Post on 04-Oct-2020
HPQ - SILICONR E S O U R C E S
TSX-V:HPQ
BecomingtheWorld’sLeaderinProducingLowCostGreenSolarGradeSiliconMetal
AGM-June21,2017
Thispresenta,onincludescertain“forward-lookingstatements”
Allstatements,otherthanstatementsofhistorical fact, includedherein, including,without limita5on,
statementsregardingfutureplansandobjec5vesofthecompany,areforward-lookingstatementsthat
involvevariousrisks,assump5ons,es5matesanduncertain5es,andanyorallofthesefutureplansand
objec5ves may not be achieved. The terms SGSI, Solar Grade Silicon and Polysilicon are used
interchangeablyandrefertohighpuritysiliconusedinthesolarpanelindustry,with99.999%purity,also
referredtoas“5N”.
These statements reflect the current expecta5ons or beliefs of HPQ-Silicon Resources Inc. (“the
Company”) and are based on informa5on currently available to the Company. There can be no
assurancethatsuchstatementswillprovetobeaccurate,andactualresultsandfutureeventscoulddiffer
materiallyfromthosean5cipatedinsuchstatements.Alloftheforwardlookingstatementscontainedin
thispresenta5onarequalifiedby thesecau5onary statementsand the risk factorsdescribedabove.
Furthermore,allsuchstatementsaremadeasofthedatethispresenta5onisgiven.
AninvestmentintheCompanyisspecula5veduetothenatureoftheitsbusiness. Theabilityofthe
Companytocarryoutitsplansasdescribedinthisconfiden5alpresenta5onisdependingonobtaining
therequiredcapital.ThereisnoassurancethattheCompanywillbeabletosuccessfullyraisethecapital
requiredortocompleteeachofthegrowthini5a5vesdescribed. Investorsmustrelyupontheability,
exper5se,judgment,discre5on,integrityandgoodfaithofthemanagementandBoardoftheCompany.
DISCLAIMERSHPQ - SILICONR E S O U R C E S
JUNE2017–Page2
HPQ - SILICONR E S O U R C E S
HPQISDEVELOPINGTHEDisrupOveTechnologyinGREENSolarGradeSiliconMetal(SoGSi)requiredtomeetthegrowingdemandforSolarEnergy
InvestmentEnvironment
JUNE2017–Page3
EachnewGWofCapacityrequires5,000tonnesofSoGSi
• Reaching10%goalrepresent540KTPAannualdemandforSoGSi
• Worldwideeconomicallyviablesupplycapacityisonly350KTPA
• BuildingnewsupplyCapacityissubjecttosignificantBarrierstoEntry
• DependingonprocessCAPEXcostfor10KTPAPlantRangefromUS$700MtoUS$1B
• Lowmargin,CashCostbetweenUS$10KtoUS$17K,salesfromUS$13KtoUS$16K• EnvironmentalpermiZngbarriersarehighbecauseofnastyby-products(Hydrochloricacid
(HCI)/H2/SiliconTetrachloride(SiCI4))produced
Source:CanadianSolar
HPQ - SILICONR E S O U R C E S InvestmentProposiOon
Theresultsareradicalbutthescienceissimple!JUNE2017–Page4
HPQisdevelopingthePUREVAPtmQuartzReducOonReactor(PatentPending)PresentDayProcessing-FollowedbyDownstreamManufacturing
Silica MetallurgicalGrade PolysiliconQuartz SiliconMetal Brick/Ingots Solar Solar SolarSiO2 MGSi Wafer Cell Module System
99.5%SiO2 98.5to99.5%Si 99.999%SiandHigher
Silica PolysiliconQuartz Brick/Ingots Solar Solar SolarSiO2 Wafer Cell Module System
99.5%SiO2 99.999%SiandHigher
HPQPUREVAP™QRRAimstoCombineTwoProcessandTransformQuartzDirectlytoSolarGradeSilicon
SolarGradeSiliconMetal
SGSi99.999%SiandHigher
SolarGradeSiliconMetal
SGSi99.999%SiandHigher
PROCESS#1Smelter
PROCESS#2Refining
PROCESS#3CrystallisaRon Step1 Step2 Step3
PROCESS#1&2PUREVAPQRR
PROCESS#3CrystallisaRon Step1 Step2 Step3
PUREVAPTMQRRisaonestepCarbothermicProcessexpectedto:• ReduceOpexofmakingSoGSibyasmuchas80%• ReduceCapexCostofmakingSoGSibyasmuchas95%• ReduceCarbonFootprintrelatedtoproducingSoGSibyaminimumof75%• Eliminate the producOon of nasty by-products (Hydrochloric acid (HCI) / H2 /Silicon
Tetrachloride(SiCI4))
ThecostcurveforSGSI(polysilicon)suggestthatlong-termsolar-gradepolysiliconpricebelow
USD15/Kgisnotfeasible.HPQandthePUREVAPTMwillchallengethat.
