HPQ Silicon Resources Inc. (“HPQ” or the “Company”)
(TSX-V: HPQ) (OTCQX: HPQFF) (FWB: UGE), an
innovative silicon solutions company, is pleased to announce that
technology provider PyroGenesis Canada Inc. (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY) has confirmed that the GEN3
PUREVAPTM Quartz Reduction Reactors (QRR) pilot plant project is
transitioning from the assembly phase to the commissioning and
testing phases of the program and that the start of the GEN3
PUREVAPTM QRR will be during Q4 2021.
Mr. Bernard Tourillon, President and CEO of HPQ
Silicon discusses the significance of this news in the following
Q&A format.
Q1. First, before we delve into
the specifics of this news, can we deal with the elephant in the
room, this is not the first time that HPQ and PyroGenesis have
mentioned starting dates for the GEN3 PUREVAPTM QRR pilot plant,
what is different this time?
A. The following images, just
taken in the HPQ dedicated section of PyroGenesis production
facility, of Mr. P Peter Pascali, President and CEO of PyroGenesis
and me next to a fully assembled GEN3 PUREVAPTM QRR pilot plant,
demonstrates the advancement of the project. We are awaiting one
final component that has been delayed due to COVID and now expect
it to arrive in Q3 – sometime this summer, after all the paperwork
and final inspection has been completed.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a807c986-2a13-4946-9755-244abe9d9556
Image 1) P. Peter Pascali, President and CEO of
PyroGenesis & Bernard Tourillon, President and CEO of HPQ
Silicon next to Gen3 PUREVAPTM QRR Pilot plant (right image blurred
for confidentiality)
Q2. Could you refresh investor
memories about the PUREVAPTM QRR process and how it compares versus
traditional processes to make silicon (Si)?
A. Certainly, the PUREVAPTM QRR
is a new innovative process, which will permit the one-step
transformation of quartz (SiO2) into high purity silicon metal
(>99.5% Si, referred to as 2N) (patent pending #1) at reduced
costs, energy input, and carbon footprint.
Q3 How does the process work
and how does it compare to processes currently being used?
A. I will answer that in
reverse order: As Image 2 below represents, traditional
carbothermic processes to make Silicon are two steps. The first
step shown here produces a semi – finished product that needs
further refinement but note the energy consumption of this first
step. This is almost equal to the entire energy input to make pure
silicon using QRR™. These conventional processes require extremely
pure feedstock, and the 6 to 1 feedstock to a semi - final product
ratio results in feedstock impurities being concentrated in the
silicon produced, which must be removed in complex and energy
intensive second and third steps.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a205a819-b9c5-493d-bdd3-bd8f7b989eca
Image 2) Conventional First Step Carbothermic
process, additional downstream refining is necessary
Furthermore, conventional carbothermic processes
also have these additional drawbacks:
-
New conventional plants are very capital intensive with a minimum
size requirement of 30,000 metric tonnes per year (MTY), with capex
exceeding USD$600 million for new industry entrants.
-
Conventional plants are not capable of having more than 40% of
their production at the minimum 99.5% Si (2N+) purity threshold
sought by end buyers from the Silicones, Polysilicon (Solar) and
Batteries sectors.
-
20% of the cost1 of the conventional process is directly
attributable to specific low ash coal demanded by the process,
however
-
For Western producers, a) there are only 2 sources in the world
that can supply it (the 100% Ferroglobe owned Blue Gem Coal and
Colombian coal)2; and b) a US$ 10 per MT increase in its cost
has a US$ 13 per MT produced impact on the producer’s bottom
line2.
_____________________1
Ferroglobe_Investor_Day_Presentation__17_Oct_2017 (Page 40) 2
Ferroglobe_Investor_Day_Presentation__17_Oct_2017 (Page 46 -41)
Now, to answer the first part, how does our QRR
process work? The central advantage of the process is its unique
capability (patent pending #2) of continuously operating a
carbothermic process under vacuum, resulting in the early removal
of impurities. As Image 3 below demonstrates, the PUREVAPTM QRR is
the only one – step carbothermic process that can make high purity
Silicon metal from quartz while efficiently removing most (99%) of
the impurities present in the feedstock. Importantly, the process
does not require the extremely pure feedstock required by
conventional processes to make high purity Si, and it also only
requires 4.5 MT of raw material to make 1 MT of Silicon, versus 6
MT of conventional.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/db9b3ac6-215f-4229-b0f2-68024cada295
Image 3) the PUREVAPTM QRR Process. One step from
Quartz to Pure Silicon Metal
Q4. What are the real-world
implications for the PUREVAPTM QRR unique capabilities?
