MONTREAL, June 05, 2024 (GLOBE NEWSWIRE) — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, is pleased to announce today that it has been advised by a global aerospace OEM company that PyroGenesis’ Ti64 “coarse” powder has met all the necessary requirements to be added to the client’s approved supplier list. The client (whose name is withheld at its request for confidentiality and competitive reasons) will now begin the formal process of adding PyroGenesis to its internal approved supplier list for this specific powder, a process that is expected to be completed this summer.
This “coarse” powder has a size fraction in the range of 45µm to 150µm and is typically used in additive manufacturing applications such as Electron Beam Melting (EBM) and Direct Energy Deposition (DED).
The qualification process, which involved extensive evaluations including quality management system review, work instructions review, and a rigorous on-site audit of the Company’s production facility, was successfully completed over the course of several years. The final step required the Company to submit samples of its powders for chemical and mechanical properties evaluation to confirm matching client specifications.
“Having our ‘coarse’ Ti64 powder accepted for addition to the approved supplier list of one of the largest aerospace companies in the world underscores the quality and reliability of our NexGen™ plasma atomization process, our post-processing process, our quality assurance management process, and our quality control system,” said Massimo Dattilo, Vice-President of PyroGenesis Additive. “This achievement is a testament to the hard work and dedication of our team over the past several years. We look forward to officially being added to the approved supplier list and leveraging this success.”
“This is a colossal achievement for PyroGenesis, particularly for the PyroGenesis Additive division,” said P. Peter Pascali, President and CEO of PyroGenesis. “While we have been confident from the outset, this notification from a global aerospace OEM is confirmation that our Board’s decision to re-enter the metal powder market, with a ground-up redesign in the form of the patented NexGen™ plasma atomization production system, was indeed the right one. This news is even more exciting when taken in the context of the recent announcement of a joint $415-million government/corporate aerospace initiative, to establish an aerospace innovation zone in Montreal, right in our backyard. Today’s announcement positions PyroGenesis well to also be included in one of the world’s foremost aerospace technology developments.”
PyroGenesis is the inventor of the original plasma atomization process and coined the term. The Company’s NexGen™ system is a patented upgrade to what is considered the gold standard process for the development of metal powder for additive manufacturing, also referred to as metal 3D printing.
“When we decided to re-enter the metal powder production market, we did so with a mandate from the Board to take the plasma atomization process to the next level via a redesigned system we named NexGen™,” added Mr. Dattilo. “Our cautious, methodical approach was built around our stated goal to produce some of the highest quality metal powders in the additive manufacturing industry. To help reach that goal, it was important for us to be assessed by the highest quality client under the toughest standards, and that is what we did. This process has been highly beneficial to us, contributing to the continued improvement of our metal powder production process and NexGen™ technology, as well as to the quality of our metal powder.”
“I am also happy to add that the Company’s ‘fine cut’ Ti64 metal powder is also in the qualification process with the same client, having taken a different qualification path due to changes to the powder specifications by the client during the approval process. We are confident that the ‘fine cut’ powder will also be approved by the client and added to the list of approved suppliers in due course,” noted Mr. Pascali.
The Company’s development of high quality titanium metal powders is part of the Company’s three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Metal powders are part of the Company’s Commodity Security & Optimization tier, where the recovery of viable metals, and the optimization of production to increase output, helps to maximize raw materials and improve the availability of critical minerals. Titanium has been identified as a critical mineral by the Canadian government.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. For more information, please visit: www.pyrogenesis.com.
Cautionary and Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in the Company’s latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect the Company. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws.
Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.
For further information please contact:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
E-mail: ir@pyrogenesis.com
RELATED LINK: http://www.pyrogenesis.com/
Bay Street News