Mr. Bernard Tourillon reports

SIGNING OF A MULTILATERAL COMMITMENT TO EXPLORE THE POSSIBILITY OF INTEGRATING NOVACIUM'S HYDROGEN MANUFACTURING TECHNOLOGY IN VEHICLES MADE BY ARQUUS

HPQ Silicon Inc. has entered into a new multiparty commitment with Arquus, along with its French affiliate, Novacium SAS, and LN Innov' SAS of Toulouse, France (refer to the press release of Sept. 26, 2023).

The aim of this multiparty commitment is to initiate discussions exploring the potential co-operation for integrating Novacium's new hydrogen production system (refer to the press release of Sept. 7, 2023) into Arquus company vehicles.

Within the Volvo Group, Arquus is a company engaged in the design, development, manufacturing, marketing and support of tactical and logistic vehicles, whether armoured or not, along with their associated equipment. These products are tailored to meet the requirements of armed and security forces, both in France and internationally.

Harnessing hydrogen potential while eliminating limiting factors

Unlike traditional electrolysis-based hydrogen production systems, Novacium's process operates without the need for electricity, extensive storage and complex transportation infrastructure, offering a truly autonomous solution. Furthermore, the hydrogen produced by the chemical process directly reaches industry-standard pressure levels, typically ranging from 200 to 1,000 bars.

"This innovative approach aims to unlock the hydrogen stored in water using ecofriendly and low-cost alloys, providing an alternative, safe and efficient means of hydrogen production," said Dr. Jed Kraiem, PhD, chief operating officer of Novacium. "We are confident that our simple and secure method of hydrogen production will unlock the potential of hydrogen as a safe and clean on-site energy source for a variety of industrial and military applications."

The dual-application process, designed for military and civilian uses, addresses potential clients', like Arquus, need for a low-carbon footprint, on-demand, high-pressure autonomous hydrogen production system deployable anywhere globally, even under off-grid conditions, with safety as a top priority.

"The signing of this multiparty commitment with the Arquus company represents a first step in the commercialization of Novacium's hydrogen manufacturing process. We are excited about its potential to transform hydrogen's role, as safe and clean energy on-site source in various industrial applications," said Bernard Tourillon, president and chief executive officer of Novacium and HPQ Silicon.

"Hydrogen: an opportunity for France and its armed forces. The energy transition to hydrogen is a real windfall for France. It offers major economic opportunities, strengthens the country's energy sovereignty and renews the techno-industrial training capacity of the armed forces," said 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."

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, new green processes crucial to make the critical materials needed to reach net-zero emissions.

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