Mr. Peter Pascali reports

PYROGENESIS ANNOUNCES ACQUISITION OF INTELLECTUAL PROPERTY RIGHTS RELATED TO THE PUREVAPTM NANO SILICON REACTOR AND NANO-SILICON DEVELOPMENT

Further to HPQ Silicon Inc.'s press release dated Nov. 17, 2023, indicating that HPQ Silicon would no longer be pursuing the commercial development of the Purevap nanosilicon reactor (NSiR) in order to focus on other initiatives, PyroGenesis Canada Inc. has reacquired the intellectual property rights to the NSiR technology on a no-cost basis.

The Purevap NSiR is a proprietary process, originally designed and developed by PyroGenesis on behalf of HPQ Nano Silicon Powders Inc., a wholly owned subsidiary of HPQ Silicon, that can use different purities of silicon (Si) as feedstock to make a wide range of spherical silicon nano- and micropowders and wires, for potential use across various applications, including as a potential replacement metal in lithium-ion batteries.

Under the terms of a 2020 development and purchase agreement between PyroGenesis and HPQ Nano, all rights in the Purevap NSiR process (including any intellectual property rights) were assigned to HPQ Nano on condition that should HPQ Nano choose not to commercialize the technology, PyroGenesis would have the option to have the ownership of this technology revert back to it at no additional cost.

"Nano silicon is still in its infancy, and so is the understanding of its usefulness. Reacquiring the intellectual property related to the Purevap NSiR allows us to continue to explore the full spectrum of possibilities for this metal," said P. Peter Pascali, president and chief executive officer of PyroGenesis.

By reacquiring this technology, PyroGenesis will also be reacquiring the rights to the invention entitled "Nano-silicon Particles/Wire Production by Arc Furnace for Rechargeable Batteries," which is subject to U.S. and Patent Cooperation Treaty patent applications.

The company's development of technology to produce nanosilicon is part of the company's three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Nanosilicon production via the Purevap NSiR is part of the company's commodity security and optimization tier, where the recovery of viable metals, and the optimization of production to increase output, helps to maximize raw materials and improve the availability of critical minerals.

About PyroGenesis Canada Inc.

PyroGenesis Canada, a high-tech company, is a proud 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. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion-dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800-square-metre and 2,940-square-metre manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997.

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