05:47:29 EDT Thu 28 Mar 2024
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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 178,580,395
Close 2023-06-01 C$ 1.08
Market Cap C$ 192,866,827
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HPQ, PyroGenesis produce 3N+ Si in single step

2023-06-01 14:18 ET - News Release

See News Release (C-HPQ) HPQ Silicon Inc

Mr. Bernard Tourillon of HPQ reports

HPQ SILICON GEN3 QRR PILOT PLANT PRODUCES 3N+ SILICON (99.92% SI) IN A SINGLE STEP

HPQ Silicon Inc. has successfully validated a crucial milestone that demonstrates the capabilities of its proprietary technology, the Purevap quartz reduction reactor (QRR) process. Its accomplishment is that it has produced silicon with a purity exceeding 3N+ in a single step.

This validation follows a thorough review of test No. 5 results from the continuing Gen3 pilot plant program conducted by technology provider PyroGenesis Canada Inc.

The results are also highly promising because they confirm the capability of the QRR process to reduce the cash cost of silicon metal manufacturing through a single-step process and by decreasing the feedstock requirement.

"These advancements mark a milestone for HPQ Silicon and highlight the effectiveness of the Purevap QRR process in modernizing the production of high-purity silicon while concurrently driving down production costs," said Bernard Tourillon, president and chief executive officer of HPQ Silicon. "HPQ, with partner Pyrogenesis, is continually advancing its new QRR technology. These recent results demonstrate more positive progress in the efforts to create a new, low-cost process to manufacture of high-purity silicon. The existing processes have remained largely unchanged for the past century."

Produced 3N+ purity silicon or battery-grade silicon

PyroGenesis thoroughly assessed the silicon material generated during tests No. 4 and No. 5 in the series. The samples were analyzed using ICP-MS (inductively coupled plasma mass spectrometry) silicon bulk sample analysis at Air Liquide Electronics (Balazs NanoAnalysis).

In test No. 4, the results revealed an average silicon purity (per cent) surpassing 99.8 per cent. This achievement signifies a noteworthy enhancement compared with the previous best results of 99.6 per cent Si, as announced on March 16.

However, it is the outcome of test No. 5 that is noteworthy.

During test No. 5, the company achieved an average silicon purity of 99.92 per cent across two separate tests. This outcome validates the capability of the QRR process to surpass the minimum purity requirement of 3N, specifically for battery-grade silicon.

The achievement moves forward HPQ in its goal of producing high-purity silicon for battery and other high-value applications with the QRR.

QRR process: unlocking a reduction in cash costs for silicon production

Conventionally, the production yield of metallurgical grade silicon (1-2N purity) ranges from 80 to 90 per cent. However, when traditional plants implement optimized processes to produce higher-purity silicon (2-3N), production yields are reduced to between 50 and 60 per cent.

Its innovative Purevap QRR reactor, with its unique enclosed design, has the potential to achieve a conversion efficiency exceeding 75 per cent while consistently maintaining a high purity level of 3N+ and more.

This would enable the company to produce one unit of silicon using fewer units of feedstock, potentially resulting in a greater-than-25-per-cent reduction in feedstock usage. If successful, this could provide HPQ with an additional cost advantage compared with traditional methods.

As part of its program's objective to optimize feedstock utilization in the QRR process, the company is delighted to report that test No. 5 demonstrated this progress. The conversion efficiency of the process reached 20 per cent, a fourfold improvement compared with tests No. 1 through No. 4.

"Results to date demonstrate that we are steadily progressing towards attaining a conversion efficiency of 75 per cent, which will represent a leap forward in high-purity silicon manufacturing, providing HPQ with economic advantages and process efficiency within the silicon industry," added Mr. Tourillon. "We take great pride in the efforts of the team at PyroGenesis and our role in this exceptional opportunity and its potential for transformative impact."

Filing of new QRR process patent and shares for debt settlement

HPQ Silicon is pleased to announce that it has entered into an agreement to acquire all rights held by the inventors of a new Purevap QRR provisional patent application related to improvement of the purity of the silicon material produce by the QRR by one N. Practically this invention will allow it to increase the purity of its silicon from the 99.92 per cent already achieved to 99.992 per cent

This contract stems from negotiations between the parties and the debt results from the French legislation stipulating that inventors of a patent are entitled to receive remuneration for their work. That consideration was payable by the patent owner and became a debt affecting the patent.

HPQ, to become the owner and acquire all the rights in a clear patent, negotiated the payment of the debt and agreed with the inventors that the debt in the amount of $88,560 will be settled by means of the issuance by the company of 432,000 units. The payment shall be made, in two stages, being 144,000 units to each of the three inventors.

Each unit will consist of one common share of the company and one warrant to purchase one additional common share of the company at an exercise price of 27 cents for a period of two years after the closing date of the transaction. The first issue of 72,000 units to each of the inventors will be made on the date the company receives TSX Venture Exchange approval. The second issue of 72,000 units will be made to each of the inventors at the time of the international filing of the patent. This transaction is subject to TSX Venture Exchange and regulatory approval.

About PyroGenesis Canada Inc.

PyroGenesis Canada, a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional dirty processes.

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

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