HPQ Silicon Resources Inc. (“HPQ” or the “Company”)
(TSX-V: HPQ) (OTCQX: HPQFF) (FWB: UGE), an
innovative silicon solutions and technology development company,
would like to inform shareholders that with the forthcoming start
of the final phase of the PUREVAP™ Quartz Reduction Reactor
(RRQ) Research and Development program, and the imminent completion
of the commissioning of the pilot system, time has arrived for the
ownership of the pilot system to be transferred to HPQ-Silicon from
PyroGenesis Canada Inc. (TSX: PYR) (NASDAQ: PYR).
The plan as always been to transfer the
ownership of the pilot systems from PyroGenesis to HPQ Silicon
prior to the reactor start, since under the terms of the July 2016
agreement, HPQ-Silicon, is the sole party entitled to claim R&D
credits associated with the PUREVAP™ QRR pilot plant system
operations.
Transferring the ownership required HPQ-Silicon
to purchase insurance to cover the $6.2 million 2022 replacement
cost, estimated by PyroGenesis, of HPQ PUREVAP™ QRR pilot
system. Based on PyroGenesis updated quotation, one
thing is very clear, prices have increased significantly since the
July 2016 signing of the agreement. HPQ paid, as per the 2016
agreement, $4,240,000 for design, fabrication and commissioning the
pilot system. Current replacement cost is $6.2 million for the
fabrication and commissioning of a new pilot system.
HPQ CEO Bernard Tourillon commented: “It may
have taken time to get here, but the decision to enter early into a
long term and mutually beneficial relationship with PyroGenesis to
harness the potential of new silicon materials manufacturing will
soon come to fruition. 2022 and beyond are going to be years for
Silicon and our unique and innovative processes of manufacturing
and commercializing silicon and nanosilicon materials needed for an
ESG-demanding industrial landscape is one of our greatest strengths
going forward.”
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is a leader in the
design, development, manufacture and commercialization of advanced
plasma processes and sustainable solutions which reduce greenhouse
gases (GHG) and are economically attractive alternatives to
conventional “dirty” processes. PyroGenesis has created
proprietary, patented, and advanced plasma technologies that are
being vetted and adopted by multiple multibillion dollar industry
leaders in three massive markets: iron ore pelletization, aluminum,
waste management, and additive manufacturing. With a team of
experienced engineers, scientists and technicians working out of
its Montreal office, and its 3,800 m2 and 2,940 m2 R&D and
manufacturing facilities, PyroGenesis maintains its competitive
advantage by remaining at the forefront of technology development
and commercialization. The operations are ISO 9001:2015 and
AS9100D certified, having been ISO certified since 1997. For more
information, please visit: www.pyrogenesis.com
About HPQ Silicon ResourcesHPQ
Silicon Resources Inc. (TSX-V: HPQ) is a Quebec-based
innovative silicon solutions company that offers silica (SiO2) and
silicon (Si) based solutions, and is developing a unique portfolio
of high value-added silicon (Si) products sought after by battery
and electric vehicle manufacturers.
Silicon (Si), also known as silicon metal, is
one of today’s key strategic materials needed for the
decarbonization of the economy and the Renewable Energy Revolution
(“RER”). However, silicon does not exist in its pure state and must
be extracted from quartz (SiO2) in what has historically been a
capital and energy-intensive process.
With PyroGenesis Canada Inc. (TSX: PYR)
(NASDAQ: PYR), HPQ is developing:
-
the PUREVAP™ “Quartz Reduction
Reactors” (QRR), an innovative process (patent granted in
the United States and pending in other jurisdictions), which will
permit the one-step transformation of quartz (SiO2) into high
purity silicon (Si) at reduced costs, energy input, and carbon
footprint that will propagate its considerable renewable energy
potential.
-
Through its 100% owned subsidiary, HPQ NANO Silicon Powders Inc.,
the PUREVAP™ Nano Silicon Reactor
(NSiR) is a new proprietary process that
can use material produced by the QRR as feedstock, to make a wide
range of nano/micro spherical powders of different sizes and
nanowires.
-
Through its second 100% owned subsidiary, HPQ Silica POLVERE Inc.,
HPQ is developing a new plasma-based process that will allows a
direct Quartz to Fumed silica transformation, removing the usage of
hazardous chemical in the making of Fumed silica and eliminating
the Hydrogen Chloride Gas (HCI) associated with its
manufacturing.
HPQ is also a technology development company
interested in developing hydrogen-based ventures, that could be
complementary to the QRR efforts. Currently, HPQ is evaluating two
different approaches to reach this goal, those being:
-
Working with Swiss based company EBH2 Systems SAS as it pertains to
their proprietary process to manufacture Green Hydrogen via
electrolysis, and
-
Developing our own processes of making hydrogen via hydrolysis of
nanosilicon materials made by our PUREVAP™ (NSiR).
For more information, please visit HPQ Silicon
web site.
Disclaimers:The Corporation’s
interest in developing the PUREVAP™ QRR and any projected capital
or operating cost savings associated with its development should
not be construed as being related to the establishing the economic
viability or technical feasibility of any of the Company’s Quartz
Projects.
This press release contains certain
forward-looking statements, including, without limitation,
statements containing the words "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect", "in the process" and
other similar expressions which constitute "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking statements reflect the Company's current
expectation and assumptions and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially from those anticipated. These forward-looking statements
involve risks and uncertainties including, but not limited to, our
expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to
research and development, the impact of competitive products and
pricing, new product development, and uncertainties related to the
regulatory approval process. Such statements reflect the current
views of the Company with respect to future events and are subject
to certain risks and uncertainties and other risks detailed from
time-to-time in the Company's ongoing filings with the security’s
regulatory authorities, which filings can be found at
www.sedar.com. Actual results, events, and performance may differ
materially. Readers are cautioned not to place undue reliance on
these forward-looking statements. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements either as a result of new information, future events or
otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This News Release is available on the
company's CEO Verified Discussion Forum, a moderated social
media platform that enables civilized discussion and Q&A
between Management and Shareholders.
Source: HPQ Silicon Resources
Inc.For further information contact: Bernard J.
Tourillon, Chairman, President and CEO Tel +1 (514) 907-1011Patrick
Levasseur, Special Advisor to the CEO Tel: +1 (514) 262-9239Email:
Info@hpqsilicon.com
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