MONTREAL, Sept. 13, 2018 (GLOBE NEWSWIRE) -- HPQ Silicon Resources Inc (“HPQ”) (TSX VENTURE:HPQ) (FRANKFURT:UGE) (OTC PINK:URAGF) is pleased to inform shareholders that PyroGenesis Canada Inc (PyroGenesis) (TSX Venture: PYR) has taken delivery of the Gen3 PUREVAPTM “Quartz Reduction Reactor” (“QRR”) furnace, a key component of the pilot equipment. Furthermore, HPQ has made another milestone payment of $561,600 to PyroGenesis. Since August 2016, HPQ has invested $3,988,400 for the pilot equipment, representing 90% of the $4,430,000 design, fabrication and assembly budget. Delivery of the furnace marks the start of the assembly phase of the Pilot Plant in an HPQ - dedicated area at the production facility of PyroGenesis in Montréal. The Pilot Plant assembly will be completed during Q1 2019, commissioned during Q2 2019 and operational mid – 2019, only 3 years after the original concept was validated.
VALIDATING COMMERCIAL SCALABILITY OF INNOVATION REQUIRES FOCUS AND FLEXIBILITY
The Pilot Plant will have an output capacity of 50 tonnes per year, or ~ 1,000 kg of material per week. This step in the program is the single largest scaling up step and, once successful, will pave the way for the order of HPQ first commercial production unit, planned for 2020.
Using the data generated by the Gen2 PUREVAPTM tests and Apollon Solar technical knowhow, HPQ and PyroGenesis will continue to look for ways of optimizing our approach of validating the commercial scalability of the process while mitigating the technical and commercial risks associated with the project.
Bernard J. Tourillon, Chairman, President and CEO of HPQ Silicon stated, “We are very excited to move to this final stage of the PUREVAP™ QRR testing program. Now that we have closed all necessary financings, we can focus efforts on the process improvements, scalability, seeking customers, and preparing for commercialization. With these financings closed, our objective going forward will be delivering on the Gen3 PUREVAP™ Pilot Plant phase with our “Solar Silicon Team” as well as building market awareness of our progress, plans and success.”
This Press Release Is Available On The Company's CEO Verified Discussion Forum, A Moderated Social Media Platform That Enables Civilized Discussion and Q&A’s Between Management and Shareholders. https://agoracom.com/ir/HPQ-SiliconResources/forums/discussion
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar, that are experts in their fields of interest, the innovative metallurgical PUREVAPTM “Quartz Reduction Reactors (QRR)” process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (Si) in one step and reduce by a factor of at least two-thirds (2/3) the steps required to transform quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule to start mid-2019.
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 on-going filings with the securities 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.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011
Patrick Levasseur, COO Tel: (514) 262-9239
Shares outstanding: 222, 284,053
Source: HPQ-Silicon Resources Inc.
2018 GlobeNewswire, Inc., source Press Releases