08:35 AM EST, 12/10/2024 (MT Newswires) -- HPQ Silicon Inc. ( HPQFF ) , a technology company specializing in the green engineering of silica and silicon-based materials, on Tuesday said it had signed a Memorandum of Understanding with a company, based in Northern Germany, that operates an industrial site and has over 50 years of extensive experience in chemical/industrial manufacturing.

According to a statement, the "overall goal" of the MOU is to combine HPQ's silicon-based anode material technology with the German company's industrial capabilities. It said the MOU "provides the basic framework, required to design, build, and operate a manufacturing facility for advanced silicon-based anode materials for batteries".

It added the MOU also involves exploring the "potential of deploying the PUREVAP QRR technology on-site to manufacture high-purity silicon required as feedstock for advanced silicon-based anode materials, plus leverage the QRR's unique carbon off-gas capture capability to produce green synthetic fuel".

HPQ rose $0.02 or 8.3% yesterday.