HPQ ships first industrial batches of Endura+ cells

Executive Summary

• HPQ Silicon Inc. completed and shipped the first industrial batches of its HPQ Endura+ lithium‑ion battery cells (18650 / 21700 formats) to Montreal, marking transition from pilot testing to market engagement.
• The company confirmed finalized product specification sheets for both cell formats (4,000 mAh 18650, 6,000 mAh 21700) with up to 1,000 charge cycles.
• Board resolution extended the exercise date of 2,107,318 outstanding share purchase warrants to November 23 2027; exercise price remains $0.30 per share.

Key Details

• Shipment: First industrial batches of HPQ Endura+ cells completed and en route to Montreal for evaluation by prospective customers in mobility, electronics, defence, and telecommunications sectors.
• Cell Formats & Specs:
• 18650 – 4,000 mAh, up to 1,000 charge cycles.
• 21700 – 6,000 mAh, up to 1,000 charge cycles.
• Production Capacity: Previously announced target of up to 1.5 million cells per year through partnership with Novacium SAS; pre‑commercial production now underway.
• Manufacturing Approach: Cells subcontracted to an established large‑scale battery manufacturer, enabling high‑throughput production without new infrastructure.
• Market Positioning: Compared to typical market 18650 cells (2,500–3,500 mAh, <500 cycles, $4.50–$8.00 per cell), HPQ’s higher‑energy, longer‑life cells aim to capture value in the North American cylindrical‑cell market.
• Warrant Extension: Board resolution (Sept 17 2025) extends exercise date of 2,107,318 warrants (1,125,500 expiring Nov 17 2025; 981,818 expiring Nov 23 2025) to Nov 23 2027; exercise price unchanged at $0.30 per share. Extensions pending TSX Venture Exchange and regulatory approval.

Notable Quotes

• “These first shipments demonstrate our ability to execute and move swiftly from R&D to commercial readiness,” said Bernard J. Tourillon, Chairman, President & CEO.
• “We are now in a position to put our batteries in front of customers, backed by real performance data and a clear path to scaled production.”