HPQ Silicon Inc., a technology company focused on sustainable engineering of silica and silicon-based materials, is pleased to announce a major milestone in advancing the commercialization of the Fumed Silica Reactor (“FSR”) process by its subsidiary, HPQ Silica Polvere Inc. (“HSPI”).

On July 9, 2024, HSPI, formerly a wholly owned subsidiary of HPQ Silicon Inc., and now with technology supplier PyroGenesis Canada Inc. having expressed its intention to acquire a 50% stake in HSPI as of May 2024, entered into a letter of intent (LOI) with Evonik Corporation (Evonik), a prominent global specialty chemicals company known for its production of a diverse range of high-performance materials, including fumed silica.

Bernard Tourillon, President & CEO of HPQ Silicon and HPQ Silica Polvere, commented, “The signing of this LOI at this stage of development underscores the transformative potential of FSR technology in fumed silica production. This agreement validates industry confidence in the technological and commercial promise of FSR, and we are proud to spearhead the advancement of our cost-effective, environmentally friendly fumed silica manufacturing process.”

P. Peter Pascali, President and CEO of PyroGenesis, emphasized, “PyroGenesis prioritizes ideas with genuine and substantial potential for successful commercialization. We are selective in committing our engineering and technical resources, focusing on initiatives with the highest upside. Our decision to take a 50% ownership stake in the fumed silica reactor process underscores its rare commercial promise. This LOI with Evonik, a company of significant scale and reputation, reinforces the rationale behind our approach and validates the market potential for our fumed silica technology.”

The purpose of the LOI is for HSPI to partner with Evonik in the pilot scale phase to verify the capability of the FSR in producing low-cost, low-carbon materials that meet Evonik’s standards. This marks a scaling up of the process from HSPI’s initial-generation samples, which have already demonstrated compliance with Evonik’s specifications.

Evonik, a prominent manufacturer of fumed silica and metal oxides, remains committed to advancing next-generation technologies that promise enhanced sustainability and superior product performance, driving transformation across industries and society.

HPQ Silicon Inc. (TSX-V: HPQ) is a Tier 1 Industrial Issuer listed on the TSX Venture Exchange and headquartered in Quebec. With the collaboration of esteemed technology partners PyroGenesis Canada Inc. and NOVACIUM SAS, HPQ is spearheading the development of new green processes essential for producing critical materials required to achieve net zero emissions.