“This is another demonstration of our multi-prong approach to becoming a key silicon based material provider for the battery industry and beyond“
Bernard Tourillon, CEO, HPQ Silicon Resources
Watch yet another great interview with HPQ Silicon Resources on yet another major milestone
MONTREAL, April 04, 2019 — HPQ Silicon Resources Inc. (“HPQ”)Â (TSX VENTURE:HPQ) (FRANKFURT:UGE) (OTC PINK:URAGF)Â is pleased to announce that the anticipated results from the mid 2019 commissioning of the PUREVAP™ Quartz Reduction Reactor (“QRR”) pilot plant motivated the extension of the agreement with Apollon Solar SAS, (“Apollon”). Apollon Solar is a private French company that, over the past 20 years, has become one of the world leaders in the development of the metallurgical purification steps necessary for the transformation of 1 to 2 N silicon metal (“MG-Si”) into solar grade silicon metal (“SoG-Si”), the critical material needed for the photovoltaic conversion of the sun energy into electricity.
CONTINUING THE VALIDATION OF THE INNOVATIVE SOLAR POTENTIAL OF THE PUREVAPTM QRR
Bernard J. Tourillon President and CEO of HPQ Silicon Resources stated: “The December 2017 agreement with Apollon was the final piece of the puzzle in the creation of a world-class technical team. Joining PyroGenesis (PYR-TSXV) and HPQ, Apollon is dedicated to establishing a Low Cost and Green metallurgical approach for the production of solar grade silicon metal (SoG-Si). The extension of the agreement, as we get ready to produce our first 4N+ Purity (99.99+%) PUREVAP™ Silicon Metal (Si) (PVAP-Si) in 2019, could not be better timing, as the identification of the technological clusters needed for the transformation of PVAP-Si into SoG-Si has already startedâ€.
The following release will take the form of a question and answer discussion between Mr. Bernard J. Tourillon (MBA, President and CEO of HPQ Silicon) who will ask the questions, and Mr. Jed Kraiem Ph.D, (General Manager at Apollon Solar) who will answer them.
Q. Hi Jed, thank you for taking the time for the Q&A session. Can you describe Apollon Solar’s expertise in the metallurgical production of Solar Silicon (SoG-Si UMG)?
A. Certainly, for almost 20 years Apollon has invested time and money in research and development related to the development of metallurgical routes for the production of solar grade silicon metal (SoG-Si). Over time, Apollon emerged as a world leaders in the definition of impurity specifications for SoG-Si and the development of technological process required (Clusters) to produce solar cells with high photovoltaic conversion efficiency using silicon produced via metallurgical processes (“SoG Si UMG”). Some of our most significant achievements are:
Q. Can you please describe the differences between the chemical production of Polysilicon (Siemens process) and a metallurgical production of Solar grade Silicon (SoG-Si UMG)?
A. Polysilicon was originally designed to meet the demands of the electronic industry with purities between 9N to 11N depending on end usage. The Siemens process uses hydrochloric acid to dissolve MG-Si and produce a gas compound, trichlorosilane on a fluidized bed, then that gas compound is purified and finally reduced to solid silicon or Polysilicon. This process requires significant amounts of electrical energy (about 72 kWh per kg produced) and is potentially harmful to the environment because of the usage of chloride and silane in the process. Over the years, the Siemens process was optimized around producing 6N to 9N purity Si used in the solar industry and massive investments in commercial development lead to large plants being built. The main reason the chemical approach became the dominant process until now was the absence of alternatives to polysilicon in the early 2000s, when solar energy experienced it’s first boom. At that time, solar cells using metallurgically produce Solar Grade Silicon Metal were unable to reach the same levels of performance as those reached with polysilicon.
Metallurgically produced Solar Grade Silicon Metal (SoG-Si) has a purity of 5N+ with the main impurities being Boron, Phosphorus, Carbon and Oxygen. Contrary to chemical Solar Grade Si production (Siemens or FBR), the production of SoG-Si via metallurgical routes involves different liquid and solid phase processes, with at least 3 different purification steps (Cluster) needed to obtain solar requirements. Since the final purity of the product is adapted to solar application, CAPEX demands are reduced and after industrial scale optimization, operating costs (OPEX) will be significantly lower. Since 2007, many industrials have refined metallurgical Silicon into Solar Grade Silicon Metal (SoG –Si) via metallurgical processes and demonstrated that photovoltaic performances could be similar to performance attained using polysilicon.
On that point, Apollon Solar was one of the very first companies to demonstrate the possibility of obtaining very high photovoltaic conversion efficiency using 100% SoG Si UMG.
