PyroGenesis signs $1.1MM contract with US tunneling company
The TT1 Torch is expected to be delivered in the second half of 2021, at which time it will then be tested.
MONTREAL — PyroGenesis Canada Inc., a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, announces that on Dec. 16, further to its press releases dated April 1st and 21st, 2020, it has signed an additional contract with a US based tunneling client for approx. $1.1MM. The total value of all contracts, including the one announced Dec. 16, entered into with the Client is in excess of $3.6MM. PyroGenesis has received $1.3MM to date under these contracts.
Based on these contracts, PyroGenesis will be designing, manufacturing, testing and supplying the Client with a plasma torch tailored specifically for tunneling. The TT1 Torch is expected to be delivered in the second half of 2021, at which time it will then be tested. The Client is committed to purchase exclusively from PyroGenesis, and the Company is committed to exclusively supply the Client with plasma torches and auxiliary equipment for tunneling applications.
PyroGenesis’ high-powered plasma torch will be used to replace traditional tunneling methods.
“This is the second announcement PyroGenesis has made in as many months which highlight advances in our plasma torch offerings,” said Mr. P Peter Pascali, CEO and Chair of PyroGenesis. “As you can see, not only are our torch offerings steadily moving forward, but are doing so in totally independent applications. This bodes well for the future and once again, underscores both the interest in, and versatility of, our torch offerings which at the same time are being recognized as effective environmental solutions.”