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PyroGenesis Canada makes gains on receiving first payment of $25M aluminum processing contract

PyroGenesis Canada Inc (CVE:PYR) (OTCMKTS:PYRNF) CEO Peter Pascali tells Proactive the Montreal-based company received the first payment of roughly C$1.4 million from its client Drosrite International LLC.

Pascali says the payment kicks off a deal which licenses PyroGenesis to manufacture and sell aluminum dross processing DROSRITE systems and technology to Saudi Arabia and other Middle Eastern countries.

Quick facts: PyroGenesis Canada Inc.

Price: 1.72 CAD

TSX-V:PYR
Market: TSX-V
Market Cap: $240.66 m
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