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PyroGenesis inks C$3M silicon powder production deal with HPQ Nano Silicon Powders

The contract has been developed to utilize the benefits of PyroGenesis’ PUREVAP Nano Silicon Reactor (NSiR) to produce nano silicon powder for the battery market

Black metal powder
The deal pays PyroGenesis $2.4 million for the intellectual property rights to the PUREVAP NSiR process,  with a 10 % royalty on HPQ Nano Silicon’s future sales

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) has signed a roughly $3 million contract with HPQ Nano Silicon Powders Inc to produce its namesake powder, the company announced Tuesday.

The contract was developed to utilize the benefits of PyroGenesis’ PUREVAP Nano Silicon Reactor (NSiR) to produce nano silicon powder for the battery market. 

Specifically, the agreement consists of two parts. The first will see PyroGenesis modify its existing GEN2 PUREVAP QRR to produce silicon nano powders and nanowires, and the second will involve the design and manufacturing of a semi-continuous process system with a commercial production capacity of at least 300 kilograms per month.

READ: PyroGenesis updates earnings guidance for its upcoming quarter and full year results, signifying confidence in revenue growth

The deal pays PyroGenesis $2.4 million for the intellectual property rights to the PUREVAP NSiR process,  with a 10 % royalty on HPQ Nano Silicon’s future sales. The company will also retain a royalty-free, exclusive license to use the system for other purposes. This royalty stream can be converted by PyroGenesis into a 50% stake in its client at any time.

“This agreement represents another significant milestone in our relationship with HPQ,” PyroGenesis CEO Peter Pascali said in a statement. “Battery storage is the future and it is indeed exciting for us to now be using our plasma expertise in addressing the challenges facing the lithium battery market.”

HPQ Nano Silicon Powders is a subsidiary of HPQ Silicon Resources Inc.

 “This milestone is also a testament to what can be achieved when two companies, and their boards, work together with a common purpose and a clear understanding of the many unforeseen challenges in bringing such product lines to fruition,” Pascali added. 

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: PyroGenesis Canada Inc.

Price: 3.49 CAD

TSX-V:PYR
Market: TSX-V
Market Cap: $537.69 m
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