- PyroGenesis Canada (PYR) has received a purchase order for the first of three 10-tonne Drosrite™ systems from an existing client
- The contract is for US$3 million, or approximately C$4 million
- The client intends to purchase three of the 10-tonne systems to address an increase in their overall dross processing capacity
- PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions
- PyroGenesis Canada Inc. (PYR) is currently down 3.69 per cent, trading at $3.39 per share
PyroGenesis Canada (PYR) has received a purchase order for the first of three 10-tonne Drosrite™ systems from an existing client.
The PyroGenesis Drosrite™ system is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry.
It offers the aluminum industry an economically and environmentally sound solution to processing their dross, eliminating landfills while at the same time contributing to reducing GHG emissions.
This contract is for US$3 million, or approximately C$4 million, and is part of a letter of intent between PyroGenesis and the client that was signed in June 2021.
The client, who will remain anonymous for competitive reasons, intends to purchase three of the 10-tonne systems to address an increase in their overall dross processing capacity.
The client expects the facility to be operational by April 2022, and PyroGenesis will deliver the first system within 6-8 months after receiving the down payment.
With this purchase order, the client has also confirmed the purchase of a second system at the same price as the first upon the successful startup of the client’s facility.
The price and timing of the third system have yet to be determined.
“This purchase order is further validation of the success we are having in introducing our environmental technologies within the aluminum industry,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “PyroGenesis’ Drosrite™ offering enables smelters to not only operate more economically but also to concurrently reduce their GHGs emissions at the same time.
“With the receipt of the purchase order, we now have thirteen commercial Drosrite™ systems either in full operation, delivered, or in the process of being delivered.”
PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions.
PyroGenesis Canada Inc. (PYR) is currently down 3.69 per cent, trading at $3.39 per share as of 3:33 pm EST.
