HPQ CEO Explains How Project ENDURA Could Unlock US$20 Million for Battery Commercialization

In a new interview, HPQ CEO Bernard Tourillon discusses the company’s Project ENDURA initiative, explaining how a proposed independently financed North American battery business could accelerate commercialization while limiting dilution at the HPQ parent-company level.

During the interview, Bernard provides additional insights into the proposed agreement with Open Markets and the financial strategy behind the initiative:

✅ US$20 million financing target: The proposed financing would support battery commercialization, manufacturing capabilities, management recruitment, and working capital.

✅ 55% ownership and US$4.2 million consideration: HPQ expects to retain a majority equity interest in the proposed new company while receiving US$4.2 million in cash consideration, subject to the transaction’s completion.

✅ Protecting shareholder value: Bernard explains why HPQ is pursuing a separately financed structure rather than raising the required capital directly through additional HPQ share issuances.

✅ Dedicated leadership: The proposed structure would introduce an experienced management team focused on commercial execution, with Bernard serving as Chairman of the new company’s board.

By watching the interview, you’ll learn:

• Why HPQ chose this financing structure and how it could reduce dilution at the parent-company level.
• How the proposed US$20 million would be allocated, including planned investments in manufacturing capabilities.
• Why HPQ believes its battery business needs dedicated management and financing to advance beyond research and development.
• What the proposed transaction means for existing HPQ shareholders, including ownership, potential royalties, and the company’s other technology projects.
• What happens next, including the financing process, transaction milestones, and the potential for a future U.S. public listing.

Bernard also addresses shareholder questions about financing commitments, valuation, potential dilution, and the responsibilities of Open Markets.

The central message: Project ENDURA represents a proposed shift in how HPQ intends to finance and commercialize its battery technologies, with the goal of accessing growth capital while preserving HPQ’s interests in its broader technology portfolio.

The proposed financing remains unsecured, and the transaction is subject to definitive agreements and other conditions.