PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQX:
PYRGF) (FRA: 8PY), a high-tech company (the “Company” or
“PyroGenesis”) that designs, develops, manufactures and
commercializes advanced plasma processes and sustainable solutions
which are geared to reduce greenhouse gases (GHG) and address
environmental pollutants, is pleased to announce the signing by HPQ
Silica Polvere Inc. (“HPQ Polvere”) of a letter of intent (LOI)
with Evonik Corporation, a global specialty chemicals company that
manufactures a wide range of high-performance materials including
fumed silica. The LOI was announced earlier today by HPQ Silicon
Inc. (“HPQ”), the parent company of HPQ Polvere.
HPQ Polvere’s primary initiative is the Fumed
Silica Reactor (FSR) project. PyroGenesis has been designing,
engineering, and constructing this proprietary technology to
convert quartz (SiO2) into fumed silica (also known as pyrogenic
silica) in a single and eco-friendly step while eliminating the use
of harmful chemicals generated by conventional methods. The FSR, if
successful, could provide a groundbreaking contribution to the
repatriation of silica production to North America.
PyroGenesis previously announced (in a press
release dated May 30, 2024) its intent to exercise its right to
convert its annual royalty rights into a 50% ownership stake of HPQ
Polvere pursuant to a Design and Development Agreement. PyroGenesis
has yet to provide HPQ with a notice of the execution of the
conversion as the companies finalize key documentation outlining
the legal parameters which would govern the relationship, including
a shareholder’s agreement.
As stated in HPQ’s news release of earlier
today, the objective of the LOI is to outline the basis of a
collaboration with Evonik during the FSR pilot scale phase with the
goal to validate the ability of the FSR to produce low-cost, low
carbon material acceptable to Evonik’s specifications. Evonik has
already confirmed that HPQ Polvere’s first-generation samples are
acceptable to Evonik. The intent is to scale up the current process
and confirm that the material produced continues to meet Evonik’s
criteria.
“Today’s news announcing the signing of a letter
of intent with Evonik is another step towards confirming the unique
potential for the FSR, a ground-breaking technology and process
that our engineers developed with both environmental and commercial
considerations in mind,” said P. Peter Pascali, President and CEO
of PyroGenesis. “We look forward to engaging with Evonik and HPQ as
the process moves forward.”
Fumed silica is a moisture-absorbing white
microstructure powder with high surface area and low bulk density.
Used most often as a thickening agent, anti-caking agent, and
stabilizer to improve the texture and consistency of products, the
commercial applications of fumed silica can be found in many
industries across thousands of product lines, including – but not
limited to – personal care, powdered food, pharmaceuticals,
agriculture (food & feed), adhesives, paints, sealants,
construction, batteries and automotive.
The fumed silica market, valued at US$1.3
billion in 2022, is expected to grow at a CAGR of 5% to reach
US$2.1 billion by 2032. Fumed silica sales accounted for almost 23%
of the global specialty silica market at the end of 2021.1
PyroGenesis’ involvement in developing fumed
silica from quartz is part of PyroGenesis’ three-tiered
solution ecosystem that aligns with economic drivers that are
key to global heavy industry. High-purity silicon is part of
PyroGenesis’ Commodity Security & Optimization tier, where the
recovery of viable metals and the optimization of production to
increase output helps to maximize raw materials and improve the
availability of critical minerals. Silicon has been identified
as a critical mineral by many governments worldwide.
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a proud leader in the design, development, manufacture and
commercialization of advanced plasma processes and sustainable
solutions which reduce greenhouse gases (GHG) and are economically
attractive alternatives to conventional “dirty” processes.
PyroGenesis has created proprietary, patented and advanced plasma
technologies that are being vetted and adopted by multiple
multibillion dollar industry leaders in four massive markets: iron
ore pelletization, aluminum, waste management, and additive
manufacturing. With a team of experienced engineers, scientists and
technicians working out of its Montreal office, and its 3,800 m2
and 2,940 m2 manufacturing facilities, PyroGenesis maintains its
competitive advantage by remaining at the forefront of technology
development and commercialization. The operations are ISO 9001:2015
and AS9100D certified, having been ISO certified since 1997. For
more information, please visit: www.pyrogenesis.com.
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.
Cautionary and Forward-Looking
Statements
This press release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of applicable
securities laws. In some cases, but not necessarily in all cases,
forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “targets”, “expects”
or “does not expect”, “is expected”, “an opportunity exists”, “is
positioned”, “estimates”, “intends”, “assumes”, “anticipates” or
“does not anticipate” or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might”, “will” or “will be taken”, “occur” or
“be achieved”. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances contain forward-looking statements.
Forward-looking statements are not historical facts, nor guarantees
or assurances of future performance but instead represent
management’s current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking statements are necessarily based
on a number of opinions, assumptions and estimates that, while
considered reasonable by the Company as of the date of this
release, are subject to inherent uncertainties, risks and changes
in circumstances that may differ materially from those contemplated
by the forward-looking statements. Important factors that could
cause actual results to differ, possibly materially, from those
indicated by the forward-looking statements include, but are not
limited to, the risk factors identified under “Risk Factors” in the
Company’s latest annual information form, and in other periodic
filings that the Company has made and may make in the future with
the securities commissions or similar regulatory authorities, all
of which are available under the Company’s profile on SEDAR+ at
www.sedarplus.ca. These factors are not intended to represent a
complete list of the factors that could affect the Company.
However, such risk factors should be considered carefully. There
can be no assurance that such estimates and assumptions will prove
to be correct. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
release. The Company undertakes no obligation to publicly update or
revise any forward-looking statement, except as required by
applicable securities laws.
Neither the Toronto Stock Exchange, its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) nor the OTCQX Best Market
accepts responsibility for the adequacy or accuracy of this press
release.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BD E-mail:
ir@pyrogenesis.com RELATED LINK: http://www.pyrogenesis.com/
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https://www.factmr.com/report/2301/fumed-silica-market
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