Quebec technology company—HPQ Silicon received TSX-V approval to move forward with its revolutionary Green Hydrogen venture

Quebec — HPQ Silicon, an innovative silicon solutions and technology development company, is pleased to announce that the TSX Venture Exchange (“TSX-V”) has given its approval to HPQ transaction with EBH₂ Systems SA, (“EBH₂”) announced on August 24, 2021 and following that approval, HPQ has closed the MOU entered into with EBH₂ Systems SA on August 24, 2021.

HPQ and EBH₂ can now focus on the next milestone, third-party validation of the EBH₂ technology, expected to take place during the next 60 days. A first step was done by the signing of a perpetual world-wide license granted by EBH₂ to HPQ to sell products where EBH₂ Green Hydrogen Reactors (EBH₂ GHR) are incorporated into any HPQ Technologies.

EBH₂ SYSTEMS SA HAS DEVELOP AN EXTREMELY EFFICIENT PROCESS TO PRODUCE GREEN HYDROGEN
EBH₂ is a Swiss company that possesses a proprietary low-cost electrolysis technology that can, extremely efficiently, extract from virtually any water source including saltwater, Green Hydrogen. EBH₂ Green Hydrogen Reactors (“EBH₂ GHR”) are scalable, adaptable and can produce, on-demand, the quantities of Green Hydrogen fuel necessary to power numerous applications from various modes of land and sea transport to single home dwellings, district-wide power generation and large-scale industrial applications. EBH₂ has filed a provisional patent for this new and novel on-demand process to make Green Hydrogen for US$1 per Kilogram.

GREEN HYDROGEN A TRILLION $ ADDRESSABLE MARKET IN SEARCH OF A TECHNOLOGY LIKE EBH₂ GHR
While deploying at scale Green Hydrogen could provide up to 24% of the world energy needs by 2050, cutting Greenhouse Gas (“GHG”) emissions by around a third and generating direct annual revenues of US$ 2,5 trillion, currently available processes of producing Green Hydrogen from renewable energies cost about US$5 per kilogram, giving Green Hydrogen a cost disadvantage compared to hydrogen produced using fossil fuels (Grey and Blue Hydrogen) which have a US$1 per kilogram cost.

WORKING TOGETHER TO COMMERCIALISE EBH₂ GREEN HYDROGEN REACTORS TECHNOLOGIES
After many years of development, EBH₂ now has a EBH₂ GHR model ready for commercial deployment, a system that can produce continually the Green Hydrogen fuel necessary to power a 1 Megawatt per week generator, an electricity production capacity sufficient to power a typical three (3) bedroom suburban house. The potential cost and GHG reduction benefits of the EBH₂ GHR systems are so massive that the units could readily replace solar panels or standby generators for homeowners.

“HPQ has been at the forefront of Green Silicon innovation development since 2015 and as we get closer to having multiple pilot plants operational, looking for a way to reduce our energy costs all the while improving our environmental footprint becomes of paramount importance. EBH₂ Systems SA, with their proprietary low-cost electrolysis technology that can, extremely efficiently, extract from virtually any water source including saltwater, Green Hydrogen present HPQ with one of these games changing synergetic opportunities that we simply could not overlook,” said Bernard Tourillon, President and CEO of HPQ Silicon. “We are getting closer to the point where EBH₂ technology will be validated and HPQ will be incredibly well-positioned to make green silicon materials all the while opening up new, and massive addressable markets for a system that can produce cheaply green hydrogen, on-demand.”

Once third-party validation of the EBH₂ technology is completed, as per the terms of the agreement found in HPQ August 24, 2021, release:

• HPQ will complete the cash component of part of the transaction and start delivering HPQ share units to EBH₂ under the terms of equity component of the transaction,
• HPQ and EBH₂ will create a new joint venture company (“NEWCO”) to market, sell and service EBH₂ systems and products in North America, and
• EBH₂ will start working on scaling up its EBH₂ GHR technology to build systems that can produce continually the Green Hydrogen fuel necessary to meet the energy requirements 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 to produce fumed silica in one step, and
  – Other technologies that HPQ may develop over time.

HPQ TO START PROCESS TO CHANGE IT CLASSIFICATION FROM MINING ISSUER TO TECHNOLOGY ISSUER
Included in the TSX-V approval was HPQ commitment to:

• Submit, by the latest December 31, 2021, an application to the TSX-V to change HPQ classification from being a mining issuer to an Industrial and Technology Issuer.
• Seek shareholder approval of the change of classification request by the latest 15 months from June 17, 2021.