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PyroGenesis Canada partner HPQ Silicon Resources says interest in silicon metal products remains strong

The company is seeing 'meaningful interest' from the battery industry in its PUREVAP RRQ Silicon Metal, which is used as a feedstock to manufacture spherical silicon metal nano powders and nanowires for lithium-ion batteries

PyroGenesis Canada Inc. -
HPQ plans to manufacture sufficient batches of material to deliver samples to battery makers and research centres

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) partner HPQ Silicon Resources Inc (CVE:HPQ) said Monday that interest for its silicon metal products remains strong in the face of the coronavirus outbreak.

The company is seeing “meaningful interest” from the battery industry in its PUREVAP RRQ Silicon Metal, which is used as a feedstock to manufacture spherical silicon metal nano powders and nanowires for lithium-ion batteries.

“The COVID-19 outbreak, possible recession and low oil prices don’t change the long-term cyclical movement of the Renewable Energy Revolution,” HPQ’s CEO Bernard Tourillon said in a statement.

READ: PyroGenesis secures first payment of $25M DROSRITE aluminum processing contract

Tourillon said the short-term business interruption has “no bearing” on the long-term potential of its technology.

“Interest in the potential for silicon metal’s potential to contribute to energy storage demand is undeniable and generating massive investments, as well as, serious industry interest,” Tourillon told shareholders.

“This was true before the COVID-19 outbreak and will be true after.”

HPQ said it was delaying the start of the Gen3 pilot plant commissioning and testing program until further notice as the pandemic continues.

Once the pandemic is over, HPQ said its primary focus will be to manufacture sufficient batches of material to deliver samples to battery makers and research centres.

Montreal-based PyroGenesis is working with HPQ to develop the PUREVAP Silicon Metal Nano Reactor, a proprietary process that uses different purities of silicon metal melted into liquid Si and synthesized into feedstock for lithium-ion batteries.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 1.07 CAD

TSX-V:PYR
Market: TSX-V
Market Cap: $149.71 m
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