PYR & HPQ and their patents(“HPQ” or “the Company”) is pleased to announce that a new provisional patent application covering a critical part of the
PUREVAP™ Quartz Reduction Reactor (QRR) process has been filed. This is the second distinct patent filing for HPQ and
PyroGenesis Canada Inc. (
TSX-V: PYR) since the 2015 commencement of the Company’s quest to improve the global economics and supply concerns of the Silicon (Si) market.
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While PyroGenesis filed the new provisional patent application, it is covered by the HPQ 2016 acquisition of the Intellectual Property rights to the PUREVAP™ QRR as it relates to the production of Silicon (Si) from Quartz (SiO2), and can therefore be transferred to HPQ at anytime. As part of the agreement, PyroGenesis retains a royalty-free, exclusive irrevocable worldwide license to use the process for purposes other than the production of Silicon (Si) from Quartz (SiO2). However, if PyroGenesis develops any other such application, HPQ does have a right of first refusal in the event of any sale or otherwise disposal.
“The new provisional patent application represents another significant milestone in our long term relationship with HPQ Silicon, and underscores our belief that what we are doing is truly unique as well as demonstrating our confidence in the ultimate commercial viability of the PUREVAPTM project,” said P. Peter Pascali, President and CEO of PyroGenesis. “At PyroGenesis we have developed an approach to protecting Intellectual Property, and we have the patent portfolio to prove it. We only engage in patent applications where we feel (i) that we will prevail with an award and (ii) that there is commercial application to protect.”
https://finance.yahoo.com/news/hpq-silicon-files-second-provisional-130000693.html