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Ownership of the PUREVAP ™ Quartz Reduction Reactor Pilot System transferred to HPQ Silicon

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Insurance to cover the secured $ 6.2 million replacement costs

Montreal, May 19, 2022 (GLOBE NEWSWIRE) — HPQ Silicon Resource Co., Ltd. (“HPQ” or “Company”) (TSX-V: HPQ). (OTCQX: HPQFF) (FWB: UGE), Innovative Silicon Solutions and Technology Development Company, to shareholders, with the start of the next final stage PUREVAP ™ Quartz Reduction Reactor (RRQ) It’s time for the R & D program, and the imminent completion of the pilot system test run, to transfer ownership of the pilot system to HPQ-Silicon. PyroGenesis Canada Inc.
((((TSX: PYR). ((((NASDAQ: PYR)...

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Under the terms of the July 2016 agreement, HPQ-Silicon PUREVAP ™ QRR Operation of pilot plant system.

To transfer ownership, HPQ-Silicon had to purchase insurance to cover the $ 6.2 million replacement cost estimated by HPQ’s PyroGenesis in 2022. PUREVAP ™ QRR Pilot system.. Based on PyroGenesis’s updated quote, there is one very clear thing. That is, the price has risen significantly since the contract was signed in July 2016. HPQ paid $ 4,240,000 to design, manufacture and test run the pilot system in accordance with the 2016 agreement. The current replacement cost for the production and commissioning of the new pilot system is $ 6.2 million.

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Bernard Tourillon, CEO of HPQ, commented: After 2022, it will take years for Silicon and our unique and innovative process. Manufacturing and Commercialization Silicon and nanosilicon materials required for The industrial environment that requires ESG is one of our greatest strengths in the future. “

About PyroGenesis Canada Inc.
High-tech company PyroGenesis Canada Inc. designs, develops and manufactures advanced plasma processes and sustainable solutions that reduce greenhouse gases (GHG) and are an economically attractive alternative to traditional “dirty” processes. , And a leader in commercialization. PyroGenesis is a unique patented altitude scrutinized and adopted by multi-billion dollar industry leaders in three large markets: iron ore pelleting, aluminum, waste management and additive manufacturing. Produced a unique plasma technology. With a team of experienced engineers, scientists and engineers working in the Montreal office, with 3,800m2 and 2,940m2 R & D and manufacturing facilities, Pyrogenesis remains at the forefront of technology development and commercialization. We maintain a competitive advantage. The operation is ISO9001: 2015 and AS9100D certified and has been ISO certified since 1997. For more information, please visit www.pyrogenesis.com.

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About HPQ Silicon Resources
HPQ Silicon Resource Co., Ltd. ((((TSX-V: HPQ). Is a Quebec-based innovative silicon solution company that provides silica (SiO).2) And silicon (Si) based solutions, developing a unique portfolio of high value silicon (Si) products demanded by battery and electric vehicle manufacturers.

Silicon (Si), also known as silicon metal, is one of today’s key strategic materials needed for the decarbonization of the economy and the Renewable Energy Revolution (“RER”). However, since silicon does not exist in a pure state, quartz (SiO)2) Historically it was a process of consuming large amounts of capital and energy.

When PyroGenesis Canada Inc.
((((TSX: PYR). ((((NASDAQ: PYR).HPQ is under development:

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  1. the PUREVAP ™ “Quartz Reduction Reactor” (QRR), Innovative process (patent granted in the United States and pending in other jurisdictions). This enables one-step conversion of quartz (SiO).2) Reduce costs, energy inputs, and carbon dioxide emissions to convert to high-purity silicon (Si), greatly expanding the potential of renewable energy..
  2. Through our wholly owned subsidiary HPQ NANO Silicon Powders Inc. PUREVAP ™ Nano Silicon Reactor (NSiR)). Is a new and unique process that can use the materials produced by QRR as raw materials to produce different nano / micro spherical powders of different sizes and nanowires.
  3. HPQ is developing a new plasma-based process through its second wholly owned subsidiary, HPQ Silica POLVERE Inc. This allows for a direct conversion of quartz to fumed silica, eliminating the use of harmful chemicals in the production of fumed silica and eliminating hydrogen. Chloride gas (HCI) associated with its production.

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HPQ is also a technology development company interested in developing hydrogen-based ventures and may complement QRR’s efforts. HPQ is currently evaluating two different approaches to achieving this goal. They are:

  1. Cooperation with Swiss-based company EBH2 Systems SAS is associated with a unique process of producing green hydrogen by electrolysis.
  2. Develop a unique process to make hydrogen by hydrolyzing the nanosilicon material we made PUREVAP ™ (NSiR).

For more information, please visit: HPQ Silicon Website..

Disclaimer:
Our interest in the development of PUREVAP ™ QRR, and the expected capital or operational cost savings associated with its development, are related to establishing the economic feasibility or technical feasibility of our Quartz project. Should not be interpreted as.

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Although this press release contains the words “may,” “plan,” “do,” “estimate,” “continue,” “expect,” “intention,” and “expect.” It contains statements about specific future prospects, not limited to these. , “In progress” and other similar expressions that make up “forward-looking information” within the meaning of applicable securities law. Forward-looking statements reflect our current expectations and assumptions and are subject to many risks and uncertainties where actual results may differ materially from expectations. These forward-looking statements include, but are not limited to, our expectations for acceptance of our products in the market, our strategy for developing new products and enhancing the capabilities of existing products, and our strategy for research and development. Includes risks and uncertainties. Uncertainty associated with competitive products and pricing impacts, new product development, and regulatory approval processes. Such statements reflect our current views on future events and are detailed from time to time in our ongoing filings with securities regulators, as well as certain risks and uncertainties. Is subject to the risk of. .sedar.com. Actual results, events, and performance can vary significantly. Readers should be careful not to place undue reliance on these forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or other consequences, except as required by applicable securities law.

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Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

This news release is from the company CEO Validated Discussion ForumA moderated social media platform that enables civilized discussions and questions and answers between management and shareholders.

Source: HPQ Silicon Resource Co., Ltd.
For more information, please contact:

Bernard J. Tourillon, Chairman, President and CEO Tel +1 (514) 907-1011
Patrick Levasseur, CEO Special Advisor Tel: +1 (514) 262-9239
Email: Info@hpqsilicon.com

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Ownership of the PUREVAP ™ Quartz Reduction Reactor Pilot System transferred to HPQ Silicon

Source link Ownership of the PUREVAP ™ Quartz Reduction Reactor Pilot System transferred to HPQ Silicon

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