MONTREAL, Jan. 20, 2023 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or “the Company”) ( TSX-V: HPQ ) ( OTCQX: HPQFF ) ( FRA: O08 ), a technology company engaged in the development of green engineering processes for the production of silica and silicon, informs its shareholders, at the request of the TSX Venture Exchange, of the following fact. On September 28, 2022, in the normal course of its activities, HPQ made to a technology supplier, an entity unrelated to HPQ, an advance of $2,650,000 subject to certain restrictions and conditions and thus, it required the latter a term repayment commitment set at December 31, 2022 and the payment of interest of 3% on an annual basis in the event that it is not used in consideration for the performance of work or the supply of intellectual property. Given the current lack of agreement by the parties on the transactions to be finalized, this advance on acquisition and future work,
About HPQ Silicon
HPQ Silicon Inc. ( TSX-V: HPQ ) is a Quebec technology company engaged in the development of green engineering processes for the production of silica (SiO 2 ) and silicon (Si) that is in the process of developing a unique portfolio of silicon products ( Si) with high added value sought by manufacturers of batteries and electric vehicles. On July 21, 2022, the securities of HPQ began trading as issued by a Tier 1 Industrial Issuer on the TSX Venture Exchange.
Silicon (Si), also called silicon metal, is a strategic and essential element in the revolution towards renewable energies (“RER”) and the decarbonization of the economy currently underway. However, silicon (Si) does not exist in nature. It must be extracted from quartz (SiO 2 ) through a process that has always been expensive and energy-intensive.
HPQ Silicon is the only company to offer to the market a new silicon manufacturing process perfectly adapted to the new demands and realities of the silicon market. With ESG playing an increasingly active role in materials sourcing, the world is more aware than ever of the challenges associated with sourcing ESG-compliant silicon needed to meet renewable energy programs.
The reality of chronic underinvestment in new technologies, combined with the relocation of silicon production capacity, creates a huge opportunity for HPQ and the processes being developed with PyroGenesis Canada Inc. ( TSX: PYR ) ( NASDAQ: PYR ):
- The PUREVAP™ Quartz Reduction Reactor (“RRQ”) , an innovative process (patented in the United States and patent pending in other jurisdictions), which will enable the transformation of quartz (SiO2) into silicon (Si) of high purity, in a single step, reducing its manufacturing costs, its energy demand and its carbon footprint, which are the elements that will popularize its potential for renewable energies.
- Through its wholly owned subsidiary, HPQ Nano Silicon Powders Inc. (“HPQ NANO”), the PUREVAP™ Silicon Nano Reactor (“RSiN”) is a new proprietary process that will transform silicon (Si) of varying levels of purity into a wide range of spherical nano/micropowders of varying size and controlled, and in silicon nanowires.
- Through its wholly-owned subsidiary, HPQ Silica Polvere Inc., HPQ is developing a new plasma-based process that will convert quartz directly into pyrogenic silica, eliminating the use of hazardous chemicals in the manufacture of fumed silica and by removing the hydrogen chloride gas (HCl) associated with its manufacture.
HPQ is also a technology development company interested in the development of hydrogen-based companies, which could complement the efforts of the RRQ. Currently, HPQ is working with Novacium to develop the production of hydrogen by hydrolysis of silicon materials.
For more information, please visit www.hpqsilicon.com .
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "could", "plan", "will", "estimate", "continue", "anticipate", "expect". , "expect", "In the process" and other similar expressions that constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties, including, but not limited to, our expectations regarding market acceptance of our products, our strategy to develop new products and enhance capabilities of existing products, our research and development strategy, the impact of competitive products and pricing, new product development and uncertainties related to the regulatory approval process. These statements reflect the Company's current views with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time to time in the Company's current filings with securities regulators. securities, which documents can be found at www.sedar.com. Actual results, events and future performance may differ materially from the expectations described. Readers are cautioned not to place undue reliance on these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release is available on the CEO Verified Discussion Forum , a moderated social media platform that allows for civilized discussion and questions and answers between management and shareholders.
Source: HPQ Silicium Inc.
For information:
Bernard J. Tourillon, President and CEO, HPQ | +1 (514) 846-3271
Patrick Levasseur, administrator of HPQ | +1 (514) 262-9239
info@hpqsilicon.com