PolycrystallineSiliconMarket2016–2025|©AMMS|Updated:2November2016
DAQO
Elkem
OCI
HankookSilicon
GCLSiemensWackerNünchritz
WackerBurghausen
TBEA
ChinaSilicon
OthersurvivingChinesecompanies
HanwhaChemical
RECSiliconFBR
Renesola
Hemlock
TokuyamaMalaysiaPhaseII
GCLFBR
SMP
WackerTennessee
RECSilicon
Siemens
SunEdisonFBR
TokuyamaShunan,Mitsubishi,
OsakaTitanium
Est.Demand
-
5.00
10.00
15.00
20.00
25.00
- 450,000
Es,matedvariablecostincl.SG&A($/kg)
50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000
Source:PVMarketOutlook,Q12016,BloombergNewEnergyFinance,18February2016('BNEF')
Supplycurveforpolysilicon,2016
HPQ - SILICONR E S O U R C E S
PUREVAP™QRRPotenOalOpexRange
(CashCost)*
2016 Average Spot Price $16.92
PUREVAP™DISRUPTIVEPOTENTIALCashCostAnalysis
.
JUNE2017–Page5*PUREVAPtmcashcostses,matesweberevisedamerPilotPlantisopera,onal
PUREVAP™DISRUPTIVEPOTENTIALCapexAnalysis
HPQ - SILICONR E S O U R C E S
FollowingPilotScaleValida,onofthePUREVAP™QRRprocess;• Thegoalwillbetomovetoacommercialphase,withanobjec5veofbuildingcapacity
capableofproducing20,000TPYofSGSiwithin5-7years
PUREVAPTMQRRUS$18.5CapExperkgofannualcapacitymatrixatPilotPlant
phasedemonstratethedisrupOvepotenOalofthetechnology
Technologies FeedMaterial
CapableofTransforming Si02to
CapableofUpgrading MGSito
KeyCapexmatrixMinimumCapacityRequirement(MT)
CapExperKgofannualinstalledcapacity(US$/kg)
CapitalCostrequirements(US$million)
Numberofeffectivecompetitors
NEWTECHNOLOGY
SiemensHC SiemensHyperPure
FBRReactorwithSilane
SilicorAluminumSolventRefining
PUREVAPQRRR&DPilotPlant
PUREVAPQRRCommercialplant
SolarGradeSi SolarGradeSiSolarGradeSi
(4N-6N)ElectronicGradeSi
(8N-9N)SolarGradeSi
(5N-6N)SolarGradeSi
(6N-7N)1
19,000 200 10,00070(U.S.) 100(U.S.) 100(U.S.)45(China) 75(China) 75(China)455(U.S.) 650(U.S.) 650(U.S.)292(China) 488(China) 488(China)
(all$valuesinUSD)
7
6,500
35
665
EXISTINGTECHNOLOGY
18 4
4 38
HPQTECHNOLOGY
1
CapitalCostPerTechnologiesAvailableToProduceSGSiMaterial
SOURCES: SilicorMaterials PyroGenesisCanadaInc(PRAugust2,2016)
RoughOrderofMagnitudeStudybyPyroGenesis
IEEEJOURNALOFPHOTOVOLTAICS,VOL.5,NO.2,MARCH2015
JUNE2017–Page6
PUREVAP™TheOnlyEnvironmentallyFriendlyOpOon
HPQ - SILICONR E S O U R C E S
JUNE2017–Page7
Debt free after gold spinout
CorporateandCapitalSummaryHPQ - SILICONR E S O U R C E S
*Independentdirectorsmayreceiveaddi,onalcompensa,onforprojectwork.
