PyroGenesis Canada Inc announced that it has signed a plasma torch contract with a European research center valued at C$273,000.
The company said it will manufacture and deliver a 50-kilowatt methane plasma torch, which will be used by the client to develop a process to convert hydrocarbons, including methane, into useful chemicals such as olefins (such as ethylene, propylene), thereby significantly reducing greenhouse gases (GHGs).
“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,” PyroGenesis Canada CEO Peter Pascali said in a statement.
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“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,” Pascali added.
PyroGenesis noted that the European research center’s name and origin will remain anonymous for confidentiality and competitive reasons.
Montreal-based PyroGenesis Canada designs, develops, manufactures, and commercializes plasma atomized metal powder, environmentally friendly plasma waste-to-energy systems, and clean plasma torch products.
Contact Sean at sean@proactiveinvestors.com