Q. Few industrial manufacturers have demonstrated an interest in metallurgical production of Solar Silicon (SoG-Si UMG), why is Apollon Solar still interested in its potential?
A. Developing a metallurgical pathway for the production of solar grade silicon metal requires time and significant investments. During the past 10 years, Apollon Solar has been involved in the development and optimization of the technologies needed to purify silicon metal (Mg-Si). Thanks to our global vision of the value chain and especially our photovoltaic expertise, Apollon Solar has identified the processes that need to be integrated in order to produce metallurgically low cost solar grade silicon metal (SoG-Si) that can reach high photovoltaic efficiency (Technological clusters).
Because of our unique expertise in both Silicon metallurgy and photovoltaic cells, Apollon Solar strongly believes in the future of the metallurgical pathway, but that is not the case for other manufacturers who generally only have one of these two core competences
Furthermore, three recent facts have reinforced our interest in the metallurgical production of SoG-Si:
Q. Can you explain why Apollon thinks that an innovation like PUREVAP™ RRQ will allow the metallurgical production of Solar Silicon (SoG-Si UMG) to compete with polysilicon production?
A. In 2017, Apollon Solar identified the PUREVAP™ QRR process as a unique metallurgical process, based on an innovative technological approach developed by PyroGenesis Canada Inc (“PCI”) for HPQ (patent pending, owned by HPQ).
Basically PUREVAP™ is a technology that is totally different from the traditional processes that transform Quartz into Metallurgical Silicon (“MG-Si”) and it is totally different from the well-known conventional physical and chemical processes of metallurgical purification of silicon (plasma, slags, acid leaching, alloys, and others).
The successful industrialization of such a simpler process, as well as the production of PUREVAP™ Silicon metal of 4N + purity (99.99 +% Si) with 1 ppmw of Boron (PVAP-Si) would result in a simplification of the refining steps and an improvement in material yield, resulting in significant cost savings (CAPEX and OPEX). Although still subject to validation, the addition of the technologies required for the transformation of PVAP-Si into Metallurgical Solar Silicon (“SoG-Si UMG”) would allow for a cost reduction that could equate to 60% for CAPEX and 30% for the “cash costs” (versus the most recent factories built in China).
While there is still some way to go toward industrial validation, this is a true innovation and its potential is there, so this is why we are excited to be continuing our involvement with HPQ!
Q. Which types of solar cells is the PUREVAP™ SoG-Si UMG meant for?
A. The first application for a PUREVAP™ SoG-Si UMG will be Multicrystalline solar cells (p-type Al-BSF and PERC) which will represent about 40% of the market in 2019 (that is about 50 GW or 175,000 MT/year of SoG Si). This is related to the fact that impurities specifications are less restrictive in multicrystalline than monocrystalline cells.
The new Mono PERC cell structures enabled higher solar cells efficiencies and lower SoG-Si consumption, monocrystalline (“mono-câ€) cells are presently gaining market shares compared to multicrystalline (multi-câ€), but this does not mean that the market for multicrystalline solar cells is not without a future.
The potential cell efficiency of a Multi PERC cell structure should be about 22.5%. Future multicrystalline market shares will depend on its costs and the speed at which cell performance will increase. Based on historical precedents, major technological advances in solar cells are always implemented first in the mono-c Si market before transferring to the multi-c Si market. When the significant cost reduction emanating from technological advances reaches the multi-c Si, it always gains back the market share lost to mono-Si.
Combining the innovations related to the increase conversion efficiency from Mono-c Si to Multi-c to the usage of a PUREVAP™ SoG-Si UMG will present a new pathway to significantly reducing the costs of the multi-c solar cells, as SoG-Si currently represents about 15% of the costs of a solar module.
Q. Can HPQ’s PUREVAP™ SoG-Si UMG be used to produce Si for industrial monocrystalline cells?
A. In the past, Apollon Solar and their partners have proven that high efficiency monocrystalline cells can be made from SoG Si 100% UMG (today’s world record at 21.1%). So this is an opportunity that will be studied as well. Indeed the difference in cell efficiency for solar cells made from SoG Si 100% UMG compared to solar cells made from polysilicon reference wafers could be less than 1.0% absolute.
Q. What is Apollon Solar’s position on perovskites solar cells?
A. Perovskites use in photovoltaic applications is a very recent innovation so this is a less mature technology compared to crystalline SoG-Si. While Perovskites base technology has made enormous progress in terms of photovoltaic efficiency in recent years and it cost and efficiency potential is very appealing, two major problems have emerged:
Many research efforts on that topic are currently underway and could eventually solve these main problems. However, perovskites are still far from industrialization and before they are able to compete with SoG-Si, a lot of convincing results will be required regarding both performance and reliability over time.
