📋 Tender Overview
PyroGenesis Canada Inc. a high-tech Company hereinafter referred to as the Company or PyroGenesis that designs develops manufactures and commercializes advanced plasma processes and sustainable solutions to reduce greenhouse gases GHGs announces today that it has signed a 273000 plasma torch contract with a European research center the Client whose name and origin will remain anonymous for confidentiality and competitive reasons. The contract valued at 189000 or approximately C273000 is for PyroGenesis to manufacture and deliver a 50-kW methane plasma torch which will be used by the Client to develop a process to convert hydrocarbons including methane a GHG into useful chemicals such as olefins e.g. ethylene propylene thereby significantly reducing GHGs. Olefins are widely used as base materials for many products including plastics detergents and adhesives. Ethylene C2H4 an olefinic chemical is the largest volume organic chemical produced globally and a basic building block for the chemistry industry. The majority of ethylene and propylene are produced from crude oil which consumes enormous amounts of energy1 and generates large amounts of CO2. 2 It is therefore crucial and urgent to replace the traditionally difficult expensive and inefficient processes that add GHGs to the atmosphere. This contract although small once again underscores our plasma torch expertise and the significant benefits of PyroGenesis offerings which specifically reduce GHGs and reinforces our ability to offer unique versatile and meaningful solutions that expand the addressable market opportunities for the Company said Mr. P. Peter Pascali CEO and President of PyroGenesis. This latest agreement not only supports our overall strategy to become a leading provider of greenhouse gas reduction processes but once again plants the seeds in a growing and untapped market. We could not be prouder of the fact that our plasma torches are consistently being selected by cutting-edge entities around the world. We look forward to expanding these relationships as a key element of our growth strategy.
