PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF), which designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, has won an $11.5 million contract with the US Navy.
Under the contract, the company said it will provide its waste destruction technology for two systems -- one for each ship in the US Navy’s two-ship build.
In a statement, PyroGenesis said the contract includes a first payment of about $4.8 million. The project should be completed within 18 months, installed on the next Gerald R. Ford-class of US aircraft carriers -- the USS Enterprise (CVN-80) and the USS Doris Miller (CVN-81).
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With this additional contract in hand, the company said its resulting backlog is expected to be about $40 million.
“It is indeed an honor to supply our high-tech products to such a prestigious client as the US Navy,” said PyroGenesis CEO Peter Pascali.
“It speaks to our credibility as an innovator with a proven capability of delivering proprietary plasma processes to high value niche markets. Furthermore, it is also a testimony to the fact that PyroGenesis continues to develop commercial cutting-edge applications.”
The Montreal-based 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.
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