2023-08-01 09:09:02 ET
PyroGenesis Canada ( NASDAQ: PYR ) receives a contract valued at ~$4.13M ($3.13M) from a U.S. corporation. The name of the Client will remain anonymous for confidentiality reasons.
The client is home to some of the most renowned scientists in the world, who collectively have contributed to a variety of landmark achievements in US history, especially in aeronautics.
The client regularly serves as a prime contractor for the U.S. government as well as for public and private customers in the aeronautics and related industries.
The contract is for a 4.5 MW plasma torch system and includes a 20% upfront payment plus an additional 15% payment once the initial technical drawings are delivered, which is expected to be completed in approximately one month.
Due to confidentiality requirements, the specific purpose and application of PyroGenesis’ proprietary plasma torch system delivered under this agreement cannot be disclosed.
For further details see:
PyroGenesis secures $4.1M contract for 4.5MW plasma torch system with aeronautics and defense client