PyroGenesis - CEO, P. Peter Pascali.
CEO, P. Peter Pascali.
Source: PyroGenesis.
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  • PyroGenesis Canada (PYR) has submitted a cost estimate for 36 plasma torches that are of interest to a potential client
  • “Client A” is a multi-billion-dollar international iron ore pellet producer
  • PyroGenesis estimates that the 36 plasma torches will cost between US$75 and $95 million
  • The company has scheduled a factory acceptance test with “Client A” to be completed in the coming weeks
  • PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions
  • PyroGenesis Canada Inc. (PYR) is up 5.17 per cent, trading at $3.66 per share

PyroGenesis Canada (PYR) has submitted a cost estimate for 36 plasma torches that are of interest to a potential client.

“Client A” is a multi-billion-dollar international iron ore pellet producer whose name remains confidential for competitive reasons.

As mentioned in an earlier release, the client has committed to reducing its greenhouse gas emissions by ordering plasma torches for its production plants.

PyroGenesis estimates that the 36 plasma torches will cost between US$75 and $95 million. The estimate covers a broad range to prepare for uncertainties that will arise as the agreement progresses.

“What is important to take away from our announcement today, and others made in the recent past,” said PyroGenesis CEO P. Peter Pascali, “is not only that things are progressing as they should, and that we are conservatively ticking the boxes one by one, but the sheer magnitude of this opportunity for the company if we are successful.”

With the potential worldwide pellet production estimated at over $10 billion, according to PyroGenesis, Mr. Pascali believes that this order is a sign that it is “moving in the right direction with the right players.”

The company has scheduled a factory acceptance test with “Client A” to be completed in the coming weeks.

PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions.

The company 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.

PyroGenesis Canada Inc. (PYR) is up 5.17 per cent, trading at $3.66 per share as of 9:50 am EST.

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