This having been said, another interesting point seems to be the potential to use SoG-Si in combination with Perovskites. In this case, the low cost solar Silicon (“SoG-Si UMG”) produced by HPQ could probably be adapted to the industrial realization of Silicon/Perovskites tandem cells. Indeed for that type of cells, an optimum between the purity and the cost of silicon presumably exists. This is where a PUREVAP™ SoG-Si UMG would be at an advantage versus polysilicon with it high fixed costs that do not depend on the purity of the product.
Q. Do you see other markets for the PUREVAP™ RRQ process?
A. Whatever process is used to produce Solar grade Silicon (“SoG Si”) (metallurgical or chemical), the main raw material needed will always be Metallurgical Grade Silicon Metal (“Si-MG”), a product that costs producers of SoG Si approximately US $ 2.5/kg for a 2 N purity raw material.
This reality has not changed even as production costs for industry leaders went from US $ 25 per kg fifteen years ago to less than US $ 9 per kg today, therefore making the relative importance of this raw material going from less than 10% of costs about fifteen years ago, when Polysilicon selling prices were high (> US $ 50 per kg) up to approximately 33% of today’s cost, just as Polysilicon spot prices have starting reaching a price range <US $ 10 per kg.
The PUREVAP™ process, being the only process that can provide the industry with access to a superior raw material, will have a significant competitive advantage versus traditional producers of Mg-Si.
Finally, by optimizing the PUREVAP™ Silicon structure, it could be made suitable for use in a very important potential market: anodes for Lithium-ion batteries.
Q. No industrial group involved in the production of Metallurgical Silicon (MG – Si) and Solar Silicon (SoG – Si) seems interested in developing an equivalent process, why?
A. Firstly, it is important to realize that there is a real cultural difference between upstream actors, (metallurgical grade Silicon metal and Solar Grade Silicon Metal producers) and downstream producers, (photovoltaic producers). Contrary to what one might believe, the border between these two groups is not very porous. Having experienced these difficulties first hand in our previous projects, this is an area where Apollon Solar can help HPQ and PyroGenesis benefit from the lessons learned and make these two worlds work together to our advantage.
Secondly, until recently there was no significant market for high purity metallurgical Silicon 3N + (99.9 +% Si) and this may explain some of this lack of interest.
Yet, for several decades now, researchers and industrials have developed Metallurgical purification processes that are now mature and can produce Solar Grade Silicon (“SoG-Si UMG”) from Metallurgical Silicon Metal (“MG- Si”).
The industrial scaling up development of these technologies was long and costly, but some industrials did succeed in producing a commercial SoG-Si UMG. While metallurgical production of SoG-Si consumes less energy than chemical production SoG-Si (35,000 KWh/t versus 72,000 KWh/t), operational savings until now have never been enough to pay back the CAPEX required for the production of SoG-Si UMG.
Presently only REC Solar Norway (Elkem Solar) still seemed to have an industrial production of SoG-Si UMG and it is small, 8,000 MT per year, or about 2% of the global solar Si market.
One of the main reasons why industrials have limited their investment in new metallurgical process to make SoG-Si is the massive margin destruction that has been happening over the last 25 years, and this even as demand for solar panels increased exponentially. This contradictory reality is a demonstration of the price elasticity of solar energy, whereby reduction in cost of making solar energy results in an increase in demand for solar energies.
Q. What is the future trend of the Solar Grade Silicon market?
A. Just during the last 6 years, the spot prices of polysilicon (“SoG-Si”) dropped from US $25 per kg to less than US $ 10 per kg. At these new prices not even the new high-performance plants built in China, with their cash cost below US$ 9 per Kg, and their all in cost around US$ 14 per kg can continue operating for a long period with spot prices staying below US$ 14 per kg.
So if there is a conclusion I would like readers to take away from this exchange is that demand for Solar Energy is not going away, therefore demand for SoG Si is not going away either. Furthermore, since chemical processes to make SoG-Si have been optimized to the max, it is evident that very soon a new Low Cost pathway to make a SoG-Si that can produce high efficiency solar cells will be needed to meet solar demand.
The PUREVAP™ RRQ process being develop by HPQ and PyroGenesis is coming to market at the most opportune time, and when you combine this new process with our solar technological knowhow it creates a solar team with the potential to become a significant agent of change for the industry.
This press release is available on the forum “CEO Verified Discussion Forum“, a moderated social media platform that allows civilized discussion and questions and answers between management and shareholders.
