Quebec Tech Company — HPQ Silicon Receives TSX Venture Approval to Move Forward with Revolutionary Green Hydrogen Project
Quebec – HPQ Silicon, an innovative silicon solutions and technology development company, is pleased to announce that the TSX Venture Exchange (“TSX-V”) has approved the HPQ transaction with EBH2 Systems SA, (“EBH2”) Announced on August 24, 2021 and following this approval, HPQ closed the memorandum of understanding concluded with EBH2 Systems SA on August 24, 2021.
HPQ and EBH2 can now focus on the next step, third party validation of EBH2 technology, which is expected to take place over the next 60 days. A first step has been taken with the signing of a perpetual global license granted by EBH2 to HPQ to sell products where EBH2 Green hydrogen reactors (EBH2 GHR) are incorporated into all HPQ technologies.
EBH2 SYSTEMS SA HAS DEVELOPED AN EXTREMELY EFFICIENT PROCESS FOR PRODUCING GREEN HYDROGEN
EBH2 is a Swiss company with proprietary low cost electrolysis technology that can extremely efficiently extract green hydrogen from virtually any water source, including salt water. EBH2 Green hydrogen reactors (“EBH2 GHR “) are scalable, adaptable and can produce, on demand, the quantities of green hydrogen fuel needed to power many applications ranging from various modes of land and sea transportation to single-family dwellings, to power generation to district scale and large scale industrial applications EBH2 has filed a provisional patent for this new on-demand process to make green hydrogen for US $ 1 per kilogram.
GREEN HYDROGEN A MARKET ADDRESSABLE TO A TILLION OF $ SEEKING A TECHNOLOGY LIKE EBH2 GHR
While the large-scale deployment of green hydrogen could supply up to 24% of global energy needs by 2050, reducing greenhouse gas (“GHG”) emissions by about a third and generating Direct annual revenue of $ 2.5 trillion, currently available processes of producing green hydrogen from renewable energy cost around US $ 5 per kilogram, giving green hydrogen a cost disadvantage compared to hydrogen produced from fossil fuels (gray and blue hydrogen) which cost US $ 1 per kilogram.
WORKING TOGETHER TO MARKET EBH2 GREEN HYDROGEN REACTOR TECHNOLOGIES
After many years of development, EBH2 now has an EBH2 GHR model ready for commercial deployment, a system that can continuously produce the green hydrogen fuel needed to power a 1 megawatt-per-week generator, enough power generation capacity to power a typical suburban home of three ( 3 rooms. The potential benefits of EBH cost and GHG reduction2 GHR systems are so massive that the units could easily replace solar panels or back-up generators for homeowners.
“HPQ has been at the forefront of developing Green Silicon innovation since 2015 and as we move closer to several operational pilot plants, finding a way to reduce our energy costs while improving our environmental footprint becomes critical. Paramount importance. EBH2 Systems SA, with its proprietary low-cost electrolysis technology that can extremely efficiently extract from virtually any water source, including salt water, Green Hydrogen presents HPQ with one of these games changing synergistic opportunities that we simply couldn’t ignore, ”said Bernard Tourillon, President and CEO of HPQ Silicon. “We are getting closer to the point where EBH2 the technology will be validated and HPQ will be incredibly well positioned to fabricate green silicon materials while opening up massive new addressable markets for a system capable of producing green hydrogen cheaply, on demand. “
Once the EBH has been validated by a third party2 the technology is complete, in accordance with the terms of the agreement found in HPQ on August 24, 2021, version:
- HPQ will complete the cash component of part of the transaction and begin delivering HPQ share units to EBH2 under the equity component of the transaction,
- HPQ and EBH2 will create a new joint venture (“NEWCO”) to market, sell and maintain EBH2 systems and products in North America, and
- EBH2 will start working on extending its EBH2 GHR technology to build systems capable of continuously producing the green hydrogen fuel needed to meet the energy needs of:
– HPQ PUREVAPTM QRR, a technology to produce high purity silicon,
– HPQ PUREVAPTM NSiR, a technology to produce nano silicon materials,
– HPQ Fumed Silica Reactor, a technology for producing fumed silica in a single step, and
– Other technologies that HPQ can develop over time.
HPQ WILL BEGIN THE PROCESS TO CHANGE THE COMPUTER CLASSIFICATION FROM MINING ISSUER TO TECHNOLOGICAL ISSUER
The TSX Venture Exchange approval included HPQ’s commitment to:
- Submit, no later than December 31, 2021, a request to the TSX Venture Exchange to change the HPQ classification from mining issuer to industrial and technological issuer.
- Obtain shareholder approval of the classification change request no later than 15 months from June 17, 2021.