RE:New Press Release - PyroGenesis Receives Exchange Approval for Block Sale of HPQ Silicon Inc. SharesGreat to see this transaction go through.
From the NR: The FSR project, being conducted in conjunction with HPQ Silica Polvere Inc. (“HPQ Polvere”), a wholly owned subsidiary of HPQ, is an initiative to create fumed silica from quartz in a single step. The QRR project is an initiative to create high purity silicon from quartz in a single step using a plasma reactor. PyroGenesis is the exclusive supplier of both technologies. For the FSR project, the Company benefits from a royalty payment representing 10% of HPQ Polvere’s eventual sales, with set minimums. This royalty stream can, at any time, be converted by PyroGenesis into a 50% ownership in HPQ’s remaining equity stake in HPQ Polvere.