Business
PyroGenesis Announces MOU Toward Joint Venture for Commercial Scale Fumed Silica Plant
MONTREAL, Feb. 12, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis” or ...
About this update from Hpq Silicon Inc
[{"type":"text","content":"PyroGenesis Announces MOU Toward Joint Venture for Commercial Scale Fumed Silica PlantPyroGenesis would build commercial fumed silica reactor for USD$20 million\nMONTREAL, Feb. 12, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis” or “the Company”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), the leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that its client HPQ Silicon Inc. (“HPQ”), through its wholly owned subsidiary, HPQ Silica Polvere Inc. (“HSPI”), and an industrial Joint Venture partner (the “JV Partner”), have signed a non-binding memorandum of understanding (the “MOU”) to form a joint venture company (the “JV”). The purpose of the JV is to operate a 1,000 tonne per year (“1000 TPY”) fumed silica production plant. PyroGenesis, under an exclusive manufacturing arrangement, would build the fumed silica reactor (FSR) for US$20.0 million (approximately CA$27.3 million). The JV Partner’s name is being withheld for competitive and confidentiality reasons at the request of the client. The financing of the system has already been secured and is to be provided by the JV Partner. PyroGenesis, who has been actively involved in all aspects of the negotiations of this MOU, is in the final stages of exercising its option to acquire a 50% interest in HSPI, as previously announced (press release dated May 30, 2024). The MOU announced today, describes, amongst other elements, that: 1) The FSR will have a capacity of 1,000 tonnes per year (1000 TPY) and will cost USD $20MM. 2) The FSR will be bought by the JV and financed by the JV Partner (terms and conditions yet to be agreed upon). 3) The JV will own and operate the system with the goal of selling fumed silica at market prices. 4) A royalty will be charged by HSPI, for each kilogram of fumed silica sold by the JV (price/kg not yet agreed upon). 5) Profit-sharing distribution to the JV partners (terms and conditions to be agreed upon). 6) An implied off-take agreement between the JV Partner and the JV to justify the creation of the JV. Next steps are dependent on the confirmation of certain chemical and compositional characteristics of the fumed silica powder ...