- HPQ has signed a Memorandum of Understanding with EBH2 Systems SA
- The agreement establishes the terms of the creation of a new Joint venture company (NEWCO) owned by HPQ and EBH2 that will market, sell and service EBH2 systems
- EBH2 is a Swiss company with a proprietary electrolysis technology that can efficiently extract Green Hydrogen from virtually any water source
- EBH2 has filed a provisional patent for its process to make Green Hydrogen, a process that is adaptable to numerous applications
- Under the agreement, HPQ can acquire a perpetual worldwide license to sell or deploy the bundled HPQ Technologies – EBH2 generator-based systems
- HPQ Silicon Resources is a Quebec-based innovative silicon solutions company
- HPQ-Silicon shares (TSXV:HPQ) is unchanged, trading at C$0.73 per share at 1:20 pm ET
HPQ has signed a Memorandum of Understanding with EBH2 Systems SA.
EBH2 is a Swiss company with a proprietary electrolysis technology that can efficiently extract Green Hydrogen from virtually any water source including saltwater. Green Hydrogen can be used to create low-cost electricity with no environmental impact.
EBH2 has filed a provisional patent for its process to make Green Hydrogen, a process that is adaptable to numerous applications from various modes of land and sea transport to single home dwellings, district-wide power generation and large-scale industrial applications. EBH2 first successfully tested prototype model has a clean energy production capacity starting at 1 Megawatt of power that can be produced over 7 days from 2 litres of water; sufficient energy to power a typical three-bedroom suburban house.
The company believes it can scale to power the planned high purity silicon and Nano silicon production by HPQ. If successful, HPQ proposes to bundle the energy production capability of EBH2 systems with its silicon production to further reduce the environmental footprint of its developing high purity silicon, nanopowders, and other Renewable Energy products.
Under the agreement, HPQ can acquire a perpetual worldwide license to sell or deploy the bundled HPQ Technologies – EBH2 generator-based systems anywhere in the world.
Bernard Tourillon, President and CEO of HPQ Silicon commented on the partnership with EBH2
“The agreement establishes the terms of the creation of a new Joint venture company (NEWCO) owned by HPQ and EBH2 that will market, sell and service EBH2 systems and products in North America. The global standby generator market is anticipated to grow to US$ 1.3 billion by 2025.
HPQ has been at the forefront of Silicon innovation development since 2015, yet the fact remains that converting quartz into silicon is a highly energy-intensive process. EBH2 Systems SA, with their unique process to extract hydrogen from water to generate cheap green energy presents HPQ with one of these games changing synergetic opportunities that we simply could not overlook.
When EBH2 demonstrates that the system can do what they say it will, HPQ will be incredibly well-positioned to reduce the cost and environmental footprint of making its silicon materials all the while opening up new, and massive addressable markets for a system that can produce cheaply green hydrogen, on-demand.”
Green hydrogen could provide up to 24 per cent of our energy needs by 2050, helping to cut emissions by around a third. In doing so, the transition to green hydrogen could provide $11 trillion of infrastructure investment opportunities over the next 30 years and direct annual revenues of $2.5 trillion.
To date, ninety countries, comprising 80 per cent of the world’s GDP, now have commitments to meet net-zero emissions in the coming decades, and more than 30 countries have hydrogen-growth strategies.
Favourable government commitments to fostering hydrogen innovation combined with concerns over greenhouse gas emissions are expected to continue to drive the demand for hydrogen, specifically green hydrogen, forward.
HPQ has agreed to pay EBH2 a cash payment of US$500,000 and issue 10,000,000 units at a price of C$0.70 per unit.
EBH2 agrees that both the cash and equity components of the transaction will be paid after an independent third party has validated that the EBH2 process works and can be scaled up to meet the energy requirement of HPQ Technologies.
EBH2 Systems SA is a Swiss company that is working on Hydrogen solutions.
HPQ Silicon Resources is a Quebec-based innovative silicon solutions company that offers innovative silicon-based solutions and is developing a unique portfolio of high value-added silicon (Si) products sought after by battery and electric vehicle manufacturers.
HPQ-Silicon Resources Inc. (HPQ) is unchanged, trading at C$0.73 per share at 1:20 pm ET.
