- HPQ Silicon Resources (HPQ) has received confirmation that the PUREVAP Quartz Reduction Reactor pilot plant is now functional
- HPQ will begin using the material for downstream testing and the production of more HPQ high value add products
- HPQ Silicon Resources Inc is a mineral exploration company
- HPQ-Silicon Resources Inc. (HPQ) is up 7.3 per cent, trading at C$0.44 per share at 3:15 pm ET
HPQ Silicon Resources (HPQ) has received confirmation from PyroGenesis Canada that the PUREVAP Quartz Reduction Reactor pilot plant is now functional.
PyroGenesis Canada was contracted to build the plant.
The pilot plant will now be tested under operational conditions to produce high purity silicon material.
As the test work advances, HPQ will begin using the material for downstream testing and the production of more HPQ high value add products, providing samples to allow product customization and planning the deployment of commercial-scale production systems capable of producing 2,500 tonnes per year of high purity silicon material.
Mr. Bernard Tourillon, President and CEO of HPQ Silicon, commented on the news.
“With the PUREVAP GEN3 QRR pilot plant functional, HPQ is ready to disrupt Silicon manufacturing, an industry that still relies on a traditional process developed in 1899 to make silicon. The PUREVAP QRR pilot plant could not have come online at a more opportune time. Demand for traditional silicon is estimated to exceed 3.8 million tonnes by 2025. This represents an addressable market worth over US$ 10 billion based on the historical average selling price for 5.5.3 Si (98.5% Si) of US$2,600 per tonne, or over US$ 38 billion based on the average spot price for 5.5.3 Si of US$10,000 per tonne obtained during Q4 2021 and Q1 2022. These numbers do not include the demand that is about to come online for high purity silicon from the battery and high-performance material companies just as bottlenecks we had foreseen are now occurring in the silicon supply chain.”
“With ESG principles playing an active role in materials sourcing, and recent geopolitical unrest emphasizing the need for stable trade partners and security of supply, the world is more aware of the difficulties in securing the ESG compliant Silicon needed to meet its renewable energy goals. The reality of chronic underinvestment in new technologies and the offshoring of Silicon production capacity has created a massive opportunity for HPQ and its PUREVAP QRR patented process. HPQ is the only company to bring a new process for making Silicon that is perfectly suited to the new demands and realities of the Silicon market,” he added.
HPQ Silicon Resources is a Quebec-based innovative silicon solutions company 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 up 7.3 per cent, trading at C$0.44 per share at 3:15 pm ET.
