Signing of a Multilateral Commitment to Explore the Possibility of Integrating Novacium's Hydrogen Manufacturing Technology in Vehicles Made by ARQUUS

MONTREAL, Jan. 24, 2024 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: O08), a technology company specializing in the green engineering of silica and silicon-based materials is pleased to announce to its shareholders that it has entered into a new multi-party commitment with ARQUUS, along with its French affiliate, NOVACIUM SAS ("Novacium"), and LN INNOV' SAS ("LN INNOV'") of Toulouse, France (refer to the press release of September 26, 2023).

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The aim of this multi-party commitment is to initiate discussions exploring the potential cooperation for integrating Novacium's new hydrogen production system (refer to the press release of September 7, 2023) into ARQUUS company vehicles.

Within the Volvo Group, ARQUUS is a company engaged in the design, development, manufacturing, marketing, and support of tactical and logistic vehicles, whether armored or not, along with their associated equipment. These products are tailored to meet the requirements of armed and security forces, both in France and internationally.

HARNESSING HYDROGEN POTENTIAL WHILE ELIMINATING LIMITING FACTORS

Unlike traditional electrolysis-based hydrogen production systems, Novacium's process operates without the need for electricity, extensive storage, and complex transportation infrastructure, offering a truly autonomous solution. Furthermore, the hydrogen produced by the chemical process directly reaches industry-standard pressure levels, typically ranging from 200 to 1,000 bars.

“This innovative approach aims to unlock the hydrogen stored in water using eco-friendly and low-cost alloys, providing an alternative, safe, and efficient means of hydrogen production,” said Mr. Jed KRAIEM PhD, COO of Novacium. “We are confident that our simple and secure method of hydrogen production will unlock the potential of hydrogen as a safe and clean on-site energy source for a variety of industrial and military applications.”

The dual-application process, designed for military and civilian uses, addresses potential clients, like ARQUUS, need for a low-carbon footprint, on-demand, high-pressure autonomous hydrogen production system deployable anywhere globally, even under off-grid conditions, with safety as a top priority.

“The signing of this multi-party commitment with the ARQUUS Company represents a first step in the commercialization of Novacium's hydrogen manufacturing process. We are excited about its potential to transform hydrogen's role, as safe and clean energy on-site source in various industrial applications,” said Mr. Bernard Tourillon, President and CEO of NOVACIUM SAS and HPQ Silicon Inc.

"Hydrogen: an opportunity for France and its armed forces. The energy transition to hydrogen is a real windfall for France. It offers major economic opportunities, strengthens the country's energy sovereignty and renews the techno-industrial training capacity of the Armed Forces,” said Mrs. Nathalie MAZEAU, LN INNOV' CEO. “With its experience in autonomous energy systems, LN INNOV' wishes to democratize this technology through its simplified use and logistics, essential markers for its success.”

About NOVACIUM SAS

Novacium is green technology startup based in Lyon, France started in Q3 2022. It is the result of a partnership between three of France’s leading research engineers, Mr. Jed KRAIEM PhD, Novacium's Chief Operating Officer (“COO”), Mr. Oleksiy NICHIPORUK PhD, Novacium's Chief Technical Officer (“CTO”), and Mr. Julien DEGOULANGE PhD, Novacium’s Chief Innovation Officer (“CIO”), who wanted to start a new Research and Development company to develop their own technology in high added value fields connected to renewable energy, and HPQ Silicon Inc, a Canadian company, looking to expand the depth and reach of technical team in order to develop its silicon and new renewable energy projects.

About LN INNOV' SAS

LN INNOV’ is a French networking company with a strong presence in various sectors, including Defense. As part of her consulting activities, LN INNOV' has developed an expertise in supporting companies and connecting them with defence manufacturers with regard to energy projects. LN INNOV' seeks to facilitate access to innovative energy projects, such as the one proposed by Novacium and HPQ, among key industry players in their network in order to accelerate the transition of innovative projects from the research and development phase to commercialization.

About HPQ Silicon

HPQ Silicon Inc. (TSX-V: 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. 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 four (4) pillars:

1)  Becoming a green low-cost (Capex and Opex) manufacturer of Fumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.

2)  Becoming a zero CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our PUREVAPTM “Quartz Reduction Reactors” (QRR), a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis.

3)  Becoming a producer of silicon-based anode materials for battery applications with the assistance of NOVACIUM SAS.

4)  HPQ SILICON affiliate NOVACIUM SAS is developing a low carbon, chemical base on demand and high-pressure autonomous hydrogen production system.

For more information, please visit HPQ Silicon web site.

Source: HPQ Silicon Inc.