MONTREAL, Aug. 14, 2018 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR), a TSX Venture 50® high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch systems, is pleased to announce today, that PyroGenesis’ powders have either met or exceeded rigorous properties requirements under intensive chemical and mechanical analysis conducted by a leading 3D printer OEM (the “Client”). The name of the Client has been withheld and will remain confidential for competitive reasons. Conversations have now turned to commercial discussions.
The powder tested was Ti-6Al-4V grade 23; one of the most sought-after powders in metal 3D Printing, particularly from plasma atomization. The analysis consisted of, amongst other things, validating chemical composition, printing properties, density, hardness and tensile strength.
Discussions have now turned to becoming a supplier of powders to the Client, as well as becoming an approved supplier to their end-users. This would mean that any user of this printer type could either purchase PyroGenesis’ powder from the Client or directly from PyroGenesis for use in their printers.
“This is indeed an incredible milestone and achievement when considering the short amount of time from when PyroGenesis announced it was re-entering the powder production business,” said Mr. Massimo Dattilo, Vice President Sales of PyroGenesis. “Of note, this is not the only printer OEM we are in discussions with. We have made significant inroads to being approved on other printer types as well, and we look forward to making additional announcements as events unfold.”
“This announcement, the first of its type for PyroGenesis, is another step towards PyroGenesis’ goal of becoming a leading powder supplier to the Additive Manufacturing industry (AM),” said Mr. P Peter Pascali, CEO and President of PyroGenesis. “We are cautiously optimistic and recognize that a successful conclusion of these discussions, if and when they occur, is dependent on many things outside of PyroGenesis’ control. However, given today’s announcement, coming on the heels of that released in May wherein the Company’s first major exclusive commercial contract for 10 tons of titanium powder was announced, we are now more focused than ever on the need to address increased market expectations.”
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides technical and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and technical services to the global marketplace. Its operations are ISO 9001 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information: Rodayna Kafal, VP, Investor Relations and Strategic Business Development, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com