Welcome!

News Feed Item

PyroGenesis Announces Receipt of CAN$1,372,000, Representing 2nd Progress Payment Under Contract with HPQ Silicon Resources Inc.

MONTREAL, QUEBEC -- (Marketwired) -- 01/12/17 -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE: PYR)(OTCQB: PYRNF), a clean-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has received the 2nd progress payment under a previously announced $8.3MM contract with HPQ Silicon Resources Inc. ("HPQ") to provide a 200 metric tonne (MT) per year PUREVAP™ pilot system (the "System") to produce silicon metal directly from quartz (the "Contract"). To date, PyroGenesis has received over CAN $2,862,000, or more than 34% of the value of the Contract.

As announced on August 2, 2016, the Contract is for the design, fabrication, assembly, commissioning and testing of the System. We currently are in the design, fabrication and assembly phase of which there remains approximately $2.6MM to be paid subject to certain milestones; $520,000 in payments are due during the commissioning phase, with an additional $2.3MM to be paid following various milestones during the testing phase.

To date, PyroGenesis has demonstrated that the System can:


--  Transform low purity quartz (97.5%) to high purity silicon; thereby
    defying standard methods(1);
--  Successfully produce 4N (99.99%) silicon from low purity quartz(2);
--  Remove aluminum, boron, calcium and phosphorous with consistently high
    efficiencies, between 67 and 97%. Of particular note, boron, which
    negatively impacts the electrical properties of photovoltaic solar
    systems, is one of the most difficult impurities to remove from
    silicon(3).

Management believes the PUREVAP™ will have a significant impact on the solar industry. We note that there seems to be significant commercial applications for the System, at lower purity levels, as well (i.e. above 99.9%).

"The PUREVAP™ has the potential to change the silicon making industry by turning a complex multiple step process into a single step process," said Pierre Carabin, Chief Technology Officer of PyroGenesis. "We are extremely pleased with the progress of the project to date and are looking forward to the completion of the System."

"These results are significant as the prevailing proposition suggests that the quartz purity level required to make high purity silicon metal is over 99.5% ( 4 ); however the PUREVAP™ has proven that to no longer be the case," said P. Peter Pascali, President and CEO of PyroGenesis. "We have demonstrated that the System can use quartz of a significantly lower purity level (97.5%) as feedstock and still produce high purity silicon metal. The implications of this are enormous when considering the potential commercial applications of the PUREVAP™ process. Conceivably, we can now take an inexpensive and abundant low purity quartz feedstock and transform it into a high value end product."

Figure 1 reflects the fundamental steps used in the conventional process, as compared to the PUREVAP™ process, to transform quartz into a solar grade silicon. To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/1082485_Fig_1.jpg

As you may note, in the conventional process, an electric arc furnace is used to transform the quartz into metallurgical grade silicon ("MGS"), which is then dissolved in hydrochloric acid and after several additional steps, solar grade silicon is formed. Separately, the now obsolete Timminco Ltd. attempted to replace the hydrochloric acid step with a rotary furnace, thereby, in theory, form solar grade silicon without the additional steps required in the conventional process; however the significant difference between both these processes and the PUREVAP™ is that the PUREVAP™ process starts directly with quartz, which is introduced into a vacuum arc furnace with no additional steps required. The PUREVAP™ process does not have to create a MGS; it is all done in just one step, creating significant advantages.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.


(1) See press release dated November 2, 2016 for further details.
(2) See press release dated November 29, 2016 for further details.
(3) See press release dated September 29, 2016 for further details.
(4) NI 43-101 Preliminary Economic Assessment on the Langis Silica Deposit
    and a Metallurgical Silicon Processing Plant in the Matapedia Region,
    Province of Quebec, Canada. PEA study prepared by Viridis.iQ, GmbH in
    accordance with the requirements of National Instrument 43-101;
    "Exploring for silica in Quebec", SIDEX, Online report,
    http://www.sidex.ca/wp-content/uploads/2015/02/Exploring-for-Silica-in-
    Quebec.pdf, February 2015, Accessed on November 1st 2016.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...