PyroGenesis Announces Successful Delivery of First Order of Titanium and Inconel Powders and Receipt of Third Powder Order During Ramp-Up Phase

PyroGenesis Canada (TSXV:PYR) has announced it has signed its third contract for a sample order of titanium-powder from a larger manufacturer of 3D printers.
As quoted in the press release:

Further to its press release dated April 25, 2017, successfully produced and delivered its first powder order. Of particular note is that this third order was also placed during the ramp-up phase of the Company’s powder production system (the “System”), during which time the Company had no expectations of any powder sales at all. All three orders were from different clients.
“As we previously announced, 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 during ramp-up to be very significant as this would further validate our strategic decision to re-enter the market for powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market’s confidence in our capabilities and the underlying demand for our product. As we have said before, although these orders are sample orders, what is truly noteworthy is that they have been received during our ramp-up phase, and the fact that these clients have taken the time to sample our powders and allocate the funds to qualifying them internally, all before the ramp-up phase is complete, is extremely significant.”
“The level of interest in our capabilities has taken us all by surprise as we did not expect this much interest so early on in and, of course, we are happy with the results so far,” said Massimo Dattilo, Vice President of PyroGenesis Additive. “Of note in today’s announcement, is that the first order was not only for Ti-6Al-4V but also for Inconel powder. This is indeed a watershed mark for the Company as it underscores the flexibility in the system and our capabilities as a company; and it has all taken place well ahead of our most aggressive expectations.”

Click here to read the full press release.