MONTREAL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: O08), a technology company specializing in green engineering of silica and silicon-based materials is pleased to announce that HPQ and its Lyon-based affiliate, Novacium SAS, have signed a three-party memorandum of understanding (MOU) with LN INNOV’ SAS of Toulouse, France.
LN INNOV’ is a French networking company with a strong presence in various sectors, including Defense.
Leveraging its extensive network, LN INNOV' aims to streamline access to innovative energy projects like the one presented by Novacium and HPQ. Their goal is to connect key industry stakeholders and expedite the transition of innovative projects from the research and development phase to commercialization.
"France has set the goal of becoming the world leader in green hydrogen, considered an energy carrier that will play a key role in achieving carbon neutrality by 2050. Novacium's new hydrogen production system will help meet these objectives,” said Mrs. Nathalie MAZEAU, LN INNOV' CEO. “With its experience in autonomous energy systems, LN INNOV' wishes to democratize this technology through its simplified use and logistics, essential markers for its success.”
The goal of this three-party agreement is to harness LN INNOV's expertise and introduce Novacium's new, environmentally friendly high-pressure hydrogen production system via hydrolysis (as detailed in the September 7, 2023, press release) to French defense industry companies.
NOVACIUM TO PRESENT ITS HYDROGEN SOLUTION TO A GROUP OF FRENCH INDUSTRIALS
LN INNOV' has already arranged for Novacium to be invited to present its innovative hydrogen solution at the next Energy Working Group (EWG) meeting of the “Groupement des Industries Françaises de Défense et de Sécurité Terrestre et Aéroterrestre” (GICAT), scheduled for the last week of September 2023.
“Novacium's hydrogen production system stands out for its capacity to re-imagine hydrogen production, simplifying it while ensuring safety and minimizing transportation requirements,” said Mr. Bernard Tourillon, President and CEO of NOVACIUM SAS and HPQ Silicon Inc. “This innovation holds significant promise for hydrogen's role as a clean and secure energy source in diverse industrial and military applications. Being invited to present our solution to such a grouping represents a significant opportunity, which we hope will open the doors to important future collaborations with manufacturers."
The MOU, signed on May 15, 2023, designates LN INNOV’ as the exclusive French representative for a 1kW version of the hydrogen system.
About NOVACIUM SAS
Novacium is green technology startup based in Lyon, France started in Q3 2022. It is the result of a partnership between three of France’s leading research engineers, Mr. Jed KRAIEM PhD, Novacium's Chief Operating Officer (“COO”), Mr. Oleksiy NICHIPORUK PhD, Novacium's Chief Technical Officer (“CTO”), and Mr. Julien DEGOULANGE PhD, Novacium’s Chief Innovation Officer (“CIO”), who wanted to start a new Research and Development company to develop their own technology in high added value fields connected to renewable energy, and HPQ Silicon Inc, a Canadian company, looking to expand the depth and reach of technical team in order to develop its silicon and new renewable energy projects.
About HPQ Silicon
HPQ is developing, with the support of world-class technology providers PyroGenesis Canada Inc and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions.
HPQ activities are centred around the following five (5) pillars:
Becoming a zero CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our proprietary PUREVAPTM “Quartz Reduction Reactors” (QRR) being developed for HPQ by PyroGenesis.
Becoming a producer of silicon-based anode materials for battery applications with the assistance of NOVACIUM SAS.
Becoming a green low-cost (Capex and Opex) producer of Fumed Silica using our proprietary FUMED SILICA REACTOR being developed by PyroGenesis.
HPQ SILICON affiliate NOVACIUM SAS is developing a low carbon, chemical base on demand and high-pressure autonomous hydrogen production system.
Working to become the first producer of nano silicon materials from High Purity Silicon chunks using our proprietary PUREVAPTM Nano Silicon Reactor (NSiR) being developed by PyroGenesis.
For more information, please visit HPQ Silicon web site.
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 ongoing filings with the security’s 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.
This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Source: HPQ Silicon Inc.
For further information contact:
Bernard J. Tourillon, Chairman, President, and CEO Tel +1 (514) 846-3271
Patrick Levasseur, Director Tel: +1 (514) 262-9239