Canadian plasma gasification waste to energy technology developer, PyroGenesis, has signed a number of military contracts worth around $1.3 million.
The company said that it previously signed the first of five fully funded military contracts totaling approx. CDN$3.8 million had been signed back in July, and that it has now secured additional military contracts totaling over US$1.3 million (approx. CDN$1.7 million).
Additionally, the company said that a separate military contract for approximately US $1 million (CDN$1.3MM) is expected to be signed within the next 45 days, details of which it will release at that time.
According to P. Peter Pascali, president and CEO of PyroGenesis, the new contracts demonstrate the confidence shown by military organisations in the company’s technology.
"As a result, the Company has now signed, since June 30, 2016, contracts in excess of $11.2 million,” he said.
“With the signing of the additional contracts noted herein, this benchmark is expected to increase, within the next 45 days, to more than CDN$13 million, or over 2 x 2015 revenues," he noted.
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