MONTREAL, Quebec — February 19, 2026 — Leads & Copy —
PyroGenesis Inc. has received positive results from an independent U.S. testing lab, confirming its fumed silica meets the requirements to move forward. The company is a plasma-based technology provider to heavy industry and defense. The test was the initial validation step mandated by a memorandum of understanding (MOU) that was recently disclosed in a press release dated February 12, 2026.
Additional testing will be performed by the potential joint venture partner (JV Partner) to confirm expectations regarding specific product behavior. The JV Partner has purchased 50 kg of fumed silica for this purpose, with all testing expected to be completed within six weeks. Technical due diligence is ongoing and anticipated to be finalized within the next four weeks. Testing and due diligence timelines may be extended based on discovery results.
PyroGenesis has been actively involved in negotiations for the MOU between HPQ Silicon Inc. (HPQ), through its subsidiary HPQ Silica Polvere Inc. (HSPI), and an industrial JV Partner, to form a joint venture company. PyroGenesis is in the final stages of exercising its option to acquire a 50% interest in HSPI, as announced in a press release on May 30, 2024. The JV aims to operate a 1,000 tonne per year (1,000 TPY) fumed silica production plant.
Under an exclusive manufacturing agreement, PyroGenesis will receive US$20.0 million (approximately CA$27.3 million) to construct the FSR. The next steps depended on confirming certain chemical and compositional characteristics of the fumed silica powder produced by the existing FSR pilot plant. Fumed silica samples had already been produced and delivered to the client and a specialty testing laboratory in the U.S. The successful results confirm this initial suitability.
The tests conducted by the independent lab indicate that PyroGenesis’ fumed silica fulfills a critical requirement for the JV. Furthermore, the JV Partner has purchased 50 kg of fumed silica from PyroGenesis for further testing. The FSR has been running for longer durations, and the company is gathering data to prepare for the development of the 1,000 TPY system.
Mr. P. Peter Pascali, President and CEO of PyroGenesis, said the company’s fumed silica process represents a fundamental shift in how fumed silica can be produced. Pascali noted that PyroGenesis has demonstrated that fumed silica can be produced with a materially lower CO₂ footprint, reduced energy intensity, and at a scale that remains economically attractive without requiring massive CAPEX. He added that the fumed silica reactor allows for profitable production at smaller scale, changing the competitive landscape by opening the market to multiple local producers.
The proposed fumed silica plant would be a commercial scale version of the current FSR pilot plant, which PyroGenesis designed, engineered, and constructed to convert quartz into fumed silica. The plant is expected to be delivered within 12 months of the JV’s formation, and there would be a need for additional fumed silica plants of the same or larger size.
The MOU outlines that the FSR will have a capacity of 1,000 TPY, with PyroGenesis receiving US$20 million for its construction. The FSR will be bought and financed by the JV Partner, and the JV will own and operate the system to sell fumed silica at market prices. HSPI will charge a royalty for each kilogram of fumed silica sold, and profit-sharing distribution will be determined among the JV partners. An implied off-take agreement exists between the JV Partner and the JV.
The formation of the JV is contingent upon the successful negotiation and execution of definitive agreements. These documents are expected to be completed and signed no later than the end of Q2 2026. There is no certainty that a JV will ever be formed.
Fumed silica is used in thousands of consumer and industrial products, including cosmetics, toothpaste, and construction materials. It is often used as a thickening/anti-caking agent to improve texture and consistency.
PyroGenesis was originally engaged to develop and build the FSR pilot plant for HPQ Polvere Inc., a subsidiary of HPQ Silicon Inc.
PyroGenesis has the rights to convert its royalty rights into a 50% interest in HSPI, and an exclusive arrangement to be the sole supplier of equipment related to any commercialization of the FSR.
PyroGenesis is the exclusive supplier of HSPI plasma-based technology that uses quartz to produce commercial-grade fumed silica. The FSR requires no additional processes to prepare feedstock, and no intermediary toxic chemical-based processing. The FSR can produce fumed silica from quartz at one physical location. Benefits of the fumed silica reactor process include lower capital and operating costs, reduced CO2 emissions and energy footprint, elimination of hazardous chemicals, and a safer production environment.
PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions across heavy industry and defense. Its customers include global leaders in aluminum, aerospace, and steel. PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfurt (8PY1) stock exchanges.
HPQ Silicon Inc. is focused on innovation in advanced materials and critical process development.
For more information, please visit HPQ Silicon web site.
Source: PyroGenesis Inc.
