The Canadian Innovation Exchange (CIX) conducted a public investor day recently as part of its two-day forum held annually in Toronto. Of the Top 20 Canadian public technology companies chosen to participate a few stood out, including PyroGenesis Canada Inc. (TSXV: PYR).
This forum attracts the key players behind Canada’s innovative technology products and services to meet and learn from one another and encourage the development of innovative technology that will be an integral part of Canada’s economic growth. Of the Top 20 Canadian public technology companies chosen to participate a few stood out, including PyroGenesis Canada Inc. (TSXV: PYR).
PyroGenesis, a TSX Venture 50 clean-tech company, designs, develops, manufactures, and commercializes plasma torches. For those who don’t know what plasma is, imagine being able capture lightning and store it in a processing plant that is small enough to fit on an aircraft carrier. That’s what PyroGenesis does – heats up gas in excess of 10,000 degrees Celsius with the use of an electric current. At that heat level any waste simply evaporates, leaving no environmental footprint. And speaking of aircraft carriers, the U.S. Navy was one of PyroGenesis’ first clients. After all, U.S. warships don’t want to carry excess waste or risk having it leak into the ocean. As a result of PyroGenesis’ expertise with plasma processes, the Company has been able to apply its technological innovations to niche markets that have never had the opportunity to look at plasma as a solution before.
Peter Pascali, President and CEO of PyroGenesis Canada, was given an opportunity to speak to an audience at the CIX’s Investor Day. When asked by an expert investor panel whether or not it was difficult for PyroGenesis to maintain its growth and whether or not the Company’s margins would get squeezed, Mr. Pascali said, “What we’re doing at 35% or 40% margins with one-off systems, I can only imagine when buying 10 systems it would be much better in terms of purchasing power.”
On November 25, 2015, PyroGenesis Canada reported that its third-quarter revenue increased 12% to $1.4 million, while its order backlog as at November 25, 2015, stood at $16.0 million. Earlier this month, the Company also announced that it received an order for US$515,271 to, amongst other things, to begin the testing of a Tactical Mobile Plasma System used for the Destruction of Chemical Warfare Agents. PyroGenesis was first engaged by a multi-national military consortium to develop a first of its kind Tactical Mobile Plasma System to be used for the destruction of Chemical Warfare Agents, such as those being dealt with in Syria.
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About PyroGenesis Canada Inc.:
PyroGenesis Canada Inc., a TSX Venture 50® clean-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. The Company provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries.
Ubika Research has received compensation from PyroGenesis Canada to provide analyst research coverage.
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