Ms. Rodayna Kafal reports
PYROGENESIS SIGNS NON-DISCLOSURE AGREEMENT WITH ROLLS-ROYCE PLC FOR ADDITIVE MANUFACTURING POWDERS
PyroGenesis Canada Inc. has signed a non-disclosure agreement with Rolls-Royce PLC.
The purpose of the NDA is to encompass the evaluation and discussion of business opportunities, including proposal or offer generation, submission and evaluation, for the provision of providing powders to Rolls-Royce.
"We are very happy to be in discussions with Rolls-Royce and look forward, now that the NDA has been signed, to have more substantive discussions on the production of powder for Rolls-Royce," said Peter Pascali, president and chief executive officer of PyroGenesis. "I must caution readers however, not to draw any premature conclusions from this announcement. Though it does signal the interest in our product, and that the interest comes from a very discerning, demanding and sophisticated party, we are still at the very preliminary stages and there is no guarantee that anything, of any commercial value, will materialize from these efforts."
PyroGenesis is the inventor of plasma atomization, a plasma-based process that produces small, spherical, metal powders for the additive manufacturing industry, particularly 3-D printing, and for which it has become a gold standard.
The company recently announced the successful completion of the ramp-up of its first plasma atomization system since announcing, in 2016, that it would become a supplier of powders to the AM industry. During ramp-up, the company not only received several sample orders, but also developed new intellectual property which effectively allowed it to produce very narrow particle size distributions at higher production rates with little to no waste. The company feels that this breakthrough could be even more game changing than its original plasma atomization patent.
Separately, the company announced today that, further to a subsequent event reviewed in the Q3-2016 management discussion and analysis, wherein it was noted that a director had refused an option to buy two million shares at 18 cents per share, the board of directors, in accordance with its stock option plan, has approved the grant of an option to buy up to 2.4 million shares to this same director, also president and chief executive officer of the company, to purchase up to an aggregate of 2.4 million common shares of the company, at a price of 58 cents per share. The options will be exercisable for a period of five years, commencing on the date of the grant. The grant remains subject to regulatory and exchange approval.
About PyroGenesis Canada Inc.
PyroGenesis Canada is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defence, metallurgical, mining, additive manufacturing (3-D printing), oil and gas, and environmental industries.
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