PyroGenesis signs $12.5M contract for powder production systems for 3D printing
Company's backlog now exceeds $20 million in contracts.
MONTREAL — PyroGenesis Canada Inc. has signed a contract with a major international manufacturer for ten plasma-based, powder production systems for 3D printing.
The contract is for the supply by PyroGenesis of ten of its metal powder production platforms over an 18-month period for a contract value of $12.5 million.
The customer’s name is being withheld for competitive reasons.
Pyrogenesis’ backlog now exceeds $20 million or the equivalent of approximately 350% of the company’s revenues in its previous fiscal year, all of which is expected to be completed by year end 2015.
According to World 3D Printing (Additive Manufacturing), a report issued by the Freedonia Group in December 2013, world demand for 3D printers, materials and software will rise 21% yearly to US$5 billion in 2017. This report also highlights faster growth projections for metals, as well as rapid gains in markets such as aerospace.
PyroGenesis Canada is a developer of advanced plasma processes as well as turnkey process equipment packages to the defence, metallurgical, mining, advanced materials, oil & gas, and environmental industries.