Tech seems to be where it’s at these days, and a Montreal-based company appears to be cashing in on the renewed interest in such innovative firms.
Monday, PyroGenesis Canada Inc. (TSX-Venture:PYR) announced that a potential contract is on the way, which could offer over $20 million in first-year revenues.
PyroGenesis designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products.
Given the buy-the-rumour atmosphere in which its stock is trading, PyroGenesis CEO Peter Pascali was all abuzz, saying that “if awarded, as we anticipate, this …would be the single largest contract in the company’s history, representing over three times last year’s revenues, and addresses the need of a very significant entity. Obviously, this Contract would also make PyroGenesis profitable.”
The possible deal comes in addition to the approximately $12 million in revenues that will be generated from the two-build order for Plasma Waste Destruction Systems for the U.S. Navy, which could translate into combined revenues well in excess of $30 million over the next 12-18 months.
Shares of PYR were on fire as the clock approached noon EDT on Monday, garnering five cents, or 8.2%, to 66 cents, on more than 143,000 shares.