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed (Symbol HPQ) resource company focuses on becoming a vertically integrated producer of High Purity Silicon Metal (4N+) and a metallurgical producer of Solar Grade Silicon Metal (“SoG-Siâ€) used in the manufacturing of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic solar systems.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar, experts in their fields of interest, the innovative PUREVAPTM “Quartz Reduction Reactors (QRR)â€, a new Carbothermic process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (4N+ Si) in one step therefore reducing significantly the CAPEX and OPEX costs associated with a metallurgical transformation of quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule to start mid-2019
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact
Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011
Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239
www.HPQSilicon.com
Shares outstanding: 222,284,053
SPONSOR: Exclusive global partnership puts HPQ-Silicon Resources in a position to turn Quartz project into lowest cost supplier to solar industry. Click here to learn more
Institutional investors ranked uncertainty with energy prices as a top obstacle (Source: Karnakata Tata)
Institutional investors surveyed by the Octopus Group have ranked grid-scale solar power as their top deployment target, amid plans to inject US$210 billion in the broader renewable sector within five years.
A poll of 100 names published by the firm on Monday found 43% of those managing a portfolio of renewables were invested in solar, ahead of firms invested in onshore and offshore wind (28% each), hydropower (27%) and waste-to-energy and biomass (an aggregate 24%).
Of the respondents – a mix including pension funds, insurers and banks with US$6.8 trillion in combined assets under management – Australians (63%) were keenest on solar, followed by EMEA (58%), Asian (45%) and UK firms (29%).
The industry was the most sought-after also among firms currently not invested in renewables, although some appeared sceptical. Some 58% of those managing a renewables-free portfolio claimed to be considering solar plays, while 21% were not contemplating it and another 21% felt unsure.
Five years to unlock US$210 billion
Even as they singled out grid-scale solar as their top target, the
polled investors promised to scale up allocations to all forms of
renewables, with US$210 billion set to be deployed within five years.
Private banks appeared the most ambitious, sharing plans for renewables
to represent 9.7% of their portfolios over the period. They were
followed by strategic investors (8.9%) and pension funds (7.8%), while
high-net-worth individuals and family offices (5.5%) and insurers (4.7%)
were the most reluctant.
The Octopus survey evidenced the renewables momentum won’t be challenge-free, though. Energy price uncertainty, liquidity challenges and skills shortages ranked as the top concerns for the polled investors, although costs and regulatory barriers were also seen as obstacles.
Europe before its subsidy-free hour
The Solar Finance and Investment conference held in London in late January identified investors as the key enablers of subsidy-free solar in Europe. Corporate PPAs and other emerging arrangements are easing – although not fully dispelling – investors’ unease around merchant risks and potentially low returns, it was argued.
The Octopus poll placed the continent as the most in-demand destination for renewables investors. Of the top 10 countries and region, only Australia (seventh) and Japan (10th) were non-European.
The survey produced a finding likely to be welcomed by subsidy-free players. Almost one-in-two institutional investors piling into clean energy worldwide was driven by stable cash flows (a driver for 48%) and attractive risk-adjusted returns (40%); only diversification and ESG considerations placed higher.
Source: https://www.pv-tech.org/news/solar-shines-brightest-for-renewables-keen-investors
MONTREAL, Dec. 17, 2018 — HPQ Silicon Resources Inc (“HPQâ€) (TSX Venture: HPQ) is pleased to inform shareholders that, pursuant to the Plan of Arrangement and the Arrangement with Beauce Gold Fields Inc. (BGF), HPQ declares the special dividends stemming therefrom and that December 24, 2018 will be the Record Date for the distribution and the dividends consist of 10,680,000 Beauce Gold Fields common shares.
Only shareholders of record as at the share distribution record date will be entitled to receive the share dividends. Shareholders of record on that date will receive one share of BGF, for 0.0480466 shares they own of HPQ, the dividend per share ratio is subject to adjustment based on the number of shares of HPQ to be issued until the record date. December 31, 2018 would be the expected payment date. Fractional shares of BGF will be rounded down to the nearest whole number. Shareholders who sell their HPQ shares prior to the share distribution record date will not be entitled to receive shares of BGF. BGF confirms the definitive and unconditional closing of the plan of arrangement and BGF Private Placement of $550,000 announced on December 12, 2018.
