PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) announced it has secured an initial contract from a European engineering services firm working on the discovery and safe destruction of chemical warfare agents with the European Union valued at approximately C$360,000 (€250,000).
As part of a potential three-phase project, PyroGenesis will initially provide a lab-scale size plasma arc chemical warfare agent destruction system (PACWADS) aimed at identifying, extracting, and disposing of chemical munitions and chemical warfare agents in active marine passageways and corridors.
PyroGenesis’ PACWADS is a mobile destruction system that uses high-temperature electric plasma to eliminate a variety of dangerous chemical and biological warfare agents, including sarin, mustard gas, soman, and VX.
The mobile nature of the PACWADS is key for this project, as safe destruction at sea supports the project’s aims of protecting the marine environment and reducing potential further damage caused by transporting toxic chemicals to land for processing, PyroGenesis highlighted.
The second phase of the project will involve testing the system’s efficiency, performance and capacity.
PyroGenesis said the eventual goal is to develop a full-scale system once results from the lab-scale system have been reviewed.
“This important initiative will help maintain safe waters for marine transit and for the safe development of offshore projects such as wind farms that require contact with the seabed,” PyroGenesis CEO P. Peter Pascali said in a statement.
“Our clean plasma-based waste destruction systems have been proven both on land and at sea, most notably with the US Navy, where our systems are in use on the USS Gerald R. Ford, the largest aircraft carrier ever built, in addition to three additional systems which have already been purchased for installation on US aircraft carriers under development.”
The agreement includes a 45% upfront payment, with approximately C$160,000 (€112,500) already received by PyroGenesis.
PyroGenesis, 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 and are economically attractive alternatives to conventional “dirty” processes.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie