HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ, OTCQB: HPQFF, FRA: O08), a technology company driving innovation in advanced materials and critical process development, announces the completion of the previously announced transaction under which PyroGenesis Inc. (“PyroGenesis”) converted its 10% gross sales royalty into a 50% ownership interest in HPQ Silica Polvere Inc. (“HSPI”).
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Inc. → drive → Inc.
The transaction was completed after HPQ and PyroGenesis executed a definitive shareholders’ agreement and completed the related share transfer.
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HPQ → complete → transfer
As a result, HPQ and PyroGenesis now each hold a 50% ownership interest in HSPI, the rights holder of the proprietary Fumed Silica Reactor (“FSR”) technology.
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HPQ → hold → technology
In a separate release issued today, PyroGenesis provides an update on preliminary discussions concerning potential applications of the FSR.
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PyroGenesis → issue → FSR
HPQ summarizes those discussions below because they concern HSPI, which the companies now own equally.
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companies → summarize → which
No definitive commercial agreement has been entered into in respect of any of these opportunities.
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agreement → enter → opportunities
50/50 Ownership Establishes Common Commercialization Platform
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Ownership → establish → Platform
Before completing the transaction, HPQ wholly owned HSPI and funded FSR development through the pilot phase.
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HPQ → complete → phase
PyroGenesis developed and built the FSR and remains HSPI’s exclusive equipment supplier for its commercialization.
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PyroGenesis → develop → commercialization
The FSR converts quartz (SiO₂) directly into fumed silica in a single step, eliminating the need for chlorosilanes and the associated hydrogen chloride (HCl) generation found in conventional production methods.
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FSR → convert → methods
As HPQ disclosed on July 8, 2026, the FSR pilot program achieved its two principal objectives: demonstrating the production of commercial-grade fumed silica directly from quartz and generating the engineering and operating data required to support the design, costing and economic evaluation of future commercial production facilities.
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program → disclose → facilities
The pilot program produced commercial-grade “150” fumed silica, with independent testing validating its commercial performance.
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testing → produce → performance
Following the pilot program, PyroGenesis completed an extensive engineering review of the operating data generated during pilot production.
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PyroGenesis → follow → production
The results strengthened confidence in the projected operating parameters and commercial-scale economics of the FSR technology and provided HSPI with an improved engineering basis for evaluating potential commercial deployments.
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results → strengthen → deployments
No definitive agreement has been entered into for any of the opportunities described below, and there is no assurance that any will proceed.
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any → enter → opportunities
As described by PyroGenesis, discussions concerning the FSR involve four potential opportunities:
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discussions → describe → opportunities
Discussions have resumed with a global manufacturer of fumed silica that previously signed a letter of intent outlining collaboration during the FSR pilot phase.
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that → resume → phase
After completing the pilot objectives, the parties are evaluating potential frameworks for the next phase of collaboration, including opportunities to support commercial deployment of the FSR.
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parties → complete → FSR
An additional meeting is scheduled for the week of September 28 to discuss the potential go-forward framework.
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meeting → schedule → framework
Discussions have resumed regarding the previously announced potential joint venture for a 1,000 tonne-per-year fumed silica production facility.
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Discussions → resume → facility
According to PyroGenesis, its team recently met with the potential partner at one of its U.S. facilities to discuss proposed changes.
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team → accord → changes
Both sides received the proposed changes favorably, and negotiations have resumed.
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negotiations → receive → changes
Any joint venture remains subject to definitive agreements.
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venture → remain → agreements
Discussions continue with a potential Asian customer interested in establishing production capacity in North America.
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Discussions → continue → America
Discussions have included potential large-scale bulk supply and/or local FSR production facilities.
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Discussions → include → supply
According to PyroGenesis, the potential customer previously indicated that demand could require several 10,000 tonne-per-year FSR systems and has recently requested a meeting at PyroGenesis’ headquarters to accelerate discussions.
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demand → accord → discussions
PyroGenesis reports that discussions remain planned with an existing PyroGenesis customer with significant operations in the Middle East regarding a potential local fumed silica production facility.
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discussions → report → facility
Previous discussions contemplated a potential facility with production capacity of approximately 10,000 tonnes per year.
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discussions → contemplate → year
There can be no assurance that any discussion will result in a definitive agreement or commercial project.
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discussion → result → agreement
“Completing this transaction brings HPQ and PyroGenesis together as equal shareholders in HSPI,” said Bernard Tourillon, Chairman, President and CEO of HPQ Silicon and President and CEO of HSPI.
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Tourillon → complete → HSPI
“HPQ funded development of the FSR through the pilot phase, while PyroGenesis developed and built the reactor.
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PyroGenesis → fund → reactor
We now have a common ownership structure for decisions concerning the technology.”
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We → have → technology
“PyroGenesis has also provided an update on several preliminary commercial discussions involving the FSR.
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PyroGenesis → provide → FSR
These discussions are at different stages, and none has resulted in a definitive commercial agreement.
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none → result → agreement
We will report on any material developments as they occur.”
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they → report → developments
About HPQ Silica Polvere Inc. (“HSPI”) and the Fumed Silica Reactor (“FSR”)
HPQ Silica Polvere Inc. (“HSPI”) is jointly owned by HPQ Silicon Inc. and PyroGenesis Inc., with each holding a 50% ownership interest.
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each → own → interest
HSPI holds the rights to the proprietary Fumed Silica Reactor (“FSR”) technology, while PyroGenesis is the exclusive supplier of equipment for its commercialization.
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PyroGenesis → hold → commercialization
The FSR is a plasma-based technology that uses quartz (SiO₂) as feedstock to directly produce commercial-grade fumed silica in a single process.
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that → base → process
Unlike conventional production methods requiring chlorosilanes, the FSR eliminates the need for chlorosilane feedstock and the associated generation of hydrogen chloride (HCl).
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FSR → require → chloride
Expected benefits include lower capital and operating costs, reduced CO₂ emissions and energy footprint, simplified logistics, and reduced requirements for hazardous chemical handling and storage.
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benefits → include → handling
…and 18 more, not listed.
The Aporia