Distribution Details:
Accordingly, HPQ will distribute 10,680,000 BGF shares to it’s shareholders on a pro rata basis of 0.0480466 shares for every HPQ shares they own hold as of close of business on the record date.
| Issuer Name: | HPQ-Silicon Resources Inc. |
| Declaration Date: | December 17, 2018 |
| Security Symbol | TSX-Venture Exchange: HPQ |
| Type of Security: | Common Shares |
| Type of Dividend: | Special Dividend distribution of BGF Shares |
| Record Date: | December 24, 2018 |
| Ex-Distribution Date: | December 21, 2018 |
| Payable Date: | December 31, 2018 |
The Company will announce the Listing Date of BGF shares on the Venture Exchange as soon as it receives confirmation form the Exchange.
About Beauce Gold Fields
BGF is a wholly owned subsidiary of HPQ Silicon into which HPQ gold assets were transferred. Subject to approval by TSX-V, HPQ is in the process of listing BGF as a new public junior gold company., following the approval by shareholders during HPQ AGM held on Aug. 10, 2018, of the proposed terms of the plan of arrangement.
The Beauce Gold Fields project is a unique, historically prolific gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of Southern Quebec. Comprising of a block of 152 claims 100% owned by HPQ, the project area hosts a six kilometre long unconsolidated gold-bearing sedimentary unit (a lower saprolite and an upper brown diamictite). Textural observations (angularity) of gold nuggets suggest a relatively proximal source and therefore a short transport distance. The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration discoveries. The property was also hosts numerous historical gold mines that were active from 1860s to the 1960s (see HPQ SEDAR-filed report).
Beauce Gold Fields website www.beaucegold.com
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar, that are experts in their fields of interest, the innovative PUREVAPTM “Quartz Reduction Reactors (QRR)â€, a truly 2.0 Carbothermic process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (Si) in one step and reduce by a factor of at least two-thirds (2/3) the costs associated with the transformation of quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule to start mid-2019.
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO HPQ Tel (514) 907-1011
Patrick Levasseur, COO HPQ, President and CEO BGF Tel: (514) 262-9239
www.HPQSilicon.com
MONTREAL, Dec. 12, 2018 — HPQ Silicon Resources Inc (“HPQâ€) (TSX VENTURE:HPQ)(FRANKFURT:UGE)(OTC PINK:URAGF) is pleased to inform shareholders that, for the purpose of the execution of the Plan of Arrangement, HPQ subsidiary, Beauce Gold Fields Inc (“BGFâ€) has closed the $550,000 private placement required for the listing on the TSX-Venture Exchange (“Exchangeâ€) and has submitted to the Exchange the Listing Application (Form 2B) under the reserved stock symbol BGF.
Once the Company receives satisfactory review of the Listing Application, it will set (in collaboration with the Exchange) the declaration date, record date, payment date of the distribution and finally, the listing date of BGF shares on the Venture Exchange.
Patrick Levasseur, President and CEO of HPQ Beauce Gold Fields subsidiary stated, “We are working closely with the Exchange to complete this listing process that will allow HPQ to unlock the full potential value of the Beauce Gold property through a fresh new entity starting with a tight capital structure.†Mr. Levasseur also stated “The Beauce is Canada’s last underexplored historical placer mining camp. It’s similar to the placer to hard rock exploration projects in the Yukon or the Cariboo district in BC, that were both placer gold mining camps as well, but recently had major gold discoveries. Combining our large claims holding in St-Simon-Les-Mines together with our increasing knowledge of the geology, we believe we have narrowed the search in exploring for a hard rock gold depositâ€.
The Private Placement is for:
Each HC Unit will be comprised of one common share and one common share purchase warrant of the Company to purchase one common share at the price of $0.15 per share. Each FT Unit will be comprised of one flow-through common share and one-half of one common share purchase warrant, with each full warrant allowing the holder to purchase one common share at the exercise price of $0.18 per share. The warrants are valid until December 15, 2020.
Patrick Levasseur, President and CEO of BGF, Lam Chan Tho, Director of BGF, through a wholly-owned company, 9228-6202 Québec Inc. and Ann Levasseur, Director of BGF have subscribed to 641,666 FT Units, 300,000 FT Units and 42,000 FT Units, respectively, representing an aggregate amount of $118,000
The participation of each of Patrick Levasseur, Lam Chan Tho (9228-6202 Québec Inc.) and Ann Levasseur in the Private Placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and Policy 5.9 -Protection of Minority Security Holders in Special Transactions of the Exchange. In connection with this related party transaction, the Company is relying on the formal valuation and minority approval exemptions of respectively subsection 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the portion of the Private Placement subscribed by Directors does not exceed 25% of the Company’s market capitalization. The Private Placement, including Director’s participation, has been approved by the Board of Directors of the Company, with each of participating Directors abstaining with respect to their participation.