Management IndependentDirector(*)
BernardJTourillon,BAA,MBA RichardMimeau,B.Sc.Chairman,CEOandDirector Director
PatrickLevasseur PeterSmith,PhD,P.Eng.President,COOandDirector Director
NoelleDrapeau,LLL,MBA,PMP RobertRobitaille,B.A.,L.Ph.,MBACorporateSecretaryandDirector Director
FrancoisRivard DarylHodgesH.BSc,M.Sc..CFO Director
Auditors
RaymondChabotGrantThornton
TransferAgent
Computershares
Consultants
MarcelDrapeau,BA,B.Sc.Comm,LLLCompanyLawyer
MarcRicher-Laflèche,P.Geo,PhDTechnicalAdvisor(INRS-ETE)
JUNE2017–Page8
Management&Board ≈15% ≈22%(FD)KeyInvestorGroup ≈14% ≈15%(FD)Fancamp ≈3% ≈5%(FD)Institutions ≈4% ≈5%(FD)TaiwaneseGroup ≈2% ≈3%(FD)PyroGenesis ≈2% ≈2%(FD)
TOTAL ≈39% ≈51%(FD)
MajorInvestors
SharePrice(June19,2017) $0.125 Cashandequivalentinhand
52WeekLow $0.105 Cashvalueofwarrantsinthemoney
52WeekHigh $0.305 BreakdownofwarrantsOutstanding # $
$0.07StrikePriceWarrants-Dec.17 6,325,000 $442,750$0.07StrikePriceWarrants-Feb.18 1,800,000 $126,000$0.07StrikePriceWarrants-Jun.18 3,915,750 $274,103$0.07StrikePriceWarrants-Aug.18 5,959,000 $417,130$0.07StrikePriceWarrants-Dec.18 7,006,000 $490,420$0.10StrikePriceWarrants-Jul17 232,769 $23,277$0.12StrikePriceWarrants-Feb.19 4,375,000 $525,000$0.25StrikePriceWarrants-Jul.18 6,200,000 -$0.25StrikePriceWarrants-Dec.18 6,448,211 -$0.25StrikePriceWarrants-Feb.19 9,411,766 -
$0.25StrikePriceWarrants-March.19 2,488,234 -$0.30StrikePriceWarrants-Jan.20 8,000,000 -$0.30StrikePriceWarrants-Oct.18 2,840,909 -
$0.35StrikePriceWarrants-March18 1,462,500 -
$900,000
$2,298,679
SharesOutstanding: 169,469,434
Warrants: 66,465,139
MarketCapitalization(FD): $30,948,072
Options: 11,650,000
FullyDiluted: 247,584,573
MarketCapitalization: $21,183,679
HPQSiliconplanstobecomeaver,callyintegratedSiliconMetalCompany
CorporateStructureandBusinessesHPQ - SILICONR E S O U R C E S
SubsidiariesBEAUCEGOLD
FIELDSINC
QUARTZ
PROPERTIESPUREVAPQRR HPQSOLAR
BTGoldOption
andJVWith
GNH
BEAUCE
GOLD
PROJECT
RONCEVAUX
GOLD
OPTION
Quartz
Quarries
Products
HighPurity
Quartz
by-products
Metallurgical
Grade
SiliconMetal
HighPurityand
SpecialtyGrade
SiliconMetal
Solar
Grade
SiliconMetal
Polysilicon
Wafersfor
SolarCells
Purity 99.99+%SIO2
98.5%to
99.5%SI
99.6+to
99.99+%SI99.999+%SI
MarketSize≤100KMT
perYear
≥2.2Million
MTperYear
