- PyroGenesis Canada (PYR) has received a Letter of Intent (LOI) from an existing client, to purchase three 10-ton DROSRITE™ systems
- The contract is expected to be in the $10-15 Million range
- PyroGenesis’ DROSRITE™ system is a cost-effective, sustainable process for maximizing metal recovery
- PyroGenesis designs, develops, manufactures and commercializes advanced plasma products and processes
- PyroGenesis (PYR) is up 3.25 per cent, trading at C$7.30 per share at 3:20 pm ET
PyroGenesis Canada (PYR) has received a Letter of Intent (LOI) from an existing client, to purchase three 10-ton DROSRITE™ systems.
The contract, if finalized, is expected to be in the range of $10-15 Million.
As a result of the client’s decision to expand its aluminum processing facilities, three 10-ton DROSRITE™ systems are projected to be needed, but this may change to a combination of 5-ton and 10-ton DROSRITE™ systems.
“This is indeed a very interesting development, and one which we did not expect,” said P. Peter Pascali, CEO and Chair of PyroGenesis.
“Today’s announcement is confirmation of the rapid adoption of our environmental technologies within the aluminum industry. Our Drosrite™ offering enables smelters to operate in a more economical and environmentally friendly fashion.”
“Aside from the three systems disclosed today, PyroGenesis now has eleven commercial Drosrite™ systems either in full operation, delivered or in the process of being delivered,” added Mr. Pascali.
“Once all eleven systems are in operation, the company expects to benefit from a recurring revenue stream, from spare sparts alone, in excess of $4 Million per year.”
PyroGenesis’ DROSRITE™ system is a salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. PyroGenesis’ process avoids costly loss of metal while reducing a smelter’s carbon footprint and energy consumption.
PyroGenesis designs, develops, manufactures and commercializes advanced plasma products and processes.
PyroGenesis (PYR) is up 3.25 per cent, trading at C$7.30 per share at 3:20 pm ET.