- HPQ Silicon Resources Inc. (HPQ) has issued a notice of allowance regarding a patent application, and reports that HPQ patent agent has paid the required fees
- The US patent covers the PUREVAP™ QRR innovative process, which permits the one-step transformation of quartz into high purity silicon metal at reduced costs, energy input, and carbon footprint
- As a part of HPQ’s ongoing strategy of protecting and strengthening the PUREVAP™Intellectual Property Portfolio, a second patent application process was filed in 2019 and is currently advancing through the process
- Additionally, the HPQ board of directors approved the modification of the total number of shares that may be issued pursuant to its stock option plan
- The total number of shares has been increased by 17,500,000 shares from 4,500,000 shares to 22,000,000 shares, and as a result the consolidation of its current stock option plan into the new 2021 stock option plan
- HPQ Silicon shares (TSXV:HPQ) is up 5 per cent and is trading at $0.63 per share as of 2:10 p.m. EST
HPQ Silicon Resources (HPQ) has issued a notice of allowance regarding a patent application.
The company also confirmed that the HPQ patent agent has paid the required fees.
The US patent covers the PUREVAP™ QRR innovative process, which permits the one-step transformation of quartz into high purity silicon metal at reduced costs, energy input, and carbon footprint.
This advantage means that the PUREVAP™ QRR process produces a higher purity silicon material than traditional processes, and it does not require the extremely pure feedstock needed by conventional processes.
This means a 25 per cent reduction which potentially allows a 20 per cent cash cost advantage versus the lowest cost traditional silicon producer.
As a part of HPQ’s ongoing strategy of protecting and strengthening the PUREVAP™Intellectual Property Portfolio, a second patent application process was filed in 2019 and is currently advancing through the process.
High purity silicon is in high demand due to the underlying needs for silicon as feedstock solar and electronics, the emerging Batteries sectors.
New and efficient greenfield projects will be needed to meet demand, and the PUREVAP™ QRR technology is positioned to eventually become the industry’s option of choice.
Additionally, the HPQ board of directors approved the modification of the total number of shares that may be issued pursuant to its stock option plan.
The total number of shares has been increased by 17,500,000 shares from 4,500,000 shares to 22,000,000 shares and as a result the consolidation of its current stock option plan into the new 2021 stock option plan.
The maximum number of common shares that may be issued under the plan shall be equivalent to less than 10 per cent of the issued and outstanding common shares of HPQ.
HPQ Silicon Resources Inc. (HPQ) is up 5 per cent and is trading at $0.63 per share as of 2:10 p.m. EST.