≥220KMT
perYear
≥350KMT
perYear
Average
sellingprice
inKg(USD)
>$5.00
$2.20
to
$2.60
$2.80
to
$3.75
$13.00
to
$16.00
2017,2018
development
stepsforHPQ
Exploration
worktostart,
goal
delineating
resourceson
Properties
R&Dongoing,
goalremains
validating
PurevapQRR
capacityto
produce5N+
purity
Studying
business
opportunities
ofexpanding
vertical
integration
furtherdown
thePV
manufacturing
cycle
Followinglegal
settlement,
workonthis
significanthard
rockgoldproject
re-starting.Goal
istransferring
lateratcosts+
theprojectto
BGF
Divisions
Goldassetsareintheprocesstobespun
outduring2017tounlockvalue
Ownership:100%now,20%afterspinout
Followinglabscalevalidation
confirmingcapacityoftaking98.1
SiO2feedstockandproduceHigh
PuritySi,theplansaretobuilda
pilotsystemtoconfirm
commercialscalabilityandstudy
commercialopportunitiesforthis
significantmarketsegment
HPQSiliconResourcesInc.
JUNE2017–Page9
STRATEGICDEVELOPMENTAGREEMENTWITHPYROGENESIS• PyroGenesisisdevelopingforHPQ-Silicon’sexclusiveusethePUREVAP™QRR(PatentPending)a1Step,Clean
TechprocessformakingSGSidirectlyfromQuartz,usingaplasmasubmergedarc
• HPQ has acquired the intellectual property rights to the PUREVAP™ QRR process and will finance thedevelopmentasitrelatesexclusivelytotheproduc5onofsiliconmetalfromquartz(*)
• PyroGenesisisbuildingandwilloverseeproduc5onfroma200TPYSGSiR&Dpilotplant
(PressreleasesAugust2,2016,September30,2015)
*PyroGenesisretainsaroyalty-free,exclusive,irrevocableworldwidelicensetousetheprocessforpurposesotherthantheproduc5onofsiliconmetalfromquartz
HPQ - SILICONR E S O U R C E S OutsourcingR&DAndPartneringWith
TheIndustryLeader
JUNE2017–Page10
HPQ - SILICONR E S O U R C E S HPQPUREVAPTMSCALINGUP:
MakingRapidProgressProofofConceptMetallurgicalTestsProgram,Scalingupresults
Thinlayerof
materialproduced
duringfirsttests
FirstnuggetofSi(99.97%SI)
producedduringfinalproofof
concepttest(About0.1g)
ProcessCharacteriza,onTes,ngPhase,Scalingupresults
15testslater
Smallbeadproduced
duringtest#24
Seriesofchunksof99.93%Si
producedduringtest#32(8.8g)
Seriesofchunksof99.97%Si
producedduringtest#51(8.67g)
Modifica,ondonetothePUREVAPTMQRRhavemadeitpossiblefortest51toproducethesame
quan,tyofSiasintest#32,whileusingsmallerbatchsizes(55wt%less)
Thisrepresenta531%increaseinYield!
