HPQ Silicon Inc. updated its shareholders that it signed an NDA with an undisclosed party related to its Fumed Silica initiative. To facilitate more formal discussions, HPQ's wholly owned subsidiary, HPQ Silica Polvere Inc. along with the technology provider and equipment supplier, PyroGenesis Canada Inc. signed a Non-Disclosure Agreement with the Industrial Group. The purpose of the NDA is twofold: First, it will enable both parties, HPQ Polvere and the Industrial Group, to conduct mutual due diligence, and Second, it will enable both parties to assess the commercial and economic potential for a more formal collaboration regarding the construction and operation of a 1,000 tonnes per year (TPY) Fumed Silica Reactor to be built by PyroGenesis.

The commercial imperative to construct a 1,000 tonnes per year (TPY) Fumed Silica Reactor, driven by the anticipated demand for low carbon fumed silica materials, is evident. HPQ Polvere's commercialization strategy centers on scaling up capacity to meet this demand, including the addition of other 1,000 TPY Fumed Silica Reactor.