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PyroGenesis Canada Inc. a high-tech company, that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, announced that it has received a $3.64M purchase order for a non-military landbased waste treatment system (the System), together with the first payment. The Client and geographic area will remain confidential for competitive reasons. We expect to provide more details within the next two (2) months. Delivery is scheduled to be in Q2, 2020.
This sale is significant as it is the first non-military waste treatment System sold by PyroGenesis and signifies an important first step into this new market, said Mr. P. Peter Pascali, President and CEO of PyroGenesis.
We fully expect that this will be the first of many systems ordered by the Client who will benefit, upon reaching a certain milestone, from a limited territorial exclusivity. This contract, together with signed backlog, recently announced contract award, and the imminent US Navy contract for $13.5M, portends to a backlog of over $40M, which must be addressed within the next 18 months, come September.
This does not include the $35M of backlog in subsequent years. It is a very exciting time for the Company. Of note, PyroGenesis land-based waste System transforms waste to syngas, a gaseous fuel which can then be used to make electricity, heat, or fuels, as required by the end-user. Using PyroGenesis System, the inorganic fraction of the waste is converted into a glassy slag which is inert, non-toxic, and has been demonstrated to be suitable as a building material, and even jewelry.