QIMC Contributes to HPQ Silicon Battery Initiative
Lachute, Québec--(Newsfile Corp. - March 14, 2023) - Québec Innovative Materials Corp. (CSE:QIMC) ("QI Materials" or the "Company") is pleased to announce that newly confirmed high purity silica samples have met the requirements for feedstock in HPQ Silicon Inc.'s ("HPQ") silicon-based battery material production in North America. The Company continues to move toward its main objective of developing the green economy as a supplier of high-grade silica in tandem with HPQ.
PROCUREMENT OF QUARTZ MATERIAL
As per the terms of the MOU between HPQ and QIMC (see September 14, 2022 news release), QIMC is to provide high grade silica for testing in HPQ's GEN3 PUREVAPTM Quartz Reduction Reactor ("QRR"). Silica samples from the Main Zone at the Charlevoix Project were delivered to HPQ in December 2022 and confirmed to be of high purity and in line with HPQ's compatibility requirements (see February 23 and January 27, 2023 news releases). HPQ has recently announced plans to build a silicon-based battery material production line in North America. QIMC will continue to support their shared objective of advancing the battery initiative to meet rapidly increasing demand. In an effort to accelerate the move to production, the Company continues to refine its purification methods for silica sand and continue discussions with potential buyers of silica materials.
"With our GEN3 QRR pilot plant program moving forward combined with our newly launched battery initiative, it is important for HPQ to be able to focus its energies and resources on developing our ground-breaking technologies while QIMC advances it promising Charlevoix Quartz Project," said Mr. Bernard Tourillon, President and CEO of HPQ Silicon Inc. "As we gain traction producing and selling our silicon battery materials, we will also be strengthening the values of our QRR projects. Therefore, if all continues to advance as we hope, we can foresee a time when HPQ could be using QIMC quartz to produce Silicon with our Gen4 PUREVAPTM QRR systems."
Additionally, the Company has entered into a Memorandum of Understanding ("MOU") with Ekopav, a Canadian company focused on innovative eco-friendly solutions for the paving industry. The MOU stipulates the procurement of a specific tonnage of silica sands from QIMC for Ekopav's manufacturing of commercial asphalt products. Either party may terminate the MOU after twelve (12) months without any obligation or liability to the other party. Silica materials used in production of asphalt products are not required to be metallurgical grade (98-98.9% Si). The Company is pleased to engage Ekopav as potential future purchaser of sub-metallurgical grade silica.
"QI Materials now has potential customers for both our metallurgical and sub-metallurgical grade silica products. This is exciting as both potential customers share similar green-economy values and are in line with our vision of establishing a local supply chain." stated Raymond Wladichuk, CEO of QI Materials.
About HPQ Silicon
HPQ Silicon Inc. (TSXV:HPQ) is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer.
HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. (TSX:PYR) (NASDAQ:PYR) and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions.
HPQ activities are centred around the following five (5) pillars:
- Becoming a green low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our proprietary PUREVAPTM "Quartz Reduction Reactors" (QRR) being developed by PyroGenesis.
- Becoming North America's first producer of micron size High Purity Silicon (3N & 4N) powders with the assistance of NOVACIUM SAS.
- Working to become the first producer of nano silicon materials from High Purity Silicon chunks using our proprietary PUREVAPTM Nano Silicon Reactor (NSiR) being developed by PyroGenesis.
- Becoming a green low-cost (Capex and Opex) producer of Fumed Silica using our proprietary FUMED SILICA REACTOR being developed by PyroGenesis.
- Developing a small and compact process for the on-demand production of hydrogen via hydrolysis of Silicon and other materials.
For more information, please visit HPQ Silicon web site.
About Québec Innovative Materials Corp.
Québec Innovative Materials Corp. (CSE:QIMC) (previously Québec Silica Resources Corp.) is a mineral exploration, and development company with a diversified portfolio of natural resource assets including high grade silica, hydrogen, and helium properties. QIMC is working toward becoming a sustainable supplier of resources which are essential in advanced batteries and the electrification of the new green economy. The Company has a 100% interest in the Charlevoix Silica Project, near Clermont, Québec, Canada as well as its various other silica properties in Québec.
Additional information on Québec Innovative Materials is available at www.qimaterials.com.
On Behalf of the Board of Directors,
QUÉBEC INNOVATIVE MATERIALS CORP.
"Raymond Wladichuk, P.Geo."
Chief Executive Officer
For further information, please contact:
Investor Relations
Tel: +1 (833) 474-5422
Email: [email protected]
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Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Québec Innovative Materials' actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although Québec Innovative Materials believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Québec Innovative Materials Corp. to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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