HPQ Silicon Inc. provided shareholders with an update on the latest developments for the ongoing PUREVAP(TM) Gen3 Quartz Reduction Reactor pilot plan project ("Gen3 QRR") since August 9(th), 2023 release. The work completed so far has successfully validated approximately 80% of the project's key milestones, which include: Production of silicon using 25% less feedstock than conventional carbothermic processes that use a ratio of 6 tonnes (t) of raw materials to produce 1 ton of metallurgical grade silicon (MG Si -- 98.5% to 99.5%). Cou successfully achieve the Silicon pour, PyroGenesis Canada Inc. - the projeject's technology provider -- completed essential upgrades to enhance the Gen3 QRR design in September 2023.

These modifications were implemented to improve the fluidity of liquid silicon at the reactor's base. This was an issue that has prevented successful silicon pour during previous tests. Also, PyroGenesis made some additional upgrades to the system, like improving the QRR crucible design to minimize silicon contamination during the pouring process.

Furthermore, PyroGenesis informed HPQ that the modified crucible will be delivered to the testing facility this week and that, if all goes according to plan, the silicon pour should be completed the following week. Data was compiled from information found in the presentations made by CRU International Limited ("CRU"), during their Silicon Market Outlook conferences of November 2018, November 2020, and October 2022. Information further validated by Straits Research Silicon Metal Market: Information by Product Type (Metallurgical and Chemical), Application (Aluminium Alloys, Silicone, and Semiconductors), and Region -- Forecast till 2030, report that indicated that the global silicon metal market size was valued at USD 12.4 billion in 2021, and is expected to reach USD 20.60 billion by 2030, growing at a CAGR of 5.8% during the forecast period (2022--2030).

HPQ is developing, with the support of world-class technology providers PyroGenesis Canada Inc. and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions. HPQ activities are centred around the following five (5) pillars: Becoming a green low-cost (Capex and Opex) manufacturer oFumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis. Becoming a zero CO(2) low-cost (Cape x and Opex) producer of High Purity Silicon (2N+ to 4N) using PUREVAP(TM).

Quartz Reduction Reactors" (QRR), a proprietary technology owned by HP QRR), a proprietary technology owned By HPQ being developed for HP QQ by PyroGenesis.