MONTREAL, Dec. 14, 2023 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: O08), a technology company specializing in green engineering processes for silica and silicon material manufacturing, is strategically positioned to become a vital supplier of engineered SiOx materials for battery anodes as the US and Canadian governments use policy and other financial incentives to actively engage in creating homegrown battery manufacturing ecosystems.
HPQ is intensifying its efforts to produce 3N+ Silicon feedstock for use in manufacturing its engineered SiOx battery material. The company will achieve this by capitalizing on its innovative technologies and strategic partnerships to help address the growing need for high-quality, locally sourced materials in the burgeoning North American battery and clean energy sector.
THE NEED FOR LOCALLY MANUFACTURED ENGINEERED SIOX BATTERY MATERIAL
The battery technology and electric vehicle manufacturing industries are rapidly growing, and HPQ understands the crucial role that engineered SiOx battery materials play in these industries.
Currently, the industry relies on almost 100 sources, all of which are based outside North America, to meet its SiOx requirements. This reliance on foreign supply chains not only jeopardizes the stability and reliability of supply but also exposes North America to the whims of global market dynamics and geopolitical upheavals.
Such dependence heightens the risk of supply chain disruptions in the region, making it increasingly susceptible to the volatile nature of international markets and shifting geopolitical landscapes.
"As indicated in our recent MOU with Ecellix (November 28, 2023, release), we are committed to deploying our technologies in North America to enhance the resilience of potential client supply chains and reduce dependence on foreign sources," stated Mr. Bernard Tourillon, President and CEO of HPQ Silicon Inc and CEO of Novacium SAS. "The recent U.S. government regulations limiting non-regional content for EV tax credits [1] further validate the strength of our approach."
MEETING THE GROWING DEMAND FOR BATTERY MATERIALS
HPQ recognizes that engineered SiOx materials for battery anodes is a key component in the electric vehicle industry and is committed to becoming a much-needed local source of this material to strengthen energy security and reinforce North America's position in the rapidly expanding electric vehicle and clean energy sectors.
The company intends to use its proprietary technologies and those of its associated company, Novacium SAS, to meet the growing demand for engineered SiOx-based battery anode materials, aiming to enhance the performance of battery technologies.
“Beyond its strategic significance, HPQ's pursuit of becoming a domestic engineered SiOx supplier aligns seamlessly with its broader environmental objectives,” added Mr. TOURILLON. “Engineered SiOx-based battery anode materials are pivotal in crafting high-performance, environmentally friendly batteries, a cornerstone of the effort to curtail carbon emissions and combat climate change.”
The new U.S. regulations, which establish a 25% ownership threshold for foreign entities of concern (FEOCs), have created a pressing demand for domestic suppliers of battery materials. HPQ is well-positioned to meet this demand and supply American companies with SiOx materials essential for the electric vehicle industry [1].
“By fostering a resilient SiOx supply chain, HPQ is contributing to regional innovation and economic growth and paving the way for a sustainable, eco-conscious future for North America and the global electric vehicle industry,” continued Mr. Tourillon.
REFERENCE SOURCES
[1] December 1, 2023, Bloomberg article, “US Sets Limits on Chinese Content to Receive EV Tax Credits”
About HPQ Silicon
HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer.
HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions.
HPQ activities are centred around the following four (4) pillars:
- Becoming a green low-cost (Capex and Opex) manufacturer of Fumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.
- Becoming a zero CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our PUREVAPTM “Quartz Reduction Reactors” (QRR), a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.
- Becoming a producer of silicon-based anode materials for battery applications with the assistance of NOVACIUM SAS.
- HPQ SILICON affiliate NOVACIUM SAS is developing a low carbon, chemical base on demand and high-pressure autonomous hydrogen production system.
For more information, please visit HPQ Silicon web site.
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation 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 the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company 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 ongoing filings with the security’s regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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 News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Source: HPQ Silicon Inc.
For further information contact:
Bernard J. Tourillon, Chairman, President, and CEO Tel +1 (514) 846-3271
Patrick Levasseur, Director Tel: +1 (514) 262-9239
Email: Info@hpqsilicon.com
