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January 28th, 2014:

CNW: PyroGenesis signs $1.5M Agreement with Leading Appliance Recycler; 2014 Backlog now Exceeds 2013 Revenues by more than 50%

from the Canada Newswire:

PyroGenesis Canada Inc. today announced that it has signed an agreement with Canada’s leading end-of-life refrigerator and freezer recycler (“Client”) to provide them with additional equipment and services (including onsite optimization) for PyroGenesis’ patented SPARC technology. As part of this agreement, the Client will commercialize the SPARC technology on an exclusive basis within Canada.  This agreement, totalling up to $1.5M, includes several options for follow-on service contracts, all of which are expected to be executed within 2014.

PyroGenesis’ environmentally friendly and cost-effective Steam Plasma Arc (SPARC) Destruction System allows clients to safely destroy ozone-depleting substances (ODS) which can generate as much as 10,000 times more Green House Gases when compared to CO2 emissions. “The successful introduction of this technology within Canada is the first step to expanding the commercialization of PyroGenesis’ patented SPARC technology on an international scale”, said Gillian Holcroft, Executive Vice President, Strategic Alliances for PyroGenesis.

As previously reported, PyroGenesis’ SPARC technology achieved an unprecedented 10x greater destruction efficiency as compared to current requirements. Conservative estimates show that there are at least 25,000 tons per year of ODS that require destruction. This represents over $100 million of business potential to PyroGenesis with no apparent competition at these destruction efficiencies.

“Our Client intends to incorporate PyroGenesis’ SPARC technology into its existing appliance recycling business. As part of this Agreement, PyroGenesis will also be the exclusive supplier of after-sales service and support. The operation of PyroGenesis’ patented SPARC technology at the Client’s new industrial facility will demonstrate to the world the environmental and economic benefits of safe and effective ODS destruction”, said Gillian Holcroft, Executive Vice President, Strategic Alliances for PyroGenesis.

“With this agreement in place, and with only one week into the New Year, PyroGenesis’ 2014 backlog already exceeds its 2013 revenues by more than 50% while maintaining our recently improved gross margins, as reflected in our most recent Q3  financial results and MD&A”, said P. Peter Pascali, President and Chief Executive Officer of PyroGenesis. “Our continued success with traditional market sectors, combined with our penetration into key markets such as Oil & Gas and Mining & Metallurgy, is yielding significant results, and we expect this trend to continue into the foreseeable future.”

7 Jan 2014

edieWaste: Private equity firm backs Impetus Waste Management MBO

by Liz Gyekye of edieWaste:

Private equity specialist Agilitas has announced that it has invested in the management buyout of Impetus Waste Management.

Agilitas has not disclosed the amount it invested in the MBO.

Impetus was founded in 2003 and is based in Stockton-on-Tees. It specialises in the disposal of commercial, domestic and hazardous waste. It handles more than 500,000 tonnes of commercial, industrial and municipal waste annually. The company has waste transfer stations in Wallsend and Washington, and landfill sites in Cowpen Bewley and Teesport.

As part of the Impetus’ strategy for diversion away from landfills, the company has recently signed a 20-year agreement to supply waste to renewable energy specialist Air Products.

Air Products will construct and operate an advanced gasification energy-from-waste plant in Teeside. Impetus will build a new waste transfer station adjacent to the Air Products plant, which will be capable of processing 600,000 tonnes of waste per annum.

The plant is expected to produce electricity to power up to 50,000 homes. Longer term, this plant would have the potential to generate a renewable source of hydrogen for commercial use, for example to fuel public transport. The facility is expected to enter commercial operation at some point this year.

Commenting on the announcement, Impetus managing director Richard Lord said: “With landfill sites in the north east likely to be full by the end of the decade, it is vital to find a new approach and I am delighted to be working with Agilitas in the development of a new defensible green business.”

Agilitas founding partner Martin Calderbank added: “Impetus is an organisation at the crossroads of transformational change and we see huge opportunities in helping the management team develop their business in waste to energy.”

Torbjorn Midsem, partner at Agilitas and joining Martin Calderbank on the Board of Impetus, added: “This investment enables Impetus to seize opportunities created by two major trends: the need for new solutions for waste, and the need for new sources of energy.”

27 Jan 2014