08:20 AM EDT, 03/26/2024 (MT Newswires) -- PyroGenesis Canada Inc. ( PYRGF ) , announced Tuesday that, further to HPQ Silicon Inc.'s ( HPQFF ) November press release stating that it would not be pursuing commercial development of the PUREVAP Nano Silicon Reactor (NSiR), PyroGenesis has reacquired the intellectual property rights to the NSiR technology on a no-cost basis.

The PUREVAP NSiR is a proprietary process, originally designed and developed by PyroGenesis on behalf of HPQ Nano Silicon Powders Inc. (HPQ Nano), a subsidiary of HPQ Silicon ( HPQFF ), that can use different purities of silicon (Si) as feedstock to make a wide range of spherical silicon nano- and micro-powders and wires.

Under a 2020 Development and Purchase Agreement between PyroGenesis and HPQ Nano, all rights in the PUREVAP NSiR process (including any intellectual property rights) were assigned to HPQ Nano on condition that should HPQ Nano not commercialize the technology, PyroGenesis would have the option to have the ownership of this technology revert back to it at no additional cost.

"Nano silicon is still in its infancy, and so is the understanding of its usefulness. Reacquiring the intellectual property related to the PUREVAP NSiR allows us to continue to explore the full spectrum of possibilities for this metal," said Peter Pascali, President and CEO of PyroGenesis.