JUNE2017–Page11
MGSiliconMetal
98.0%to99.5%Si
ElectricArc
Furnace
MGSiliconMetalIsDissolvedIn
HydrochloricAcidToForm
Trichlorosilane(HSiCl3)
SolarGradeSiliconMetal
99.999+%Si
SIEMENSType
Reactorhave90%
MarketShare
Trichlorosilane
(HSiCl3)is
FurtherRefined
SolarGradeSiliconMetal
“Polysilicon”
99.999+%Si
PUREVAP™QuartzReducOonReactor
MarketSize(Ton) ≈350KTonsMarketSize(US$) ≈5BillionDemandGrowth ≈15%CAGRPrice(US$/kg) 12.80to15.67CashCost(US$/kg) 12.0to17.0CapexCost(US$/kg) 75to100
SolarGradeSIKeyMatrix(5NandHigher)
2015Data(SourcesCRU,GTW,IEEEJOURNALOFPHOTOVOLTAICS,VOL.5,NO.2,MARCH2015,Bloomberg)
MarketSize(Ton) ≈2.2MillionTonsMarketSize(US$) ≈6BillionDemandGrowth ≈6%CAGRPrice(US$/kg) 2.4to2.8CashCost(US$/kg) 1.75to2.25CapexCost(US$/kg) 7to14
MGSIKeyMatrix(98%to99.5%Si)
2015Data(SourcesCRU,Ferroglobe,Bloomberg,Viridis.oq,Roskill)
AProprietary(PatentPending)One-stepProcessToMakeSolarGradeSiliconMetal
“ELEGANTINITSSIMPLICITY”
PUREVAPProcessKeyWorkingMatrix
CombineMarketSize(Ton) >2.7MillionTonsCombineMarketSize(US$) >11BillionDemandGrowth >10%CAGRCashCost(US$/kg) 1.75to2.25CapexCost(US$/kg) 7(2KTPYReactor)CapexCost(US$/kg) 4(10KTPYReactor)CapexCostSourcesfromPyroGenesisCanadaRoughOrder
ofMagnitudeStudy,(CapexandOpexnumberstoberefineafterPilotPlantstartoperation)
SiO299.5%
Carbon
SiO299.5%
Coal-WoodChips
COMPARISONofTODAY’SPROCESSVs.PUREVAP™HPQ - SILICONR E S O U R C E S
JUNE2017–Page12
Phase 1: Detailed Engineering
Process Engineering
Mechanical Engineering
Electrical Engineering
Automation Engineering
Phase 2: Pilot Plant Fabrication
Equipment Sourcing
Equipment Delivery & Inspection
Fabrication, Assembly & Installation
Sep-17 Oct-17 Nov-17Task Name
Sep-16
ScheduleOct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17
HPQ - SILICONR E S O U R C E S
DesignandPilotPlantFabricaOonSchedule
Phase3:HotcommissioningofPilotPlantschedulefromNov2017
Phase4:Tes,ngandOpera,ngPilotPlantschedulefromMarch2018
JUNE2017–Page13
PUREVAP™PILOTPLANT:CAPITALNEEDS,TIMING
Thetotalcost topurchaseandcommissionthePUREVAPTMQRRPilotPlantandrelatedIntellectualPropertyisCDN$8,260,000tobeinvestedbetween08/2016en12/2018:
• $1,000,000forpurchaseoftherelatedIntellectualProperty(Completed)
• $4,430,000fordesign,fabrica5on,assembly,andtes5ng($3,190,200Completed,$1,239,800byNov-2017)
• $520,000forhotcommissioningofthepilotsystem(TobepaidFromDec-2017toFeb-2018)
• $2,310,000fortes5ngandopera5ngthepilotsystemduring10months(TobepaidFromMarchtoDec-2018)
TheProjectedCashcalloverthenext24monthsare:
• $1,499,800for2017,(TobepaidFromOctober2017toDecember2017)
• $2,570,000for2018
HPQSiliconfundingadvantages:
• Theprojectiseligibleforgovernmentfunding(ProvincialandFederal)for55%to80%ofthecost
§ DiscussionwithbothlevelsofGovernmentareongoing,approvalsareexpectedduringQ32017
• OverCDN$2,250,000worthofwarrantsareinthemoney,majorityinfriendlyhands
• Theacquisi5onofPUREVAPTMIntellectualpropertyopensupaddi5onalop5onsforfinancing