In connection with the placement, the company paid Finders’ fees as follows:
1) $2,400 to Leede John Gable Inc., and the issuance of 24,000 warrants entitling the Agent to purchase 24,000 common shares at a price of $0.15 per share for a period of 24 months until December 15, 2020; 2) $6,560 to Stephen Avenue Securities Inc. and the issuance of 40,000 warrants entitling the Agent to purchase 40,000 common shares at a price of $0.15 per share and 4,800 warrants entitling the Agent to purchase 4,800 common shares at a price of $0.18, for a period of 24 months until December 15, 2020; 3) the issuance to Falkenberg Holding Ltd and to Gathering Waters Ltd 8,000 warrants entitling the Agents to purchase 8,000 common shares at the price of $0.15 as well as 1,600 warrants entitling the Agents to purchase 1,600 common shares at the price of $0.18 for a period of 24 months until December 15, 2020;
About Beauce Gold Fields
BGF is a wholly owned subsidiary of HPQ Silicon into which HPQ gold assets were transferred. Subject to approval by TSX-V, HPQ is in the process of listing BGF as a new public junior gold company, following the approval by shareholders during HPQ AGM held on Aug. 10, 2018, of the proposed terms of the plan of arrangement.
The Beauce Gold Fields project is a unique, historically prolific gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of Southern Quebec. Comprising of a block of 152 claims 100% owned by HPQ, the project area hosts a six kilometre long unconsolidated gold-bearing sedimentary unit (a lower saprolite and an upper brown diamictite). Textural observations (angularity) of gold nuggets suggest a relatively proximal source and therefore a short transport distance. The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration discoveries. The property was also hosts numerous historical gold mines that were active from 1860s to the 1960s (see HPQ SEDAR-filed report).
Beauce Gold Fields website www.beaucegold.com
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar, that are experts in their fields of interest, the innovative PUREVAPTM “Quartz Reduction Reactors (QRR)â€, a truly 2.0 Carbothermic process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (Si) in one step and reduce by a factor of at least two-thirds (2/3) the costs associated with the transformation of quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule to start mid-2019.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO HPQ Tel (514) 907-1011
Patrick Levasseur, COO HPQ, President and CEO BGF Tel: (514) 262-9239
www.HPQSilicon.com
Shares outstanding: 222,284,053
Disclaimers:
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S un der the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPONSOR: HPQ-Silicon Resources (HPQ:TSX-V) Exclusive global partnership puts HPQ-Silicon Resources in a position to turn Quartz project into lowest cost supplier to solar industry. Click Here For More Information
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Vattenfall has co-located solar and wind at the Parc Cynog site in Wales (pictured). Image: Vattenfall.
Solar stands to be a “new backbone†of the power sector as it cements its status as the world’s “dominant new build generation technologyâ€, Vattenfall’s head of solar and battery storage has said.
Earlier this year the Swedish state-owned utility announced that it was to invest €100 million in European solar deployment over the next two years. That investment is to be predominantly made into utility-scale solar farms co-located with wind and/or storage due to the complementary nature of the technologies.
Speaking to Current±, Claus Wattendrup, head of solar and battery storage at Vattenfall, said the company feels that the “time is right†for solar as the technology is edging closer to grid parity in numerous markets.
“I see solar as a new backbone of the energy industry,†Wattendrup said, adding that continued price reductions in both the technology and other costs associated with deployment had resulted in the solar sector becoming a “different ball game†to how it was before.
And this maturation has resulted in other large energy incumbents – not just Vattenfall, but the likes of Shell and BP – picking up the PV mantle.
“It’s the price level, [solar] has been quite expensive and it has been small – just a few megawatts – and in the past our companies have thought mainly in gigawatts of conventional capacity. This paradigm was based on a mix of all kinds of different reasons,†Wattendrup said.
As this paradigm has shifted and solar deployed in the hundreds of megawatts, if not gigawatts, big energy majors have become increasingly attracted. Both BP and Shell have acquired stakes in developers – Europe’s Lightsource and US-based Silicon Ranch respectively – in order to increase their standing in the technology and its application.
Vattenfall considers that its experience in wind development lends it the necessary skillset to adapt to solar, but Wattendrup reserves particular criticism for any power player that doesn’t pick up PV.
“If you don’t manage [solar] as a serious player, you’re doing something wrong. Therefore everyone’s moving into this in a serious manner. There’s no greenwashing, this is serious,†he said.
Claus Wattendrup was speaking to Current± for a feature-length article published in this month’s edition of sister publication PV Tech Power, which can be read in full here.
