- PyroGenesis Canada’s (TSX:PYR) partner company has signed a letter of intent to work with Evonik Corp., one of Germany’s biggest chemical companies
- HPQ Silica Polvere Inc. has signed an agreement with Evonik Corp. to collaborate during the Fumed Silica Reactor pilot scale phase to validate its capability to produce low-cost, low-carbon material that meets Evonik’s specifications
- If successful, the team says the FSR could significantly advance the effort to bring silica production back to North America
- HPQ Silicon stock opened trading at $0.39 per share and PyroGenesis stock opened trading at C$0.94 per share
PyroGenesis Canada’s (TSX:PYR) partner company has signed a letter of intent to work with Evonik Corp., one of Germany’s biggest chemical companies.
PyroGenesis, a technology provider dedicated to decarbonizing heavy industry, has announced that HPQ Silica Polvere, a company which it is opting for a 50 per cent stake in with HPQ Silicon (TSXV:HPQ), has signed an agreement with Evonik Corp. to collaborate during the Fumed Silica Reactor (FSR) pilot scale phase. The objective is to validate the FSR project’s capability to produce low-cost, low-carbon material that meets Evonik’s specifications.
Evonik has already confirmed that HPQ Polvere’s initial samples meet their standards. The next step is to scale up the process and ensure that the material continues to comply with Evonik’s requirements.
PyroGenesis has been developing and building a unique technology that transforms quartz (SiO2) into fumed silica (pyrogenic silica) in one step, avoiding the harmful chemicals used in traditional methods. If successful, the team says the FSR could significantly advance the effort to bring silica production back to North America.
Fumed silica is a white microstructure powder that absorbs moisture, has a high surface area, and a low bulk density. Commonly used as a thickening agent, anti-caking agent and stabilizer, fumed silica improves the texture and consistency of products. Its commercial applications span numerous industries and thousands of product lines, including personal care, powdered food, pharmaceuticals, agriculture (food and feed), adhesives, paints, sealants, construction, batteries and automotive.
“Today’s news announcing the signing of a letter of intent with Evonik is another step towards confirming the unique potential for the FSR, a ground-breaking technology and process that our engineers developed with both environmental and commercial considerations in mind,” PyroGenesis’ president and CEO, P. Peter Pascali, said in a news release. “We look forward to engaging with Evonik and HPQ as the process moves forward.”
According to Fact.MR’s outlook to 2035, the fumed silica market, valued at US$1.3 billion in 2022, is expected to grow at a compound annual growth rate of 5 per cent to reach US$2.1 billion by 2032. Fumed silica sales accounted for almost 23 per cent of the global specialty silica market at the end of 2021.
Evonik Corp. is a global specialty chemicals company, the second-largest in Germany, that manufactures a wide range of high-performance materials, including fumed silica.
HPQ Silicon is a green technology stock focused on producing the critical materials needed to reach net-zero emissions. The company’s efforts are centred on fumed silica, high-purity silicon, silicon-based anode materials for battery applications, and on-demand hydrogen production.
PyroGenesis offers advanced plasma processes and sustainable solutions that reduce greenhouse gases. The company’s proprietary plasma technologies are being vetted and adopted by multi-billion-dollar industry leaders in iron ore pelletization, aluminum, waste management and additive manufacturing.
HPQ Silicon stock (TSXV:HPQ) opened trading at $0.39 per share. The stock has gained more than 66 per cent in the past month.
PyroGenesis stock (TSX:PYR) opened trading at C$0.94 per share. The stock has gained more than 58 per cent in the past month.
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(Top image: Evonik Corp.)
