PyroGenesis Canada Inc, a high-tech company that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, has signed a non-disclosure agreement (“NDA”) with Rolls-Royce plc (“RR plc”).
The purpose of the NDA is to encompass the evaluation and discussion of business opportunities, including proposal or offer generation, submission and evaluation, for the provision of providing powders to R-R plc.
“We are very happy to be in discussions with Rolls Royce and look forward, now that the NDA has been signed, to have more substantive discussions on the production of powder for Rolls Royce,” said P. Peter Pascali, President and CEO of PyroGenesis.
“I must caution readers however, not to draw any premature conclusions from this announcement. Though it does signal the interest in our product, and that the interest comes from a very discerning, demanding, and sophisticated party, we are still at the very preliminary stages and there is no guarantee that anything, of any commercial value, will materialize form these efforts.”
PyroGenesis is the inventor of Plasma Atomization – a plasma-based process that produces small, spherical, metal powders for the Additive Manufacturing (“AM”) industry, particularly 3D printing, and for which has become a gold standard.
The Company recently announced the successful completion of the ramp-up of its first (1st) plasma atomization system since announcing, in 2016, that it would become a supplier of powders to the AM industry. During ramp-up, the Company not only received several sample orders, but also developed new Intellectual Property which effectively allowed to produce very narrow particle size distributions, at higher production rates, with little-to-no waste. The Company feels that this breakthrough could be even more game changing than its original Plasma Atomization patent.
Separately, the Company announces today that, further to a subsequent event reviewed in the Q3-2016 Management Discussion and Analysis, wherein it was noted that a director had refused 2,000,000 options at $0.18 per share, the Board of Directors, in accordance with its Stock Option Plan, has approved the grant of up to 2,400,000 incentive stock options (each an “Option”) to this same director, also President and CEO of the Company, to purchase up to an aggregate of 2,400,000 Common Shares of the Company, at a price of $0.58 per share. The Options will be exercisable for a period of five (5) years, commencing on the date of the grant. The grant remains subject to regulatory and Exchange approval.