PyroGenesis Receives $2.8 Million Payment Under Existing Drosrite™ Contract with Saudi Client [Canadian Business Journal (Canada)]
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Source: Canadian Business Journal
MONTREAL, Nov. 26, 2024 (GLOBE NEWSWIRE) — PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, announces the receipt of a US$2 million (CA$2.8 million) payment representing a portion of an outstanding receivable under PyroGenesis’ existing CA$25+ million Drosrite™ contract with Radian Oil and Gas Services Company.“The payment announced today is made in accordance with a payment schedule that has been revised over time to better align options to the pressures with the end-client’s operating cash flows created by, amongst other things, increased business opportunities. Our patience has established a level of trust between our client, their new partner, and ourselves which speaks volumes as we expand our offerings in the region, a r
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