PyroGenesis Signs LOI with Evonik for Fumed Silica Reactor Project

PyroGenesis Canada Inc., a high-tech company specializing in advanced plasma processes and sustainable solutions, has announced the signing of a letter of intent (LOI) between HPQ Silica Polvere Inc. (HPQ Polvere) and Evonik Corporation. Evonik is a global specialty chemicals company known for manufacturing high-performance materials, including fumed silica. The LOI was revealed by HPQ Silicon Inc., the parent company of HPQ Polvere.

The primary focus of HPQ Polvere is the Fumed Silica Reactor (FSR) project, which aims to develop a proprietary technology to convert quartz into fumed silica in an eco-friendly manner. This process eliminates the use of harmful chemicals typically generated by conventional methods. If successful, the FSR project could significantly contribute to the repatriation of silica production to North America.

PyroGenesis had previously announced its intention to convert its annual royalty rights into a 50% ownership stake of HPQ Polvere through a Design and Development Agreement. While the execution of the conversion is pending, both companies are finalizing key documentation, including a shareholder’s agreement.

The LOI with Evonik outlines a collaboration during the FSR pilot scale phase to validate the FSR’s ability to produce low-cost, low carbon material that meets Evonik’s specifications. Evonik has already confirmed the acceptability of HPQ Polvere’s first-generation samples and aims to scale up the current process to ensure continued compliance with their criteria.

P. Peter Pascali, President and CEO of PyroGenesis, expressed enthusiasm about the LOI, stating that it represents another step towards confirming the unique potential of the FSR technology. He emphasized that the FSR was developed with both environmental and commercial considerations in mind and looks forward to engaging with Evonik and HPQ as the process moves forward.

Fumed silica, a moisture-absorbing white microstructure powder, finds applications as a thickening agent, anti-caking agent, and stabilizer in various industries such as personal care, food, pharmaceuticals, agriculture, adhesives, paints, sealants, construction, batteries, and automotive. The fumed silica market, valued at US$1.3 billion in 2022, is projected to reach US$2.1 billion by 2032, growing at a CAGR of 5%. PyroGenesis’ involvement in developing fumed silica from quartz aligns with their three-tiered solution ecosystem, which focuses on economic drivers crucial to global heavy industry.

PyroGenesis Canada Inc. is a leading high-tech company that designs, develops, manufactures, and commercializes advanced plasma processes and sustainable solutions. Their proprietary plasma technologies have gained recognition and adoption by industry leaders in iron ore pelletization, aluminum, waste management, and additive manufacturing.

HPQ Silicon Inc., a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer, is developing green processes in collaboration with PyroGenesis Canada Inc. and NOVACIUM SAS to produce critical materials needed to achieve net-zero emissions.

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