becauseinvestorswanttoseedirectcontroloverthekeyintellectualproperty
• Managementisexploringseveralless–dilu5vepathsforfinancingthePilotPlant
§ Ifthesharespricesexceed$C0.40,thenoverCDN$11,2Millioncouldberaisedviawarrantexercises
• HPQwillbeen5tledtoR&DresearchcreditsontheCDN$7,260,000investment
HPQ - SILICONR E S O U R C E S
JUNE2017–Page14
HPQ–PUREVAP™RAWMATERIALHPQ - SILICONR E S O U R C E S
• HPQ-SiliconisthelargestholderofHighPurityQuartzproper,esinQuebec,withover3,500Haunderclaims
• TheRoncevauxHighPurityQuartz,withitupto3Npurity(99.9%SiO2)samplesisinhigh
demand,andhassuccessfullypassedrigoroustes5ngprotocolsofamajorsiliconmetal
producer
• The Mar5nville High Purity Quartz is unique and rare with samples up to 4N purity
(99.99%SiO2)
INRSTest2016ResultsJUNE2017–Page15
HPQVERTICALINTEGRATIONSTRATEGY
PlansAreToEstablishHPQQuarryOpera,onsinordertomeetour
RawMaterialRequirementForFuturePUREVAP™QRRPlants.
HPQ - SILICONR E S O U R C E S
• For 2017, HPQ plans on developing the
RoncevauxQuartzPoten5al:
• Keygoal,delinea,ngasignificantresource
• A Preliminary Economic Assessment (PEA),
based on the fact that the PUREVAPTM QRR
process is the only process in theworld that
can transform 98.1% SiO2 into 99.9+% Si will
beundertakenin2018
• Un5l its comple5on, all our financial models
will be based on purchasing the raw High
Purity Quartz required for the plants, in the
openmarketatmarketprices
• Uponsuccessfulstartofquarryopera5onson
Roncevaux, HPQ Silicon will be a fully
integratedSiliconMetalProducer
JUNE2017–Page16
HPQ - SILICONR E S O U R C E S WhyInvestinHPQNow?
HPQIsCanada’sOnlyPublicPurePlayInvestmentIntheGrowingSolarGradeSiliconMarket
• HPQBenchTestSuccessHaveValidatedThatWeHaveTheOnlyProcessInTheWorldThatPurifiesWhileTransformingQuartzIntoSiliconMetal
• ProjectGraduaOngToPilotPlantPhase
HPQPUREVAP™ProprietaryDisrupOveTechnology:• LowOpex,LowCapex,MinimalCarbonFootprintandEnvironmentallyfriendly
• Lessthan20%oftheIndustry’scashcost,
• 5%ofIndustryCapex,and
• Es,mated75%reduc,onincarbonfootprint
• Nonastyby-products(Hydrochloricacid(HCI)/H2/SiliconTetrachloride(SiCI4))
• 200TPYPilotPlantalmostcompletedandtalkingtopoten,alindustrypartners
• Theonlyonestepprocessintheworldthatcantakelowqualityfeedstock
(98.1%SiO2)andproduceHighPuritySiliconMetal(99.97%Si)
JUNE2017–Page17
HPQ - SILICONR E S O U R C E S
PUREVAPTM“FeedstockFlexibility:AVisibleAdvantage”
LowPurityFeedstock98.14%SiO2
HighPurityFeedstock99.9+%SiO2
Appendix:SupporOngSlides(slides18-32)
HPQ - SILICONR E S O U R C E S
LeadingResearchPaperSoGSiMarketprojecOons
JUNE2017–Page19
LowSGSi(Polysilicon)Produc,onLimi,ngPVGrowth
Source: Demand Data Installations: GTM Research, PV Pulse, January 2016 Supply Data: Competitor releases, industry analysts, REC Market Intelligence
Semi Semi Semi Semi Semi
ROW ROW ROW
China Top 3
China Top 3 China Top 3
China Top 3
China Top 3
Other China Other China Other China
Other China
Other China
41GW
59GW 64GW
78GW
0
100
200
300