Source: https://www.current-news.co.uk/news/solar-a-new-backbone-of-global-power-vattenfall-says
By Liam Stoker
Solar PV, the IEA has said, is “charging ahead†of other renewables in numerous markets and, alongside gas, is “re-shaping†the power sector entirely. IEA forecasts that solar PV capacity will overtake wind by 2025 and coal in the mid-2030s to become the second largest generation technology, behind only gas.
Such a surge in installed capacity is likely to have significant impacts on global generation mixes and, in turn, the entire power sector, thrusting huge importance on flexibility which the IEA has labelled the “new cornerstone†of electricity security.
The IEA has gone so far as to state that changes to the power mix will need to be addressed with “growing urgency†across the global, which will, in turn, require market reforms, more significant investments in national grids and more prolific adoption of demand-side response, smart metering and energy storage technologies.
But of a far starker nature are the agency’s warnings surrounding the pace of clean energy adoption, specifically if the world remains committed to limiting global warming to within two degrees.
In charting projections for electricity generation capacities and demand, the IEA has suggested there remains a significant gap between its forecasts and staying within those climate targets, requiring what the IEA has termed as a “systematic preference†for investments in sustainable energy technologies.
In simple terms, both developing and advanced economies can no longer invest in carbon-emitting power stations if the effects of climate change are to be limited to limited within two degrees.
Fatih Birol, executive director at the IEA, noted that with more than 70% of global energy investments set to be government-driven, the “world’s energy destiny†is intertwined with global politics.
“Crafting the right policies and proper incentives will be critical to meeting our common goals of securing energy supplies, reducing carbon emissions, improving air quality in urban centres, and expanding basic access to energy in Africa and elsewhere,†he said.
While the IEA’s absolute figures for solar power deployment have proven far too conservative in the past, the body has the ear of OECD governments adding weight to its overall message..
Source: https://www.pv-tech.org/news/solar-charging-ahead-but-unprecedented-investment-action-required-iea-warns
MONTREAL, Sept. 13, 2018 – HPQ Silicon Resources Inc (“HPQâ€) (TSX VENTURE:HPQ) (FRANKFURT:UGE) (OTC PINK:URAGF) is pleased to inform shareholders that PyroGenesis Canada Inc (PyroGenesis) (TSX Venture: PYR) has taken delivery of the Gen3 PUREVAPTM “Quartz Reduction Reactor†(“QRRâ€) furnace, a key component of the pilot equipment. Furthermore, HPQ has made another milestone payment of $561,600 to PyroGenesis.  Since August 2016, HPQ has invested $3,988,400 for the pilot equipment, representing 90% of the $4,430,000 design, fabrication and assembly budget. Delivery of the furnace marks the start of the assembly phase of the Pilot Plant in an HPQ – dedicated area at the production facility of PyroGenesis in Montréal.  The Pilot Plant assembly will be completed during Q1 2019, commissioned during Q2 2019 and operational mid – 2019, only 3 years after the original concept was validated.
VALIDATING COMMERCIAL SCALABILITY OF INNOVATION REQUIRES FOCUS AND FLEXIBILITY
The Pilot Plant will have an output capacity of 50 tonnes per year, or ~ 1,000 kg of material per week. Â This step in the program is the single largest scaling up step and, once successful, will pave the way for the order of HPQ first commercial production unit, planned for 2020.
Using the data generated by the Gen2 PUREVAPTM tests and Apollon Solar technical knowhow, HPQ and PyroGenesis will continue to look for ways of optimizing our approach of validating the commercial scalability of the process while mitigating the technical and commercial risks associated with the project.
Bernard J. Tourillon, Chairman, President and CEO of HPQ Silicon stated, “We are very excited to move to this final stage of the PUREVAP™ QRR testing program.  Now that we have closed all necessary financings, we can focus efforts on the process improvements, scalability, seeking customers, and preparing for commercialization. With these financings closed, our objective going forward will be delivering on the Gen3 PUREVAP™ Pilot Plant phase with our “Solar Silicon Team†as well as building market awareness of our progress, plans and success.â€
This Press Release Is Available On The Company’s CEO Verified Discussion Forum, A Moderated Social Media Platform That Enables Civilized Discussion and Q&A’s Between Management and Shareholders.  https://agoracom.com/ir/HPQ-SiliconResources/forums/discussion
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.
HPQ’s goal is to develop, in collaboration with industry leaders, PyroGenesis (TSX-V: PYR) and Apollon Solar, that are experts in their fields of interest, the innovative metallurgical PUREVAPTM “Quartz Reduction Reactors (QRR)†process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (Si) in one step and reduce by a factor of at least two-thirds (2/3) the steps required to transform quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule to start mid-2019.
