PyroGenesis Signs Military Contract of US $950,000
PyroGenesis Canada Inc. (TSX VENTURE:PYR) (OTCQB:PYRNF), (the "Company" or "PyroGenesis") a company that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announces today that it has signed a Military contract for US $950,000 (approx. CDN $1.25MM), details of which will be more fully disclosed by the Company in a future press release once the specifics have been approved by the said client. Such approval is expected within the next 45 days.
Work on the following contract has already started and is expected to be completed within six (6) months.
Global Defense Spends (Air Force, Army and Navy) - 2012 to 2020
"This contract is a further testament to the level of confidence military organizations have in our experience and expertise," said P. Peter Pascali, President and CEO of PyroGenesis. "It further underscores our ability to perform to military standards which is serving us well as we expand into several other fast growing business segments. This is the first of 5 military contracts totaling over CDN $3.8MM, which are fully funded, and are now moving to the contract stage. We expect the balance of these contracts to be signed within the next 60 days."
Source : PyroGenesis Canada Inc. - view original press release
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