MONTREAL, Canada, August 10th, 2022 — HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQX :HPQFF) (FRA: O08), an innovative silicon solutions and technology development company, would like to update shareholders on progress made to date by technology provider, PyroGenesis Canada Inc. (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), during the ongoing PUREVAP™ Quartz Reduction Reactor (QRR) pilot plant Research and Development phase.
HPQ GEN3 PUREVAP™ QRR PILOT PLANT R&D TESTING PROGRAM ADVANCING ON SCHEDULE
The GEN3 PUREVAP™ QRR Pilot plant is a first-of-its-kind, state-of-the-art prototype comprised of multiple systems that must operate under harsh conditions and extremely high temperatures. All independent systems have been tested and are fully functional. The final stage of integration is now underway.
Therefore, PyroGenesis is implementing a meticulous approach to move the GEN3 system from functional to operational. Commencing in June 2022 and scheduled to last up to twelve (12) months, the operational development phase can be further broken down into the following milestones:
- Complete system integration validation, about a quarter (1/4) of time is allocated to this phase,
- Reactor startup, about one-twelfth (1/12) of time is allocated to this phase,
- Four (4) process improvement tests, about one-sixth (1/6) of time is allocated to this phase, and
- Operating the GEN3 QRR on a continuous, non-stop production basis during the remaining time.
As with all R&D projects, and particularly with a new process technology, the timeline is subject to change. Pyrogenesis is confident that the program will allow HPQ to validate and quantify the previously completed GEN1 and GEN2 PUREVAP™ QRR testing phase results:
- Produce silicon material of higher purity than any traditional processes, in a single step1,
- That it can do so from raw material sources without the need for extremely pure feedstock required by conventional processes,
- That it only requires 4.5 MT of raw material to make 1 MT of Silicon versus the 6 MT required by conventional processes,
- That it can do so at a lower cost advantage versus all traditional Silicon producers.
Furthermore, once process improvement tests start (see point 3 above), HPQ will commence:
- Using the material for downstream testing and production of more HPQ high-value-add products,
- Providing samples to potential off-takers to allow product customization,
- Planning the deployment of commercial-scale production systems (PUREVAP™ QRR 4.0) capable of producing 2,500 tonnes per year of high purity silicon material.
“The PUREVAP™ GEN3 QRR pilot plant is about to open up opportunities for HPQ Silicon that we only dreamed of when we started our first GEN1 QRR tests in 2016. Our GEN1 and GEN2 tests demonstrated that we were on the right path to disrupting Silicon manufacturing, an industry that still relies on a traditional process developed in 1899 to make silicon. With the Pilot Plant, we intend to validate our disruptive potential,” said Mr. Bernard Tourillon, President and CEO of HPQ Silicon Inc. “Demand for traditional silicon is estimated to exceed 3.8 million tonnes by 20253. This represents a massive addressable market worth anywhere between over US $ 10 billion based on historical average selling price for 5.5.3 Si (98.5% Si) of US$2,600 per Tonne, to over US$ 38 billion based on the average spot price for 5.5.3 Si of US$10,000 per Tonne obtained during Q4 2021 and Q1 20224. These numbers do not include demand that is about to come online for high purity silicon from the battery and high-performance material companies just as bottlenecks; we had foreseen are now occurring in the silicon supply chain.”
Mr. Tourillon further stated, “With ESG principles playing an active role in materials sourcing, and recent geopolitical unrest emphasizing the need for stable trade partners and security of supply; global corporations are becoming more aware of the difficulties in securing the ESG compliant Silicon needed to meet their renewable energy goals. The reality of chronic underinvestment in new technologies combined with the offshoring of Silicon production capacity, is creating massive opportunities for HPQ and its PUREVAP™ QRR patented process. HPQ is the only company to bring to market a new process for making Silicon that is perfectly suited to the new demands and realities of the Silicon market.”
HPQ Silicon is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer. With the support of world-class technology partners PyroGenesis Canada and NOVACIUM SAS, the company is developing new green processes crucial to make the critical materials needed to reach net zero emissions.
