Pyrogenesis Announces Successful Completion of the Previously Announced Zinc Paid-for-demonstration of DROSRITE™ in India; Commercial Application Confirmed
MONTREAL, Dec. 03, 2018 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® high-tech company, (the “Company”, the “Corporation” or “PyroGenesis”) a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to a Press Release dated October 25th, 2018, the zinc paid-for-demonstration of DROSRITE™ system (the “System”) is now complete, and the results confirm PyroGenesis’ DROSRITE™ System’s commercial application to zinc dross. The Client is one of India’s biggest primary smelters and has an estimated need of upwards of ten (10) Systems within its umbrella of companies.
The tests have been completed and demonstrate that DROSRITE™ is successful in recovering 98% of metal from zinc dross. This is comparable to that from the application of DROSRITE™ to aluminum dross. The analyses were conducted independently by the Client. The results indicate that the quality of the zinc is excellent, and the contaminants in the residue, such as chlorides, are significantly reduced. In addition, the System is easier to operate with zinc, when compared to aluminum, due to the lower melting point of zinc.
“We are buoyed by these results,” said Mr. Alex Pascali, Business Development Manager of PyroGenesis. “DROSRITE™ is clearly attracting a lot of attention, specifically with respect to tolling. As has been mentioned, we are in several strategic discussions with smelters, and after our recent business development trip to Europe and Asia, this has accelerated. We must, at some point, consider offering only DROSRITE™ tolling services, given the recurring benefits of such a strategy.”
“These zinc dross results, together with our recent success in the aluminum dross market, confirm that our proprietary DROSRITE™ System is a game changer,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “Not only have we proven the commercial application of PyroGenesis’ DROSRITE™ System to aluminum dross, but we have, today, demonstrated the same for zinc dross, which significantly increases the value of the Company’s DROSRITE™ System.”
With the successful completion of this zinc demonstration, PyroGenesis can now target zinc smelters around the world. Of note, the price of zinc is approximately 33% higher than that of aluminum.
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’ patented process avoids costly loss of metal while reducing a smelter’s carbon footprint and energy consumption, providing an impressive return on investment. The System has been designed to process and recover valuable metal such as aluminum, zinc and copper from dross.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 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. Our 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. Our operations are ISO 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com 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 Corporation’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 Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation’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 Corporation 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 OTCQB accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.