PyroGenesis Announces $4.6 MM Increase in Funding to Transform Quartz into Fumed Silica; Signs $4MM Contract with HPQ Polvere
Retrieved on:
Tuesday, July 6, 2021
$4MM (the Contract) with HPQ Silica Polvere Inc. (HPQ Polvere or the Client), a wholly owned subsidiary of HPQ Silicon Resources Inc (HPQ).
Key Points:
- $4MM (the Contract) with HPQ Silica Polvere Inc. (HPQ Polvere or the Client), a wholly owned subsidiary of HPQ Silicon Resources Inc (HPQ).
- The difference is expected to be funded by an additional government agency for $630,000 as well as a contribution by PyroGenesis of $175,000.
- Fumed Silica is a thickening agent used in a wide range of applications, such as paints, cosmetics, coatings, inks and resins.
- This royalty stream can, at any time, be converted by PyroGenesis into a 50% ownership in HPQ Polvere.