nobahamas schreef op 4 juni 2019 20:02:
(TSX-V: PYR) (OTCQB: PYRNF) (the “Company” or “PyroGenesis”) that designs,
develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch
products, announces today that it has signed a contract for CDN$8,260,000 with HPQ Silicon Resources
Inc., formally Uragold Bay Resources Inc. (the “Client” or “HPQ”), to provide a 200 metric tonne (MT) per
year PUREVAPTM pilot system to produce silicon metal directly from quartz (the “Contract”).
PyroGenesis has already received over CDN$1,000,000, or more than 12% of the value of the Contract..
This Contract is for the design, fabrication, assembly, commissioning and testing of a 200 MT per year
PUREVAPTM pilot system (the “System”). The design, fabrication and assembly of the System is expected
to take twelve (12) to sixteen (16) months, after which time the System will undergo a commissioning
phase expected to last an additional two (2) months, with a final testing period expected to last ten (10)
months. The System will initially be installed at PyroGenesis’ facility in Montreal, Canada, and upon
completion of the testing period, the System will be relocated to a permanent production site, to be
chosen by the Client.
As part of the terms of the Contract, the Client will acquire the intellectual property rights to the
PUREVAP™ process as it relates exclusively to the production of silicon metal from quartz. PyroGenesis
will retain a royalty-free, exclusive, irrevocable, worldwide license to use the System for all other
purposes, other than the production of silicon metal from quartz. PyroGenesis will retain all royalty
payments owed by the Client under the previously disclosed development and exclusivity agreement
signed with the Client for the development of the PUREVAPTM process, which payments represent 10%
of the Client’s sales, with set minimums, but with royalty payments being waived for 2017.
As previously disclosed, PyroGenesis was first engaged by the Client in February 2015 to demonstrate,
on a laboratory scale, that its one-step proprietary PUREVAPTM process could produce high purity silicon
metal from quartz in just one step.
It was on the successful results of this testing that the present Contract with HPQ was signed
Q. PyroGenesis is a shareholder of HPQ, isn’t it?
A. Yes, we are. We currently hold over 5 million common shares and over 3 million warrants which are
reflected on our balance sheet.www.pyrogenesis.com/wp-content/upload...www.pyrogenesis.com/wp-content/upload...