PyroGenesis Canada Inc (TSE:PYR) (NASDAQ:PYR) (FRA:8PY) announced that it has successfully installed roughly $1 million of plasma torch production equipment at its new 31,632-square-foot facility in Montreal.
“The company recently invested approximately $1 million in state-of-the-art production equipment, and we announce today its successful installation,” CEO Peter Pascali said in a statement. “This equipment has a wide range of capabilities and will significantly reduce the manufacturing time of our plasma torches. For example, parts that previously took four hours to manufacture will now take 15 minutes. PyroGenesis will produce parts faster and at lower cost, thereby reducing delivery times while increasing profitability.”
The company almost doubled its manufacturing footprint in March 2021 by leasing an additional 31,632 sq. ft in Montreal.
READ: PyroGenesis Canada begins commercial metal powder production after successful test run
Additionally, the company told investors that it plans to release first-quarter results before the opening bell on May 17.
PyroGenesis is a high-tech company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products.
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