HPQ test produces commercial-grade fumed silica

Executive Summary

• HPQ Silicon Inc.'s subsidiary, HPQ Silica Polvere Inc. (HSPI), successfully produced commercial-grade fumed silica during test No. 6 of its proprietary fumed silica reactor (FSR) pilot project.
• The test, conducted by technology supplier PyroGenesis Inc., achieved a specific surface area of 136 m²/g, meeting commercial specifications for grades 90, 130, and the lower range of grade 150.
• The company clarified terms of a previously announced loan agreement, specifying conversion and warrant exercise prices.

Key Details

• Pilot Test Results (Test No. 6):
  • Conducted by PyroGenesis Inc.
  • Achieved a specific surface area of 136 m²/g.
  • Surface area increased by 309% compared to the previous test (Test No. 5).
  • Results fall within HPQ's internal lab-scale benchmark range of 135 to 185 m²/g.
  • Meets commercial grade requirements: Grade 90 (75–105 m²/g), Grade 130 (105–155 m²/g), and lower range of Grade 150 (135–165 m²/g).
  • Carbon-based impurities were eliminated.
  • Scanning electron microscope (SEM) analysis confirmed morphological features consistent with commercial-grade fumed silica.
• Strategic Context:
  • Results validated by a leading global fumed silica manufacturer with whom HPQ maintains a letter of intent (LOI).
  • CEO Bernard Tourillon stated the next phase aims to push surface area performance into the 200 m²/g-plus range to target high-demand market segments.
• Loan Agreement Clarification:
  • Clarifies terms from the Aug. 20, 2025, press release.
  • Loan convertible into units at a price of 18 cents per unit.
  • Accompanying warrants exercisable at 25 cents per share.
  • Warrant period is four years.
  • All other terms of the agreement remain unchanged.

Notable Quotes

• "With test No. 6, we achieved a core objective: demonstrating that our fumed silica reactor can replicate lab-scale surface area results at pilot scale... confirming that we can now produce commercial-grade fumed silica in a single-step, scalable operation." — Bernard Tourillon, President and CEO
• "Our next phase will focus on pushing surface area performance into the 200 m2/g-plus range, which represents the high-demand segment of the commercial market... we believe the remaining challenges are manageable and that our pathway to commercialization remains strong." — Bernard Tourillon, President and CEO