MONTREAL, Sept. 14, 2022 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQX: HPQFF) (FRA: O08), an innovative silicon solutions and technology development company, would like to inform shareholders of the signing of a Memorandum of Understanding (“MOU”) with Quebec Silica Resources Corporation (CSE: QTZ) ("QTZ”). The MOU regards the procurement of Quartz material from QTZ’s Charlevoix Silica Project to HPQ for testing and evaluation purposes.
EVALUATING A POTENTIAL SUPPLIER OF QUARTZ FEEDSTOCK
The QTZ Charlevoix Silica Project represents an interesting potential quartz feedstock opportunity for HPQ because of its proximity to an active silica mining operation (Sitec Canada Inc) and the Silica Ridge Silica project. Under the terms of the MOU, QTZ will supply HPQ with silica materials that meet HPQ specifications and requirements for testing in HPQ GEN3 PUREVAPTM Quartz Reduction Reactor (QRR). Under the MOU, if the material provided by QTZ generates “finished products” that are commercially valid and usable by HPQ, the Parties will negotiate a definitive sourcing agreement. Either Party may terminate the MOU after twelve (12) months without any obligation or liability to the other party.
“HPQ’s value proposition is derived from harnessing the potential of its silicon and silica materials innovations: the manufacturing and commercializing of silicon, fumed silica and nanosilicon materials needed for an ever-evolving ESG compliant business environment. As we get closer to making commercial production plans, securing access to quartz feedstock for our silicon and silica projects becomes another much-needed check mark,” said Mr. Bernard Tourillon, President and CEO of HPQ Silicon Inc. “This MOU gives HPQ the opportunity to begin addressing quartz feedstock questions while focusing on developing its technologies, and QTZ focuses on developing its quartz resources. So, in effect, it enables both companies to use their limited but valuable resources efficiently — creating a WIN-WIN scenario."
About Quebec Silica Resources Corp.
Québec Silica is a mineral exploration company focused on acquiring and exploring mineral resource properties with an emphasis on the Charlevoix Silica Property located near St-Urbain, Québec, Canada. Québec Silica's goal is to explore for, develop, and provide silica resources for the new green economy such as Silicon Lithium batteries, solar silicon, telecommunication and optics, and biomedical applications.
About HPQ Silicon Inc
HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based innovative silicon solutions company that offers silica (SiO2) and silicon (Si) based solutions, and is developing a unique portfolio of high value-added silicon (Si) products sought after by battery and electric vehicle manufacturers, among other industries.
Silicon (Si), also known as silicon metal, is one of today’s key strategic materials needed for the decarbonization of the economy and the Renewable Energy Revolution (“RER”). However, silicon does not exist in its pure state and must be extracted from quartz (SiO2) in what has historically been a capital and energy-intensive process.
With PyroGenesis Canada Inc., HPQ is developing:
the PUREVAPTM “Quartz Reduction Reactors” (QRR), an innovative process (patent granted in the United States and pending in other jurisdictions), which will permit the one-step transformation of quartz (SiO2) into high purity silicon (Si) at reduced costs, energy input, and carbon footprint that will propagate its considerable renewable energy potential.
Through its 100% owned subsidiary, HPQ NANO Silicon Powders Inc., the PUREVAPTM Nano Silicon Reactor (NSiR) is a new proprietary process that can use material produced by the QRR as feedstock, to make a wide range of nano/micro spherical powders and nanowires of different sizes.
Through its second 100% owned subsidiary, HPQ Silica POLVERE Inc., HPQ is developing a new plasma-based process that allows a direct Quartz to Fumed silica transformation, removing the usage of hazardous chemicals in the making of Fumed silica and eliminating the Hydrogen Chloride Gas (HCI) associated with its manufacturing.
HPQ is also a technology development company interested in developing hydrogen-based ventures, that could be complementary to the QRR efforts. Currently, HPQ is evaluating two different approaches to reach this goal, those being:
Working with Swiss based company EBH2 Systems SAS on their proprietary process to manufacture Green Hydrogen via electrolysis, and
Developing HPQ’s own processes of making hydrogen via hydrolysis of nanosilicon materials made by our PUREVAPTM (NSiR).
For more information, please visit HPQ Silicon web site.
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) 907-1011
Patrick Levasseur, Special Advisor to the CEO Tel: +1 (514) 262-9239