This Contract has been developed to exploit the benefits of the novel PUREVAP™ Nano Silicon Reactor (NSiR) to make nano Silicon powder with the battery market as a principle target. Specifically, this program has been divided into two phases; i) to modify the existing GEN2 PUREVAP™ QRR in order to produce silicon nano powders and nanowires needed for the next generation of Lithium-ion (Li-ion) Si batteries, and ii) to design and manufacture a semi-continuous process system with a commercial production capacity of at least 300 kg/month (or about 3.5 MT/year) of nano silicon powders.
Research1 indicates that replacing graphite with nano silicon powders could allow the manufacturing of high-performance Li-ion batteries with the capability of delivering an almost tenfold (10x) increase in anode capacity, inducing a 20-40% gain in the energy density of the next generation of Li-Ion batteries. The Li-ion battery market size is estimated to grow from
This Agreement includes
“This Agreement represents another significant milestone in our relationship with HPQ. 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,” said M. P Peter Pascali, President and CEO of PyroGenesis. “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.”
About
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 Corporation'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 Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation 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
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For further information please contact:
Rodayna Kafal, Vice President Investors Relations and Strategic Business Development
Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
RELATED LINK: http://www.pyrogenesis.com/
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1 https://cen.acs.org/materials/energy-storage/battery-materials-world-anodes-time/97/i14
2 https://www.marketsandmarkets.com/Market-Reports/lithium-ion-battery-market-49714593.html#:~:text=Lithium%2DIon%20Battery%20Market%20size,at%20a%20CAGR%20of%2016.4%25.
3 HPQ Corporate presentation 2020-06-30 https://hpqsilicon.com/wp-content/uploads/2020/06/HPQ-NEW-FULL-SIZE-VER_JUNE_30_2020.pdf
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