- PyroGenesis (PYR) has announced a C$1.2 million contract for two Air Plasma Torch systems with an existing Asian client
- The client will incorporate the torches into its medical waste destruction systems
- The company believes the contract has the potential to catalyze the replacement of legacy tech in medical waste disposal
- PyroGenesis Canada designs, develops, manufactures and commercializes advanced plasma processes with a sustainable focus
- PyroGenesis (PYR) is up by 8.07 per cent and is currently trading at $5.09 per share
PyroGenesis (PYR) has announced a C$1.2 million contract for two Air Plasma Torch systems with an existing Asian client.
The client, whose name is being withheld for competition reasons, will incorporate the torches into its medical waste destruction systems.
The company expects to deliver the torches in Q1 2022.
P. Peter Pascali, CEO and Chair of PyroGenesis, commented,
“This contract is for two Air Plasma Torch systems, which are low-powered and very different from the high-powered torches we offer to other industries (for example – iron ore pelletization), and underscores both the versatility and acceptance of our torches as well as our unique engineering capabilities.
Of note, if successful, these medical waste systems may replace legacy technologies, such as medical incinerators, which are inefficient and widely criticized for generating greenhouse gases. There is an enormous unaddressed medical waste management need worldwide, particularly in Southeast Asia (World Health Organization), for cutting edge solutions such as this.
More importantly, this entry into the medical waste destruction market is just another of our offerings that complement our strategy to become a preeminent supplier of processes that reduce greenhouse gases.”
PyroGenesis Canada designs, develops, manufactures and commercializes advanced plasma processes with a sustainable focus.
PyroGenesis (PYR) is up by 8.07 per cent and is currently trading at $5.09 per share as of 12:14 pm ET.
