leadf
logo-loader
viewPyroGenesis Canada Inc.

PyroGenesis says new preorder for nano powders from big auto manufacturer validates its investment in HPQ Nano Silicon Partners

The company recently took an ownership interest in HPQ Nano Silicon Powders, with a 10% royalty on future sales and the option to convert the royalty into a 50% ownership stake

PyroGenesis Canada Inc. -
The subsidiary received a pre-order for spherical nano silicon powders from a major auto manufacturer

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) hailed its partner HPQ Silicon Resources Inc’s announcement that it had received a pre-order for spherical nano silicon powders from a major auto manufacturer.

PyroGenesis and HPQ Silicon are collaborating on the PUREVAP Nano Silicon Reactor (NSiR), a new proprietary process that can use different purities of silicon as feedstock to make spherical silicon nanopowders and nanowire. The process uses low cost, highly reactive carbon sources and converts them into high purity silicon metal for use in things like solar panels and electronic semiconductors.

The Montreal-based company recently took a material interest in HPQ subsidiary HPQ Nano Silicon Powders Inc, with a 10% royalty on future sales and the option to convert the royalty into a 50% ownership stake.

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

In a statement, PyroGenesis CEO Peter Pascali told shareholders that the news reaffirms the company’s decision to take an ownership stake in HPQ Nano.

“To receive this type of validation mere weeks after signing a development agreement with HPQ Silicon, and mere days after a major battery conference, which highlighted the importance of such products, is astounding,” Pascali told investors.

“We are excited to see HPQ NANO effectively taking pre-orders from giants in the industry who, based on our experience, are not in the habit of wasting their time.”

Pascali said that the firm believes its ownership in HPQ will become a “significant contributor” to its bottom line.

“Although this deal has not yet been concluded and, until it is completed there are risks that it may not be, it does confirm that we are on the right path, in the right industry, with the right products, and with the right partner,” Pascali added.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

 

Quick facts: PyroGenesis Canada Inc.

Price: 9.34 CAD

TSX:PYR
Market: TSX
Market Cap: $1.49 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of PyroGenesis Canada Inc. named herein, including the promotion by the Company of PyroGenesis Canada Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

PyroGenesis Canada gives revenue guidance that more than doubles full year...

PyroGenesis Canada Inc (TSX:PYR) (OTCQB:PYRNF) (FRA:8PY) CEO Peter Pascali tells Proactive the high-tech plasma focused group expects to see an uplift in revenue and earnings per share in its fourth quarter to December 31 and for full-year 2020. Pascali says the group said it expects revenue...

on 19/1/21

2 min read