Mr. Bernard Tourillon reports

HPQ SILICON RECRUITS FORMER SENIOR EXECUTIVE FROM MAJOR GLOBAL SILICON METAL PRODUCER AS SENIOR CONSULTING ENGINEER

HPQ Silicon Inc. has appointed Dr. Pascal Rivat, PhD, as senior consulting engineer within its technical team.

With 30 years of experience in the fields of metallurgy and the industrial deployment of new applications and manufacturing processes, Dr. Rivat represents a major asset to HPQ as the company prepares to enter its next phase of development, focused on the commercial deployment of its technologies.

With over two decades of experience as the head of the innovative applications design office at a leading industrial metallurgical equipment manufacturer, and an additional 11 years spent at one of the world's largest silicon producers, including an eight-year tenure as the head of the silicon research and development department within one of the group's largest divisions, Dr. Rivat significantly fortifies HPQ's expertise in silicon manufacturing and valorization.

"The hiring of Dr. Rivat as a senior consulting engineer, given his extensive qualifications and experience in metallurgy and silicon, demonstrates the company's careful and strategic approach to assembling a team that can effectively advance the commercialization of our technologies," said Bernard Tourillon, president and chief executive officer of HPQ Silicon. "One of Dr. Rivat's initial responsibilities will be working with the Novacium team on HPQ's battery strategy."

Implementation of HPQ's battery strategy for silicon-based materials

Phase 1 in HPQ's continuing battery strategy aims to provide industry buyers with a silicon-based (Si) material for anodes that meets their needs by the end of 2023. Simultaneously, HPQ plans to commission its first production line, capable of manufacturing 200 tonnes per year of silicon-based (Si) materials for anodes, by the end of 2024.

Once the first production line is operational, HPQ's next medium-term objective is to align its silicon (Si) materials for anodes production capacity with the Purevap Gen4 quartz reduction reactor (QRR) raw material production capacity, which is 2,500 tonnes per year (TPY) of high-purity silicon.

Silicon-based materials for lithium batteries

A major trend in the lithium battery industry is the introduction of small amounts (between 5 per cent and 10 per cent) of silicon oxide (SiOx) into graphite composite electrodes. This is due to the fact that pure graphite anodes have essentially achieved their maximum performance in terms of energy density.

This new reality is driving a surge in demand for silicon anode materials. As of 2023, this market is valued between $1.1-billion (U.S.) and $2.7-billion (U.S.). Its growth prospects indicate a potential demand of 300,000 tons by 2030, estimated at $15-billion (U.S.), according to one source, and $131.6-billion (U.S.) in 2033, according to another source.

Currently, depending on the final composition, the potential selling price for silicon-based (Si) materials for anodes ranges between $30 (U.S.) per kilogram and $50 (U.S.) kg.

About HPQ Silicon Inc.

HPQ Silicon is a Quebec-based TSX Venture Exchange Tier 1 industrial issuer. HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and Novacium SAS, new green processes crucial to make the critical materials needed to reach net-zero emissions. HPQ activities are centred around the following five pillars:

1. Becoming a green low-cost (capital expenditure and operating expenditure) producer of high-purity silicon (2N+ to 4N) using its proprietary Purevap quartz reduction reactors (QRR) being developed by PyroGenesis;
2. Becoming North America's first producer of micron-size high-purity silicon (3N and 4N) powders with the assistance of Novacium;
3. Working to become the first producer of nanosilicon materials from high-purity silicon chunks using the company's proprietary Purevap nanosilicon reactor (NSiR) being developed by PyroGenesis;
4. Becoming a green low-cost (capex and opex) producer of fumed silica using the company's proprietary fumed silica reactor being developed by PyroGenesis;
5. Developing a small and compact process for the on-demand production of hydrogen via hydrolysis of silicon and other materials.

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