The order is for a non-military, land-based system, although the client itself was unnamed. The system is expected to be delivered in the second quarter of 2020.
The share price held at C$0.55 in Toronto and increased 1.5% to US$0.42 on OTC Markets.
The Montreal company’s system turns waste into a gaseous fuel called syngas that can be used to generate heat or electricity. The inorganic portion of the waste is transformed into a slag material that can be used in construction or jewelry making.
“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,” CEO Peter Pascali said. “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.”
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