MONTREAL, Nov. 13, 2013 /PRNewswire/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "Company") (TSX-V: PYR), an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products, today announced that its state-of-the-art, Steam Plasma Arc (SPARC) Destruction System for Ozone Depleting Substances (ODS) achieved a 10x greater Destruction Efficiency as compared to the current requirement of 99.9999%. In addition the SPARC easily met all other environmental regulations while operating at full commercial capacity in an industrial setting.
The environmentally friendly and cost effective SPARC allows PyroGenesis' client to safely destroy ozone depleting substances, specifically halocarbons, at its Laval-based appliance dismantling and recycling plant. Presently, halocarbons extracted during the recycling process are shipped to the U.S. for disposal at significant costs. Of note, certain ODS's generate 10,000 times more Green House Gases when compared to CO2 emissions; therefore their safe destruction is critical.
"Because ODS's are acknowledged to be some of the most difficult substances to destroy, the ability to achieve over 99.9999% destruction is a key milestone and puts PyroGenesis ahead of the curve in an increasingly regulated industry. The use of a steam plasma torch allows for increased destruction capabilities and now enables PyroGenesis to efficiently and safely destroy an array of other hazardous "difficult to manage" chemicals", said Gillian Holcroft, Executive Vice President, Strategic Alliances for PyroGenesis.
"With our commercial scale SPARC technology having far exceeded the performance requirements, we are now positioned to promote this technology on a global basis. Conservative estimates show that there are at least 25,000 tons per year of ODS that require destruction. This represents over $100 million of business potential to PyroGenesis with no apparent competition at these destruction efficiencies. This success once again underscores PyroGenesis' ability to provide its clients with cost effective and environmentally friendly solutions", said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis
About PyroGenesis Canada Inc. (www.pyrogenesis.com)
PyroGenesis Canada is an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products. PyroGenesis' proprietary plasma technologies utilize the intense energy of plasma to gasify and vitrify virtually any type of waste without producing hazardous by-products. PyroGenesis' patented gasification and vitrification technology is different from incineration because it produces a clean synthetic gas from waste, which can be used for power generation. PyroGenesis' technology can also turn waste into a glassy rock that can be utilized as construction material. PyroGenesis has marquee defense industry and civilian customers that are using its technology in marine and land-based applications.
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. 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.
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SOURCE PyroGenesis Canada Inc.