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HPQ Silicon's Chairman, President and CEO Bernard Tourillon, BAA, MBA gave a presentation at The Benzinga Cleantech Small Cap Conference on April 22, 2021.
It's estimated that over the next 10 years, the energy storage market in the U.S. alone could grow as much as $426 billion (source: UBS Investment Bank). Meanwhile, there has become a massive demand for silicon materials for batteries — with an expected need of 200,000 metric tons by 2030. Unfortunately, there is no production capacity currently to pull that off. But Montreal's HPQ Silicon Resources (TSX-V: HPQ) HPQFF (FWB: UGE) HPQ believes it's at the vanguard of an opportunity to make a dent in that demand.
Since 2015, HPQ, an innovative silicon solutions provider of silicon metal, has been working on the development of one of today's key strategic materials needed for the decarbonization of the economy and the renewable energy revolution. The company's target objective is to produce high-value specialty silicon products using technologies that will reduce energy consumption, greenhouse gases and carbon footprint.
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"No one knew about silicon and batteries when we began and now the projection is that 30% of the graphite being used in batteries has to be replaced with silicon," HPQ CEO and President Bernard Tourillon told Benzinga. "Silicon is about to explode, and batteries have not evolved the way computer chips have, with graphite being the limiting factor. Silicon allows for faster charging and higher storage capacity than graphite."
The company has taken advantage of the expected need for silicon by launching an aggressive development strategy. In addition to the $1.3 million it's raised since January 1, 2021, through the exercise of options and warrants, it currently has over CAD$7.4 million cash equivalent in hand and options representing an additional $11.6 million cash available to fund its future projects. "With access to over $19 million, HPQ has the necessary funds to continue its research and development to commercialization of our PUREVAP™ family of processes," said Tourillon.
Working with PyroGenesis Canada Inc. (TSX: PYR), a high-tech company that designs, develops, manufactures and commercializes plasma-based processes, HPQ is developing the PUREVAP "Quartz Reduction Reactors" (QRR), an innovative process (patent pending), which will permit the one-step transformation of quartz into high purity silicon (Si) at reduced costs, energy input and carbon footprint that will propagate its considerable renewable energy potential. HPQ believes it will soon become the lowest cost (Capex and Opex) producer of Si and high purity silicon metal.
Tourillon believes that HPQ's technology and work with PyroGenesis will give the company an advantage over others who realize the future need for silicon in batteries. "We're very confident that the silicon materials we are developing, with our expected low-cost scalable processes, will be in high demand for batteries and by EV manufacturers and other participants in the ongoing renewable energy revolution."
Learn more about HPQ at www.hpqsilicon.com
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