime contractor for the U.S. government. This new project does not impact the ongoing 4.5MW plasma torch system project.
This second project is for the development of a plasma torch system powered at 20 megawatts. A plasma torch at this power level, based on PyroGenesis’ own research, represents one of the most powerful (if not the most powerful) plasma torches ever produced commercially. The project is expected to start within the next 30 days, with an approximate duration of 3 years – pushing the Company’s project backlog to over
“This landmark contract for a PyroGenesis-developed 20 MW plasma torch system raises the bar globally for plasma power and demonstrates the role PyroGenesis’ technology plays for significantly more challenging high, ultra-high, and now hyper-high temperature and power needs. This need is seen specifically within aerospace, defense, and certain heavy industries,” noted P. Peter Pascali, President and CEO of PyroGenesis. “Beyond its use in military and aeronautics, plasma torches of this power level position us well to expand our capabilities into other industries requiring appreciably higher power level technology, such as glass, cement, petrochemical, and metal and mineral heating, as well as melting industries – a requirement that is becoming more common as global energy transition measures, and the demand for unique high power heat applications, accelerate. The critical nature and the advanced science involved in this client’s application underscores the regard that clients have for PyroGenesis’ scientific and engineering capabilities.”
PyroGenesis’ development of plasma torches for use in high temperature applications are part of its three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches are part of its Energy Transition & Emissions Reduction vertical, where fuel switching to its electric-powered plasma torches helps heavy industry reduce fossil fuel use and greenhouse gas emissions.
About PyroGenesis
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). 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/
FAQ
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