HPQ Well-funded to Advance Its Silicon and Nano-silicon Materials Initiatives in Both Batteries & Hydrogen
04 Marzo 2021 - 2:36PM
Innovative silicon solutions provider HPQ Silicon Resources Inc.
(“HPQ” or the “Company”) (TSX-V: HPQ; FWB: UGE; Other OTC
:HPQFF), is pleased to update investors on its financial position.
Since January 1, 2021, the Company has raised an additional
$1,269,250 through the exercise of options and warrants, and
currently has over CAD$7.4 million cash equivalent in hand.
HPQ has the money to support it
aggressive development strategyIn addition to the CAD$7.4
million, the cash value of outstanding in- the- money warrants (93%
of them owned by PyroGenesis Canada Inc, Investissement Quebec
(IQ), insiders and strategic investors) and options represent an
additional $11.6 M cash available to fund our projects going
forward.
“With access to over $19 M, HPQ has the
necessary funds to continue its research and development to
commercialization, of our PUREVAP™ family of processes. The funds
available will also allow HPQ to investigate other potential game –
changing opportunities. HPQ continues to look for synergistic
opportunities in order to remain at the forefront of innovative
processes for the storage and delivery of clean renewable energy,”
said Bernard Tourillon, Chairman and CEO of HPQ Silicon Resources
Inc. “HPQ’s Silicon R&D Consortium has the depth and
flexibility to meet the challenges, as we strive to produce
products for renewable energy storage participants and electric
vehicle manufacturers, each of which is searching for
cost-effective ways to increase the Silicon content of their
batteries. We are very confident that the Silicon materials we are
developing, with our expected low-cost scalable processes, will be
in high demand for batteries, and by EV manufacturers and other
participants in the ongoing renewable energy revolution.”
About HPQ Silicon ResourcesHPQ
Silicon Resources Inc. (TSX-V: HPQ) is a Quebec-based company
that offers innovative 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.
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. (TSX: PYR), a
high-tech company that designs, develops, manufactures and
commercializes plasma - based processes, HPQ is developing the
PUREVAPTM “Quartz
Reduction Reactors” (QRR), an innovative process (patent
pending), 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 different purities of silicon (Si) as
feedstock, to make a wide range of nano/micro spherical powders of
different sizes and nanowires.
HPQ continues working with industry leader
Apollon Solar of France, and to
develop the hydrogen generation potential of Silicon nanopowders
for use with the GennaoTM system and to commercialize, exclusively
in Canada, and non-exclusive in the U.S.A., the GennaoTM H2 system
and the chemical powders required for the hydrolysis production of
hydrogen ("H2"). For more information, please visit HPQ Silicon web
site.
Disclaimers:The Corporation’s interest in
developing the PUREVAP™ QRR and any projected capital or operating
cost savings associated with its development should not be
construed as being related to the establishing the economic
viability or technical feasibility of any of the Company’s Quartz
Projects.
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 Resources Inc.For
further information contact:Bernard J. Tourillon,
Chairman, President and CEO Tel +1 (514) 907-1011Patrick Levasseur,
Vice-President and COO Tel: +1 (514) 262-9239Email:
Info@hpqsilicon.com
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