Montreal, Quebec based plasma gasification waste to energy technology firm, PyroGenesis Canada, (TSX VENTURE:PYR) (OTCQB:PYRNF), has successfully completed the factory acceptance test of six plasma torches under its contract with an unnamed Asian client.
The $2.2 million contract encompasses the design, manufacture and delivery of a fully automated plasma torch system featuring eight torches for a waste to energy plant.
The company said that the testing was conducting at its facilities in Montreal in the presence of the client and provided for the completion of the second phase of the Contract.
PyroGenesis added that it has received full payment for this second phase of the contract, which includes the delivery of the remaining six plasma torches and accessory equipment, with shipment of the units expected by the end of the current month.
During the visit, PyroGenesis was asked to support the System start-up at its Client's plant in Asia and to supply additional spare parts and consumables. Furthermore, the client was said to have expressed an immediate need for three new multi-torch systems, with delivery expected as early as next year.
The company went on to highlight research conducted by BioEnergy Consult that suggested that the global market for biological and thermochemical waste to energy technologies is expected to reach $29.2 billion by 2022.
"With increased urbanisation in this part of the world, the need for sustainable waste management technologies is rapidly growing," commented P. Peter Pascali, president & CEO of PyroGenesis.
According to Pascali, the company’s previous efforts to meet the exact requirements of the US Navy enabled it to succeed in developing a robust, easy-to-operate plasma torch with an electrode life amongst some of the longest in the industry.
“This order and the anticipated re-orders from our Client are but a first step in this evolution," he concluded.
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