PyroGenesis Canada skyrockets on titanium metal powder deal for 3D printing (NASDAQ:PYR)

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PyroGenesis Canada (NASDAQ:PYR) +29.9% in Tuesday's trading after saying it received an order to supply five metric tons of its plasma atomized titanium metal powders for 3D printing, which the company said is the first by-the-ton commercial order for powders produced using its NexGen plasma atomization system.

PyroGenesis (PYR) said the customer, an unnamed advanced materials company in the U.S., also placed a provisional order for an additional six metric tons of powders.

The company said the order will be completed at its Montreal plant, with most of the initial five tons to be shipped during Q2 and the rest before the end of Q3.

The order "represents our full entrance into the titanium metal powders marketplace," PyroGenesis (PYR) VP Massimo Dattilo said.

PyroGenesis Canada (PYR) last week received approval from Nasdaq for a 180-day extension to meet the exchange's listing requirement for a minimum $1 closing bid price.