PyroGenesis Canada (TSXV:PYR) has announced further to its press release from March 30, 2017, it signed its first contract and received the down payment for an order of titanium power and Inconel from a conglomerate.
As quoted in the press release:
“As previously announced on March 30, 2017, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made before such time to be very significant as this further validates our strategic decision to enter into powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “This order is a sample order and is most significant in terms of timing and who the Client is, rather than the dollar value itself. The fact that a multinational conglomerate has taken the time to sample our powders before the ramp-up phase is complete is extremely noteworthy. We believe that the contract announced today is just one of many to come. We are very pleased with these developments which we believe underscore the interest in the marketplace for PyroGenesis’ products and unique expertise.”
PyroGenesis’ System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing (“AM”) industry.
PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only led to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the AM industry. The System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1