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011
Patrick Levasseur, COO Tel: (514) 262-9239
www.HPQSilicon.com
Shares outstanding: 222, 284,053Â
MONTREAL, Aug. 21, 2018 – HPQ Silicon Resources Inc (“HPQâ€) (TSX Venture: HPQ) is pleased to announce the closing of the previously announced financings totalling $ 5,250,000 with participation of the Quebec government, via its “Créativité Québec†program, and PyroGenesis Canada Inc. (“PyroGenesisâ€).
Bernard J. Tourillon, Chairman and CEO of HPQ Silicon stated, “Closing these financings, at more than a 40% premium to present market price, is a tangible validation that both the Quebec Government and PyroGenesis believe in the innovative potential of our PUREVAPtm QRR process. With these financings earmarked for the completion of our pilot equipment project closed, our objective going forward will be delivering on the Gen3 PUREVAP™ Pilot Plant phase with our “Solar Silicon Team†as well as building market awareness of our progress, plans and success.â€
$5,250,000 FINANCING SALIENT POINTS
The Quebec government, through its “Créativité Québec†program, via Investissement Québec (IQ), has subscribed to an unsecured Convertible Debenture for gross proceeds of $1,800,000. Net proceeds of  $1,713,622 was received by HPQ on August 20, 2018, after deductions of filing studies fees and legal fees emanating from IQ lawyers for the due diligence review.
The 5-year Convertible Debenture matures on August 20, 2023 and bears interest at a rate of 5% per annum. The interest payment can be accrued, at the Company’s option, up to the term of the Debenture. IQ will have the right, at anytime, to convert the Debenture into common shares of HPQ at a price of $0.12 per share. IQ may also, at the date of the conversion of the capital into shares, convert the accrued interest payable in shares of HPQ, subject to the approval of the TSX-Venture and the conversion price for the payment of the accrued interest will be established in accordance with the policies of the TSX-Venture.
HPQ will be allowed to proceed with an early repayment of the Debenture, capital and accrued interest, 36 months after the issuance of the debenture, subject to the payment to IQ by HPQ of a redemption premium equal to a compounded annual return of 20% on the capital of the Debenture.
Concurrent to the issuance of the Debenture, HPQ issued to IQ 15,000,000 Warrants, each Warrant entitling IQ to purchase one common share of the capital stock of HPQ at an exercise price of $ 0.17, for a period of 36 months from the close. The Debenture, the warrants and any stock issuance emanating from the Debenture and or warrant exercise will be subject to a holding period until December 20, 2018.
HPQ has closed the 16,250,000 units (“Unit”) at $0.12 per Unit private placement with PyroGenesis for a gross and net proceeds of $1,950,000. Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (“Warrant”) of the Company. Each Warrant will entitle Pyrogenesis to purchase one common share of the capital stock of the Company at an exercise price of $ 0.17 for a period of 36 months from the date of closing of the placement. Each share issued pursuant to the placement will be subject to a holding period until December 20, 2018.
The TSX venture exchange (TSX-V) has conditionally approved the $ 1,500,000 Equity Line of credit PyroGenesis has granted to HPQ. The equity line of credit can only be used to cover unexpected project cost overruns that could potentially occur after then end of planned test period in 2019 until December 31, 2020.
To be acceptable under the terms of the Equity Line of Credit, Cost Overruns shall be considered as such by both Parties and approved before they are incurred. Upon approval, HPQ must send a written thirty days (30) notice of it’s intent to drawdown the Equity Line of Credit to pay for the Cost Overruns. Once the approved work is completed, PyroGenesis shall remit to HPQ an invoice covering the completed work and HPQ will organize the payment of the invoice by means of issuance of common shares of its capital stock, as prescribed by TSX Venture Exchange policies, for a number of shares totalling the amount of the applicable invoice at an issuance price equal to the share quote on the invoice date, less a ten percent (10%) discount.
This Press Release Is Available On The Company’s CEO Verified Discussion Forum, A Moderated Social Media Platform That Enables Civilized Discussion and Q&A Between Management and Shareholders.   https://agoracom.com/ir/HPQ-SiliconResources/forums/discussion
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.
HPQ goal is to develop, in collaboration with industry leaders that are experts in their fields of interest, the innovative metallurgical PUREVAPTM “Quartz Reduction Reactors (QRR)†process (patent pending), which will permit the transformation and purification of quartz (SiO2) into high purity silicon metal (Si) in one step and reduce by a factor of at least two-third (2/3) the steps required to transform quartz (SiO2) into SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule for an end 2018 start.
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011
Patrick Levasseur, COO Tel: (514) 262-9239
www.HPQSilicon.com