A. The three main advantages to
QRR are as follows:
- the PUREVAP™ QRR once-step process
is capable of converting low quality inputs into the high purity
Silicon (Si)3 metal to produce the products desired by end buyers
from the Silicones, Polysilicon (Solar) and Batteries sectors. HPQ
will use this material as feedstock to produce our nano silicon
powders and wires.
- The PUREVAP™ QRR can match the
production yields of conventional processes4 at a much smaller
scale, providing for greater flexibility. The systems are
commercially scalable by increments of 2,500 MTY, and two 2,500 MTY
systems built in tandem will compete very well with the Capex cost
per Kg of annual capacity of Tier-1 producers for a fraction of the
total investment required (85% - 90% less).
- Finally, the PUREVAP™ QRR is a
disruptive technology that meets the demands of today’s world,
lower cost, less energy intensity, and smaller carbon footprint.
That smaller carbon footprint of the process is clearly critical in
helping reduce GHG’s, and this is before we start making carbon –
capture improvements to the system which our engineers are already
putting on the design board.
___________________3 HPQ February 26th 2019 Release 4 HPQ April
25th 2019 Release
Q5. Can you talk about the
addressable markets where this new process could make a
difference?
A. Certainly, the addressable
markets that can use HPQ PUREVAPTM QRR Silicon are enormous, and
they can be divided in 3 following market segments:
- The market for standard purity
silicon (98.5% to 99.5%, or 2N), according to CRU latest reports,
is estimated to reach 3 million MT worth over US$ 10 Billion by
2025.
- The bulk of the demand will be for
2N+ Si material used as feedstock for Silicone’s manufacturing, a
market worth US$ 14 Billion in 2020 that is expected to grow at a
CAGR of 10.7% to US$ 23 Billion in 2025 (source:
marketsandmarkets.com).
- According to
Facts and Factor Research, the global Solar Energy Market
in 2019 was approximately USD 50 Billion, it’s expected to surge at
a CAGR of 20% and surpass US$ 200 Billion by 2026. This will be a
key factor driving demand for Solar Grade Silicon (SoG-Si).
- Energy storage demand is about to
explode, with Investment dedicated to energy storage exceeding $40
billion by 2040 (BNEF) and this will have a massive impact in the
newly emergent market for Nano Silicon material for Li-Ion and
other batteries.
Q6. Final question, how excited
are you about the HPQ PUREVAP™ QRR project business case going
forward?
A. Tremendously I would say, I
have been scrutinizing the market forces that influence the Silicon
markets since 2015, and what excites me the most is the timing of
the start of the pilot plant, just as we are needing QRR made
feedstock for the battery revolution. It is very serendipitous. We
knew if we were to enter the market, we would need to bring
something very unique, or you could say, disruptive, in order to
compete. Our partners at PyroGenesis ((TSX: PYR)
(NASDAQ: PYR)) had the in-house capability to drive the
science and engineering behind our vision, so we entered into an
exclusive agreement in 2016.
At the start, the PUREVAPTM QRR project was
dedicated to developing a new, low cost, process to make Solar
Grade Silicon (“SoG-Si”) to meet the demand of an ever-expanding
solar market. Over time we realized that the operational
efficiencies of the QRR process combined with its unique cost
(Capex and Opex) advantages represented game changing opportunities
in many key segments of the Silicon industry for HPQ.
Demand for higher purity Silicon (2N+ Si),
materials that the PUREVAPTM QRR was designed to produce, but one
that traditional silicon producer have a difficult time making, is
about to enter a massive growth phase, driven by worldwide demand
from the silicones, solar, and batteries industries. The Covid-19
pandemic accelerated the closing of old inefficient traditional
Silicon plants and combining this with the chronic under investment
in new conventional Silicon plants that occurred in the past
decade, and the need for more efficient and environmentally
friendly processes has created a perfect storm for the industry.
HPQ should be a key beneficiary of this new reality.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is a leader in the
design, development, manufacture and commercialization of advanced
plasma processes and products. The Company provides its engineering
and manufacturing expertise and its turnkey process equipment
packages to customers in the defense, metallurgical, mining,
advanced materials (including 3D printing), and environmental
industries. 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 Company’s core competencies
allow PyroGenesis to provide innovative plasma torches, plasma
waste processes, high-temperature metallurgical processes, and
engineering services to the global marketplace. PyroGenesis’
operations are ISO 9001:2015 and AS9100D certified. For more
information, please visit www.pyrogenesis.com.
About HPQ Silicon ResourcesHPQ
Silicon Resources Inc. (TSX-V: HPQ) is a Quebec-based
innovative silicon solutions company that offers innovative silica
(SiO2), 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)
(NASDAQ: 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. 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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