- PyroGenesis (TSX:PYR), a sustainable technology stock, has agreed to a debt-to-equity conversion of $4,941,440 it is owed by HPQ Silicon (TSXV:HPQ)
- The payment is for work performed since Q3 2022 as a service provider, intellectual property developer and project subcontractor
- PyroGenesis designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that reduce greenhouse gases at attractive economics
- PyroGenesis stock has added 21.43 per cent year-over-year as well as since 2019
PyroGenesis (TSX:PYR), a sustainable technology stock, has agreed to a debt-to-equity conversion of $4,941,440 it is owed by HPQ Silicon (TSXV:HPQ) for work performed since Q3 2022 as a service provider, intellectual property developer and project subcontractor.
PyroGenesis is designing, engineering and building a technology for HPQ Silion subsidiary, HPQ Silica Polvere, that converts quartz into fumed silica while meaningfully cutting costs and emissions compared to conventional methods. The so-called Fumed Silica Reactor‘s clear value-add positions it to find a place in a growing US$1.45 billion global market.
Consideration includes 17,968,873 units priced at $0.275, with each unit containing one HPQ share and one share purchase warrant. Each warrant entitles PyroGenesis to acquire one HPQ share for $0.285 for up to two years following the closing of the debt-to-equity conversion.
The shares and warrants will be subject to a hold period of four months and one day from the date of issuance, as per applicable Canadian securities legislation.
HPQ Silicon stock last traded at C$0.23, with investors having collected 9.52 per cent year-over-year and 187.50 per cent since 2019.
Leadership insights
“PyroGenesis and HPQ continue to work together on important projects including the Fumed Silica Reactor initiative,” P. Peter Pascali, PyroGenesis’ president and chief executive officer, said in a statement. “With the first series of process material tests commencing in January 2025, we are excited by what the future holds for the Fumed Silica Reactor technology and for what we believe will transform fumed silica manufacturing for the better.”
About PyroGenesis
PyroGenesis designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that reduce greenhouse gases at attractive economics.
PyroGenesis stock (TSX:PYR) last traded at C$0.51 per share. The stock has added 21.43 per cent year-over-year as well as since 2019.
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(Top photo of fumed silica: HPQ Silicon)