Signature of a Three-party MOU on the Commercialization of Novacium’s Hydrogen Production System

by Team HPQ

MONTREAL, Canada — HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: O08), a technology company specializing in green engineering of silica and silicon-based materials is pleased to announce that HPQ and its Lyon-based affiliate, Novacium SAS, have signed a three-party memorandum of understanding (MOU) with LN INNOV’ SAS of Toulouse, France.

LN INNOV’ is a French networking company with a strong presence in various sectors, including Defense.

Leveraging its extensive network, LN INNOV’ aims to streamline access to innovative energy projects like the one presented by Novacium and HPQ. Their goal is to connect key industry stakeholders and expedite the transition of innovative projects from the research and development phase to commercialization.

“France has set the goal of becoming the world leader in green hydrogen, considered an energy carrier that will play a key role in achieving carbon neutrality by 2050. Novacium’s new hydrogen production system will help meet these objectives,” said Mrs. Nathalie MAZEAU, LN INNOV’ CEO. “With its experience in autonomous energy systems, LN INNOV’ wishes to democratize this technology through its simplified use and logistics, essential markers for its success.”

The goal of this three-party agreement is to harness LN INNOV’s expertise and introduce Novacium’s new, environmentally friendly high-pressure hydrogen production system via hydrolysis (as detailed in the September 7, 2023, press release) to French defense industry companies.

LN INNOV’ has already arranged for Novacium to be invited to present its innovative hydrogen solution at the next Energy Working Group (EWG) meeting of the “Groupement des Industries Françaises de Défense et de Sécurité Terrestre et Aéroterrestre” (GICAT), scheduled for the last week of September 2023.

“Novacium’s hydrogen production system stands out for its capacity to re-imagine hydrogen production, simplifying it while ensuring safety and minimizing transportation requirements,” said Mr. Bernard Tourillon, President and CEO of NOVACIUM SAS and HPQ Silicon Inc. “This innovation holds significant promise for hydrogen’s role as a clean and secure energy source in diverse industrial and military applications. Being invited to present our solution to such a grouping represents a significant opportunity, which we hope will open the doors to important future collaborations with manufacturers.”

The MOU, signed on May 15, 2023, designates LN INNOV’ as the exclusive French representative for a 1kW version of the hydrogen system.

Novacium is green technology startup based in Lyon, France started in Q3 2022. It is the result of a partnership between three of France’s leading research engineers, Mr. Jed KRAIEM PhD, Novacium’s Chief Operating Officer (“COO”), Mr. Oleksiy NICHIPORUK PhD, Novacium’s Chief Technical Officer (“CTO”), and Mr. Julien DEGOULANGE PhD, Novacium’s Chief Innovation Officer (“CIO”), who wanted to start a new Research and Development company to develop their own technology in high added value fields connected to renewable energy, and HPQ Silicon Inc, a Canadian company, looking to expand the depth and reach of technical team in order to develop its silicon and new renewable energy projects.

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.