- PyroGenesis Canada has reacquired the intellectual property rights to the Purevap Nano Silicon Reactor on a no-cost basis
- The company originally designed the technology for HPQ Silicon, which decided to abandon commercial development because of poor market conditions
- PyroGenesis Canada develops advanced plasma processes and sustainable solutions that reduce greenhouse gases
- PyroGenesis stock has given back 66.14 per cent year-over-year and 30.65 per cent over the past five years
PyroGenesis Canada (TSX:PYR) has reacquired the intellectual property (IP) rights to the Purevap Nano Silicon Reactor on a no-cost basis.
The news follows HPQ Silicon’s (TSXV:HPQ) decision, announced in November 2023, to no longer pursue commercial development of the technology because of unfavourable market conditions. This caused all rights to the reactor to revert back to PyroGenesis at no additional cost, as per the companies’ 2020 agreement.
PyroGenesis originally developed the reactor on behalf of HPQ Nano Silicon Powders – a wholly owned subsidiary of HPQ Silicon – to enable the use of different purities of silicon as feedstock to produce spherical silicon powders and wires. These materials could potentially be used as a replacement metal in lithium-ion batteries, leading to greater capacity, improved charging speed and reduced self-discharging.
Nano silicon can also be combined with water to produce twice the amount of green hydrogen compared with conventional hydrolysis, significantly lowering per-unit costs on the green hydrogen market.
Nano silicon production aligns with PyroGenesis’ three-tiered solution ecosystem to capitalize on the economic drivers of heavy industry, specifically the commodity security and optimization tier, which focuses on enhancing the recovery and production of critical materials.
According to Grand View Research, the global silicon market was valued at US$21.33 billion in 2023, and will grow at a compound annual growth rate of 6 per cent through 2030, thanks to the material’s varied use-cases across personal care, construction, consumer goods and industrial processes.
“Nano silicon is still in its infancy, and so is the understanding of its usefulness. Reacquiring the intellectual property related to the Purevap Nano Silicon Reactor allows us to continue to explore the full spectrum of possibilities for this metal,” P. Peter Pascali, president and chief executive officer of PyroGenesis, said in a statement.
About PyroGenesis
PyroGenesis Canada develops advanced plasma processes and sustainable solutions that reduce greenhouse gases. The company’s plasma-torch technologies are being evaluated by numerous multi-billion-dollar industry leaders across iron ore pelletization, aluminum, waste management and additive manufacturing.
PyroGenesis stock (TSX:PYR) last traded at C$0.43 per share. The stock has given back 66.14 per cent year-over-year and 30.65 per cent over the past five years.
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