PyroGenesis Announces $340K Down Payment on Sale of DROSRITE Furnace System

PyroGenesis Canada announced the receipt of a $340,000 down payment for a supply of its DROSRITE Furnace System to a North American automobile parts manufacturer (termed “the Client” in the press release).
According to the press release:

This contract was signed last June based on the successful results of a two-week pilot demonstration of the DROSRITE process at one of the Client’s North American manufacturing facilities earlier this year. The System is expected to become operational in Q1 2016, and will showcase the transformative nature of PyroGenesis’ DROSRITE technology to an industry that has been plagued by rising electricity costs, large carbon footprint, and poor environmental legacies. It is expected that, soon after commissioning, the Client will purchase two (2) additional DROSRITE Systems.

Pierre Carabin, PyroGenesis’ Director of Engineering, commented:

With over 53 million metric tonnes of aluminum produced in 2014 by primary smelters alone, and recognizing that dross is being produced at all steps of aluminum production and transformation, the opportunity to deploy our DROSRITE™ technology is vast.  When one factors in rising electrical costs, the DROSRITE™ process provides a quick return on investment while ensuring no hazardous residue legacies which have plagued this industry for years.

Click here to see the full press release from PyroGenesis.