MONTREAL, Nov. 06, 2017 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has signed a non-disclosure agreement (“NDA”) with Rolls-Royce plc (“RR plc”).
The purpose of the NDA is to encompass the evaluation and discussion of business opportunities, including proposal or offer generation, submission and evaluation, for the provision of providing powders to R-R plc.
“We are very happy to be in discussions with Rolls Royce and look forward, now that the NDA has been signed, to have more substantive discussions on the production of powder for Rolls Royce,” said P. Peter Pascali, President and CEO of PyroGenesis. “I must caution readers however, not to draw any premature conclusions from this announcement. Though it does signal the interest in our product, and that the interest comes from a very discerning, demanding, and sophisticated party, we are still at the very preliminary stages and there is no guarantee that anything, of any commercial value, will materialize form these efforts.”
PyroGenesis is the inventor of Plasma Atomization – a plasma-based process that produces small, spherical, metal powders for the Additive Manufacturing (“AM”) industry, particularly 3D printing, and for which has become a gold standard.
The Company recently announced the successful completion of the ramp-up of its first (1st) plasma atomization system since announcing, in 2016, that it would become a supplier of powders to the AM industry. During ramp-up, the Company not only received several sample orders, but also developed new Intellectual Property which effectively allowed to produce very narrow particle size distributions, at higher production rates, with little-to-no waste. The Company feels that this breakthrough could be even more game changing than its original Plasma Atomization patent.
Separately, the Company announces today that, further to a subsequent event reviewed in the Q3-2016 Management Discussion and Analysis, wherein it was noted that a director had refused 2,000,000 options at $0.18 per share, the Board of Directors, in accordance with its Stock Option Plan, has approved the grant of up to 2,400,000 incentive stock options (each an “Option”) to this same director, also President and CEO of the Company, to purchase up to an aggregate of 2,400,000 Common Shares of the Company, at a price of $0.58 per share. The Options will be exercisable for a period of five (5) years, commencing on the date of the grant. The grant remains subject to regulatory and Exchange approval.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering 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 our 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 engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com
About Rolls-Royce plc
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 Company'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 Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company'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 Company 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.