- Agreement confirms commercial potential of the Fumed Silica Reactor
MONTREAL, Canada — HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: O08), a technology company specializing in the green engineering of silica and silicon-based materials is pleased to announce that HPQ Silica Polvere Inc. (“HSPI”) has reached a major milestone concerning the commercialization of the Fumed Silica Reactor (“FSR”) process.
HSPI (which was a wholly owned subsidiary of HPQ Silicon Inc. when technology supplier PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY) (“PyroGenesis”) announced its intention to exercise its option to acquire a 50% stake in HSPI in May 2024) has signed today a letter of intent (LOI) with Evonik Corporation (Evonik), a global specialty chemicals company that manufactures a wide range of high-performance materials, including fumed silica.
“The conclusion of this LOI at this juncture in the development is a testament to the potential of the FSR technology to change fumed silica manufacturing,” stated Bernard Tourillon, President & CEO of HPQ Silicon and HPQ Silicon Polvere. “This LOI confirms industry interest in the technological and commercial potential of the FSR, and we are very proud to be leading this unique opportunity to complete the development of our low cost, low carbon footprint, commercially attractive fumed silica manufacturing process.”
“As I have often stated, PyroGenesis only commits to ideas that have both real and significant potential for successful commercialization,” said P. Peter Pascali, President and CEO of PyroGenesis. “While we are approached regularly by companies seeking a technology partner, we will only commit our engineering and technical resources to those whose ideas have the most upside. Rarer still is the commercial opportunity where we are willing to take a 50% ownership stake in the initiative, as we have with the fumed silica reactor process. This LOI with a company on the scale and reputation of Evonik helps to confirm both the reasoning behind that approach and the reality of the market potential for our fumed silica process.”
The objective of the LOI is for HSPI to collaborate with Evonik during the pilot scale phase to validate the ability of the FSR to produce low-cost low carbon material acceptable to Evonik’s specifications. This will be a scaling up of the process from HSPI’s first-generation samples which have already proven to satisfy the Evonik specifications.
“Regarding the collaboration on testing fumed silica material, HSPI can leverage the more than 80 years of experience in manufacturing and selling fumed silica materials that Evonik has and represents an incredible opportunity for HSPI as we work diligently to optimize our Fumed Silica Reactor ” added Mr. Tourillon.
Evonik as a leading producer of fumed silica and metal oxides continues to focus on next generation technologies that hold promise for improved sustainability and enhanced product performance that drive industry and societal transformation.
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.
