MONTREAL, Canada, Nov. 29, 2021 — HPQ Silicon Resources Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (FWB: UGE) (OTCQX :HPQFF), an innovative silicon solutions and technology development company, is pleased to inform shareholders that the United States Patent and Trademark Office has issued a notice of allowance to HPQ SILICON RESOURCES INC regarding the patent application titled “SILICA TO HIGH PURITY SILICON PRODUCTION PROCESS”, and that HPQ patent agent as paid the required fees, the final step before the patent is official filed online.
GETTING US PATENT PROTECTION FOR OUR PUREVAP™ QRR PROCESS: A BIG MILESTONE REACHED
The US patent covers the PUREVAP™ QRR innovative process, which permits the one-step transformation of quartz (SiO2) into high purity silicon metal (from 99.5% to 99.99% Si) at reduced costs, energy input, and carbon footprint. This game-changing advantage means that the PUREVAP™ QRR process not only produces a higher purity silicon material than traditional processes, but it does not require the extremely pure feedstock needed by conventional processes.
In fact, the process only requires 4.5 MT of raw material to make 1 MT of Silicon, versus the 6 MT required by conventional processes, a 25% reduction which potentially allows a 20% cash cost advantage versus the lowest cost traditional Silicon producer1.
Furthermore, as part of our ongoing strategy of protecting and strengthening the PUREVAP™ Intellectual Property Portfolio, a second patent application, focusing on a new and novel process was filed in 2019 and is presently advancing through the process2.
“HPQ has been at the forefront of Low-Cost Green Silicon innovation developments since 2015, and getting this U.S. patent approval, combined with the ongoing commissioning of the GEN3 PUREVAP™ QRR pilot plant, has occurred at an opportune time, as demand continues to rise and bottlenecks we had foreseen are now occurring in the silicon supply chain. With ESG principles playing an active role in materials sourcing, the world is more aware of the difficulty of securing the ESG compliant Silicon needed to meet its renewable energy goals. The reality of chronic underinvestment in new technologies combined with the offshoring of Silicon production capacity, has created a massive opportunity for HPQ and its PUREVAP™ QRR patented process, as we are the only company to bring to market a new process to make Silicon that is perfectly suited to the new demands and realities of the Silicon market,” said Mr. Bernard Tourillon, President and CEO of HPQ Silicon.
Si MARKET DEFICIT AT 92,000 MT, PRICES SOARING, NEW GREENFIELD DEVELOPMENTS NEEDED3
Recent market events are focussing attention on the fact that Silicon (Si), also known as silicon metal, is one of today’s key strategic energy metals needed to meet the goal of decarbonizing the economy by 2050.
High Purity Silicon (2N+) is in very high demand due to the underlying needs for Silicon as feedstock for Polysilicon (Solar and Electronics), the emerging Batteries sectors, and the more typical industrial Silicone applications, at a time when capacity is simply not available to meet demand.
This is a result of several of the old energy-intensive plants, mothballed during the Covid pandemic, being not economically or environmentally viable to return online. New and efficient greenfield projects will be needed to meet demand, and the PUREVAP™ QRR technology is well-positioned to eventually become the industry’s option of choice.
Other Corporate news: Modification to the Stock Option Plan
The Board of Directors has approved the modification of the total number of shares that may be issued pursuant to its stock option plan, increasing it by 17,500,000 shares from 4,500,000 shares to 22,000,000 shares and, as a result, the consolidation of its current stock option plan into the new 2021 stock option plan.
The maximum number of common of shares that may be issued under the plan shall be equivalent to less than 10% of the issued and outstanding common shares of the Corporation. The modification and new 2021 stock option plan is subject to regulatory approval
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.