400
500
2014 2015 2017 2018
Poly
silic
on (k
MT)
SG Si (Polysilicon) Supply/Demand Forecast
2016
Total SG Si Demand
(70)
(60)
(50)
(40) ROW
ROW
(30)
(20)
(10)
0
10
20 95GW
2014 2016 2017 2018
Poly
silic
on (k
MT)
SG Si (Polysilicon) Market Balance Forecast
2015
Supply Excess Supply Deficit
HPQ - SILICONR E S O U R C E S
JUNE2017–Page20
CompeOtorsSoGSiMarketprojecOons
HPQ - SILICONR E S O U R C E S
JUNE2017–Page21
4 © REC Silicon ASA. All rights reserved. Confidential
Very Strong Growth in PV Demand
March 16, 2017
20.0
27.331.6
38.743.7
57.7
77.3 79.382.1
90.5
97.3
0
10
20
30
40
50
60
70
80
90
100
2010 2011 2012 2013 2014 2015 2016 2017E 2018E 2019E 2020E
GW
PV Installations by Region
Europe Africa and Middle East Americas China India Japan ROW› China still most important market, but reduced installations in coming years
› India and other emerging markets continue to grow
› Long term market outlook is increasingly geographically diversified
Results based on IHS Markit, Technology Group, PV Demand Market Tracker, Q4 2016. This data is not an endorsement of REC Silicon. Any reliance on the results are at the third party’s own risk. Visit www.technology.ihs.com for more details.
CompeOtorsSoGSiMarketprojecOons
HPQ - SILICONR E S O U R C E S
JUNE2017–Page22
CompeOtorsSoGSiMarketprojecOons
PUREVAP™TheOnlyEnvironmentallyFriendlyOpOon
CarbonFootprint75%LowerThanConven,onalProcess.
ThePUREVAP™QRRprocessises5matedtogenerate14.1kgCO2eq/KgSGSi;
TheSiemensprocess(theindustrystandard)normallygenerates54.0kgCO2eq/
KgSGSiofemissions.*
• Thisrepresents75%fewergreenhousegasemissions,whichisjus5fiedbyelimina5on
oftheemissionsemana5ngfromtheuseofchemicals,aswellas,energyconsump5on
fromtheaddi5onalpurifica5onstep.
HPQ - SILICONR E S O U R C E S
*Source:R.Glöckner.M.deWild-Scholten.Energypayback4meandcarbonfootprintofElkemSolarsilicon.27thEuropeanPhotovoltaicSolarEnergyConferenceandExhibi5onJUNE2017–Page23
PUREVAP™EnvironmentallyCompeOOveAdvantage
HPQ - SILICONR E S O U R C E S
China’scoalintensiveelectricitygridmeansthat
makingsiliconsolarpanelsthere‒althoughCheaper‒leavesacarbonfootprintalmosttwice
aslargeasthatmakingitinEurope.Source:StudyledbyFengqiYouatNorthwesternUniversity(NatureV510,19June2014)
Tradi5onalprocessoftransformingquartzin
solargradesiliconmetalrepresentthebiggest
contribu5ngsourcetothelifecycleofCO2
emissionsforsolarenergy
ADVANTAGEPUREVAP™GOINGFORWARD,ASMOREANDMORESOLARPRODUCERWILLBEASKTOCONSIDERTHELIFECYCLECO2FOOTPRINTOFTHEIRPROJECTS
JUNE2017–Page24
GrowthinMGSiConsump,onExpectedto
AcceleratefromHistoricalLevels
KMT
$/t
3,500
3,000
2,500
2,000
1,500
1,000
500
0
20072008200920102011201220132014201520162017201820192020
WesternWorld China
RisingMGSiDemandExpectedtoDrivePrice
Recoveryin2017-2020
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
20072008200920102011201220132014201520162017201820192020
USA Europe Source:CRU2015,Ferroglobe
Note:Siliconconsump4on,pricing,andcapacitydataarefromCRU.
