"We have achieved another major milestone as this is our second commercial plasma torch order with a major iron ore producer," said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. "In addition, Client B has advised that they would likely be ordering approximately 130 torches upon the successful installation of today's order. This is particularly interesting given that Client B does not have the largest need amongst iron ore pelletizers. For example, we estimate that Client A, who has over ten (10) plants, each possibly requiring up to 50 plasma torches, has a significantly higher need. The iron ore pelletization industry is under extreme pressure to reduce their carbon footprint and GHG emissions. As the industry is expected to grow at 3.0% pa from 2021 to 2027, iron ore pelletizers are looking for technology solutions to help them meet their carbon footprint and GHG targets. PyroGenesis' proprietary plasma torches which significantly reduce GHG emissions are an attractive solution as an environmentally friendly alternative to fossil fuel burners. As sales of PyroGenesis' plasma torches increase, PyroGenesis should also benefit from providing proprietary spare parts and services, which would generate significant high-margin, recurring revenue. We cannot overemphasize the opportunity this order presents. Although nothing is certain with respect to success and/or future contracts, and there are always risks as we move forward, we can now say without a doubt that we are on the right path and things are evolving in the right direction."
Stingrays fall into two general categories, bottom feeders and swimmers...um hungry
