PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred
to as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions which are geared to reduce greenhouse gases
(GHG), is pleased to announce that the Company’s Plasma Arc Waste
Destruction System (“PAWDS”) is in operation on the newly launched
USS Gerald R. Ford aircraft carrier that departed Naval Station
Norfolk on October 4, 2022 for its initial deployment. The ship –
the first of four carriers the US Navy have contracted to have the
PAWDS system on board – will spend the next two months in both the
Mediterranean Sea and the Atlantic Ocean as part of a
multi-national exercise with eight other countries, including
Canada and France, to prepare the crew for real-world scenarios.1
“The initial deployment of the USS Gerald R.
Ford with our PAWDS on board is truly a milestone for PyroGenesis,”
said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “To be
even a small part of the most technologically-advanced ship ever
built is immensely validating – for the Company, for the science
behind the project, and for the years of work by our team.”
The next aircraft carrier in the Gerald R. Ford
Class to utilize the PAWDS system will be the USS John F. Kennedy
which has been under design since 2009, and under construction
since 2011. The USS John F. Kennedy is scheduled for delivery to
the US Navy in June 2024. Of note, PyroGenesis has already
delivered the PAWDS system for this ship.
The payment announced today of approximately $1
million CAD (USD$729,000) is as a result of various inspection and
support milestones having been reached with respect to the dual
ship order for the USS Enterprise and USS Doris Miller, which the
Company is currently under contract for. PyroGenesis has been
contracted for a total of four systems, one for each of four
aircraft carriers. Two have been delivered (USS Gerald R. Ford and
USS John F. Kennedy), and two are currently under order (the USS
Enterprise and USS Doris Miller).
PAWDS is a compact all-electric waste management
system for combustible waste, designed for each of the first four
Ford-class aircraft carriers scheduled to be built – the first new
generation of carriers designed in 40 years. PAWDS eliminates more
than 400 pounds of diverse trash material per hour, including the
plastic that traditional ship waste systems could not destroy.
PAWDS reduces all the ship’s trash – plastic, paper, food, and wood
– to vapor, a key aspect, as without a waste destruction system of
this caliber, the ship would be forced to reduce operations,
returning to port to off-load trash.2
In addition to the contracts for the USS Gerald
R. Ford and USS John F. Kennedy, a further two-ship build contract
with the US Navy was awarded to the Company in 2020, for $11.5
million, for the ships USS Enterprise and USS Doris Miller.3 The
USS Enterprise began construction in 2017 with a future delivery
date of 2028; the USS Doris Miller will follow.
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a leader in the design, development, manufacture and
commercialization of advanced plasma processes and sustainable
solutions which reduce greenhouse gases (GHG) and are economically
attractive alternatives to conventional “dirty” processes.
PyroGenesis has created proprietary, patented and advanced plasma
technologies that are being vetted and adopted by multiple
multibillion dollar industry leaders in four massive markets: iron
ore pelletization, aluminum, waste management, and additive
manufacturing. With a team of experienced engineers, scientists and
technicians working out of its Montreal office, and its 3,800 m2
and 2,940 m2 manufacturing facilities, PyroGenesis maintains its
competitive advantage by remaining at the forefront of technology
development and commercialization. The operations are ISO 9001:2015
and AS9100D certified, having been ISO certified since 1997. 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 Corporation'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 Corporation with respect to future events and are
subject to certain risks and uncertainties and other risks detailed
from time-to-time in the Corporation's ongoing filings with the
securities regulatory authorities, which filings can be found at
www.sedar.com, or at www.sec.gov. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Corporation 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 Toronto Stock Exchange, its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) nor the NASDAQ Stock
Market, LLC accepts responsibility for the adequacy or accuracy of
this press release.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BD Phone: (514)
937-0002, E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com
___________________________1 US Navy’s latest and most advanced
aircraft carrier deploys for first time, by Ellie Kaufman and Oren
Liebermann, CNN. October 4, 2022
https://www.cnn.com/2022/10/04/politics/uss-gerald-ford-deploys
2 USS Gerald R. Ford’s (CVN 78) Lesser-Known, Trash Disposal
Technology, Plasma Arc Waste Destruction System, by Lt. Cmdr. Chris
Buchanan, March 11,
2021.https://scnewsltr.dodlive.mil/Latest-Issue/Article-Display/Article/2612544/uss-gerald-r-fords-cvn-78-lesser-known-trash-disposal-technology-plasma-arc-was/
3 PyroGenesis Signs $11.5MM Contract for US Navy’s Two Ship
Buildhttps://ir.pyrogenesis.com/news-releases/news-release-details/pyrogenesis-signs-115mm-contract-us-navys-two-ship-build
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