PyroGenesis Canada Inc. (TSX:PYR, OTCQX:PYRGF) highlighted an agreement between HPQ Polvere with Evonik Corporation to form a collaboration to work on a new way to make fumed silica from quartz.
HPQ Polvere’s propriertary core Fumed Silica Reactor (FSR) project is designed to convert quartz into fumed silica in a single and eco-friendly step while eliminating the use of harmful chemicals generated by conventional methods.
PyroGenesis has designed and is constructing the FSR, which it says could provide a groundbreaking contribution to the repatriation of silica production to North America.
PyroGenesis has a right to convert its annual royalty rights into a 50% ownership stake of HPQ Polvere, which it stated in May that it intends to pursue.
HPQ Polvere’s parent company, HPQ Silicon Inc, announced that a letter of intent had been signed with Evonik with the objective of collaborating with Evonik during the pilot scale phase to validate the ability of the FSR to produce low-cost low carbon material acceptable to Evonik’s specifications.
This will be a scaling up of the process from HPQ Polvere’s first-generation samples, which Evonik has confirmed are acceptable.
PyroGenesis said the intent is to scale up the current process and confirm that the material produced continues to meet Evonik’s criteria.
Peter Pascali, president and CEO of PyroGenesis, said: “Today’s news announcing the signing of a letter of intent with Evonik is another step towards confirming the unique potential for the FSR, a ground-breaking technology and process that our engineers developed with both environmental and commercial considerations in mind.
“We look forward to engaging with Evonik and HPQ as the process moves forward.”
Fumed silica is a moisture-absorbing white microstructure powder with high surface area and low bulk density, used most often as a thickening agent, anti-caking agent, and stabilizer to improve the texture and consistency of products used in the personal care, powdered food, pharmaceuticals, agriculture, adhesives, paints, sealants, construction, batteries and automotive industries.
The fumed silica market, valued at US$1.3 billion in 2022, is expected to grow at a compound annual rate of 5% by 2032.