MONTREAL, June 19, 2024 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company (the "Company" or "PyroGenesis") 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 receipt of a second signed contract from an aerospace client in Spain for the sale of PyroGenesis' titanium metal powder for use in additive manufacturing. The client, who placed an initial order with the Company in April 2024, is a global leader in aerospace propulsion. The client has indicated that the Company may qualify for a long-term contract following the successful completion of this contract. The name of the client will remain anonymous for confidentiality reasons.
This new order is for titanium metal powder with a particle size range of 20-63µm. This "fine cut" powder cut range is ideally suited for Laser Powder Bed Fusion (LPB-F) additive manufacturing methods, including Direct Metal Laser Sintering (DMLS) or Selective Laser Melting (SLM), which are widely recognized for their precision and strength in creating complex metal components.
The order has already been produced using PyroGenesis' NexGen plasma atomization system and will soon be in transit to the client.
"Today's announcement, coming on the heels of our recent press release dated June 5 wherein we announced that the Company had cleared final requirements to become an approved titanium powder supplier to a separate global aerospace OEM, further validates our long-term strategy for this business segment which oftentimes had been questioned. Our efforts to attract major aerospace clients to what we believe are some of the highest quality titanium metal powders in the industry is bearing fruit," said P. Peter Pascali, President and CEO of PyroGenesis. "The Company expects that subsequent to this order PyroGenesis would qualify for a long-term contract with this client."
Massimo Dattilo, Vice President of PyroGenesis Additive, added that "As the commercialization of our titanium metal powder business line continues to expand, we are encouraged by follow-up orders from our initial group of existing clients. We look forward to future contracts within the important European aerospace community."
The Company's development of high quality titanium metal powders is part of the Company's three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Metal powders are part of the Company's Commodity Security & Optimization tier, where the recovery of viable metals, and the optimization of production to increase output, helps to maximize raw materials and improve the availability of critical minerals. Titanium has been identified as a critical mineral by the Canadian government.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., 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. 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 the Company 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 the Company's latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under the Company's profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect the Company. 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. The Company 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/
