📋 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 is pleased to announce today that further to its press release dated June 7th 2021 it has entered into an agreement with an existing client the Client to purchase the first of three 10000 TPY 10-Ton Drosrite systems the Contract. The Contract is for US 3 Million Approximately CA4 Million. The Clients name shall remain anonymous for competitive and confidential reasons. The execution of this Contract follows the receipt of a Letter of Intent LOI from the existing Client on June 07 2021 in which the Client expressed its intention to purchase three 10-ton systems to address an increase in their overall dross processing capacity. The Client is expanding Expansion its aluminum processing facilities the Facility and as such expects to process an additional 30000 tonsyr of dross. It is expected that the Facility will be operational in April 2022. PyroGenesis expects to deliver the first system of the Expansion within 6-8 months of receipt of the down payment. The purchase order also confirms purchasing the second system at the same price as the first upon the successful startup of the Clients Facility and having the Facility meet the specific internal project performancequality requirements of the Expansion. The Expansion has different performancequality requirements than the Facility. The price and timing of the third system has yet to be quantified. The Client has not shared with the Company their timeline to confirm the Expansions performancerequirements. This purchase order is further validation of the success we are having in introducing our environmental technologies within the aluminum industry said Mr. P. Peter Pascali CEO and Chair of PyroGenesis. PyroGenesis Drosrite offering enables smelters to not only operate more economically but also to concurrently reduce their GHGs emissions at the same time. With the receipt of the purchase order we now have thirteen commercial Drosrite systems either in full operation delivered or in the process of being delivered. Once all systems are fully operational we expect to generate recurring revenue from ongoing maintenance and spare parts contracts. PyroGenesis Drosrite system is a salt-free cost-effective sustainable process for maximizing metal recovery from dross a waste generated in the metallurgical industry. It offers the aluminum industry an economically and environmentally sound solution to processing their dross a waste stream containing valuable metal eliminating landfill while at the same time contributing to reducing GHG emissions. PyroGenesis process avoids costly loss of metal while reducing a smelters carbon footprint and energy consumption providing an impressive return on investment
