by • April 6, 2016 • No Comments
Montreal is soon to be home to a new createer of metal alloys for 3D printing. As PyroGenesis, a clean-tech company specializing in the producing and selling of plasma waste-to-energy processs and plasma torch products, spins off just about all of their 3D printing business (80%), a new company can be born—and is temporarily being referred to as 3DCo for the sake of the impending contract.
The Board of Directors for PyroGenesis has unanimously agreed that they can spin off this portion of their business into an independent publicly-traded company to have a additional formal name decided on at a later date. PyroGenesis is a TSX Venture company specializing in the Plasma Atomization Process, or PAP, that is utilized to turn it into flowing, spherical metallic powders. The process is utilized to create metal powders of titanium, niobium, nitinol, aluminum, and other reactive metals and alloys at rates of up to 150 kilograms per day. We have been upcoming PyroGenesis for really a few time, and reported on their plans last year to file a patent for their 3D printable-bodied powder production process.
PyroGenesis can be transferring a excellent deal of its processes and technology over to the new 3DCo. They can have rights to use the Montreal-headquartered company’s patented technology, as well as donate powder production processs and equipment under a global license. The deal sounds quite black and white in terms of the two entities staying incredibly connected while yet in addition serving as a tax-free transaction for shareholder purposes in Canada.
The company has noted too that much of this is yet being finalized, but over the upcoming four months shareholders can go on to own and to have control over all the issued and impressive shares of both companies, either directly or indirectly.
Whilst there is obviously a worthwhile transaction bringing place between the two companies, PyroGenesis can yet go on to obtain numerous benefits, by way of:
Supplying processs and equipment to 3DCo with traditional marginsProviding standard maintenance and technical assist services to 3DCo for every process purchased, for up to $750K per process per yearReceiving royalty payments of up to ten percent (10%) of powder production revenues of 3DCo
“Spinning off 3DCo can assist attract an investor base most suited to the company’s one-of-a-kind value proposition, particular business operations and financial characteristics, thereby maximizing shareholder value and placing it in a advantageous position to ramp up, generate revenues, and create strategic relationships/partners than had it remained part of PyroGenesis,” said Mr. Peter Pascali, President and CEO of PyroGenesis. “As such, 3DCo can be able-bodied to sharpen its strategic focus and provide flexibility to capitalize on the one-of-a-kind growth opportunities inside its market sector. At the same time, it can provide PyroGenesis with a source of repeat business and recurring revenues as well as an investment position in a vibrant public company.”
3DCo should be in production as its own commercial entity by the third quarter, and they see a 2nd process arriving online by the initially quarter of the upcoming year. The goal is for 3DCo to operate as a premier provider of 3D printing metal powders that are of high high end and promise high performance.
Thanks to PyroGenesis, 3DCo can indeed be offering a unsurpassed technology to their customers with new metallic powders that can allow them to do things they just may not previously. The process is flexible, easily modified, and can be created compatible for processing other metal wires and composites—another facet of its technology.
“Our plasma atomization process creates powders of the top purity, while being incredibly spherical, and having a quite narrow particle dimensions distribution, producing it ideally suited for the powder requirements of the expanding 3D printing industry,” said Mr. Pierre Carabin, Director of Engineering of PyroGenesis.
“Building on our history of providing such powders to the biomedical industry (since preceding 2004), combined with our createed expertise and understand how in metal powder production, our team of engineers have not long ago created worthwhile improvements to our current technology, laying down the groundwork for next success.”
Pyrogenesis Canada Inc. is already the world leader in create, createment and commercialization of high end plasma processes. They offer:
Engineering and making expertiseContract researchTurnkey process equipment for a wide range of industries
The company employs a team of engineers, scientists, and technicians who work in the Montreal headquarters. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF).
This current transaction is yet under review but is expected to be accomplished by the third quarter.
“Defining, focusing and seizing opportunities have described PyroGenesis of its inception,” said Mr. Pascali. “With the unanimous assist of PyroGenesis’ Board of Directors, we are now bringing the upcoming logical step and spinning-off additive making with its distinct and compelling opportunities, all the while improving PyroGenesis’ financial returns. The Board’s decision to approve such a transaction reflects PyroGenesis’ ongoing dedication to implement bold changes to donate sustainable-bodied growth and enhanced shareholder value.”
What do you ponder of this spinoff? Discuss in the PyroGenesis 3D Printing Spinoff forum over at 3DPB.com.
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by admin • November 28, 2016