Japan
HPQ - SILICONR E S O U R C E S GROWINGMETALLURGICALGRADESILICONMETALMARKET
n MGSi2015consump5onwas2.2MillionTons;
• >$US6billioninworldwidesales
n Demandisexpectedtogrowat6.0%CAGRfrom2016–2020
n CRU forecasts a 2017-2020 price recovery for MG SidrivenbyrisingMGSidemand
n In 2015, 15%ofGlobalMGSi (98.5% Si) produc,on
was further refined to Solar Grade Si (SG Si, or
“Polysilicon”)at99.999%(5N)purity
• 350KTonsofSGSiwassoldin2015(≈$US5Billion)
n Growthwill be largely driven by the growing demandforSolarGrade(SG)Si(Polysilicon)materialtobeusedinPhotovoltaic(PV)solarpanels
n EachWaw(W)ofenergyproducedbyaPVsolarsystemdemands≈5grofSGSi
n GTMResearch es5mates that Installed PV demand togrowth 15 % - 23 % annually, represen5ng about 10Gigawaw(GW)peryear
n Significant SG Si Deficit are forecast from 2017 on asGigawaw(GW)producewithSolarpanelsincreases
JUNE2017–Page25
HPQ - SILICONR E S O U R C E S HPQPUREVAPTMQRRProcessIsDisrupOveInThe
TradiOonalSiliconMetalSpaceWithItsCapacityToTransformLowPuritySio2Into3N+Si
JUNE2017–Page26
HPQ - SILICONR E S O U R C E S
JUNE2017–Page27
HighPuritySiCompeOtors(2017)
DATA SHEET SILICON POWDERS 2016 SILICIO FERROSOLAR
SilicioFerroSolar, S.L.
Polígono Sabón, s/n 15142 Arteixo (A Coruña) Spain Tel.:+34 981 647010 Fax: +34 981 602354
Product Data Sheet
High Purity Silicon
Silicio FerroSolar offers High Purity Silicon for different applications fields such as the ceramic industry (for example ceramic bearings or cutting tools), pyrotechnical mixes, filler for epoxy in microelectronics, sputtering targets and aesthetical applications. Our production technology allow us to offer tailored solutions for each application.
Chemical composition
2N 3N 4N Spec. Spec. Spec.
Si Content (%) >99 >99.9 >99.99
IMPURITIES (%):
Fe <0.50 <0.05 <0.005
Al <0.20 <0.01 <0.001
Ca <0.05 <0.01 <0.001
Ti <0.02 <0.005 <1ppmw
P* 5-20 ppmw 5-20 ppmw 5-20 ppmw
B* 25-35 ppmw 25-35 ppmw 25-35 ppmw
*These are the typical range values for B and P. Any target value could be produced.
**Other trace elements on request
Particle size
Sizes could be adapted to the different needs.
sfs@ferroatlantica.es
HPQ - SILICONR E S O U R C E S
JUNE2017–Page28
SoGSiPuritybyProcess
HPQ - SILICONR E S O U R C E S
JUNE2017–Page29
UMGSoGSiCompeOtorsProcess(Elkem-2013)
HPQ - SILICONR E S O U R C E S
JUNE2017–Page30
UMGSoGSiCompeOtorsProcess(Elkem-2013)
SIMPLEPUREVAPTM1-STEPPROCESS“ELEGANTINITSSIMPLICITY”
+PlasmaArc
Silicon
Vacuum
Impuri,es
ONESTEP
QuartzReduc,onReactor
• Quartzreduc5onwithcarbonusingplasmasubmergedarc
• Siliconrefiningundervacuumtoremoveimpuri5es
VacuumArcFurnace
• Reachingverylowairpressurelevel
ü (mbar)• Veryhightemperatureplasmaarc
ü +3500degC• Resul,nginvaporizedimpuri,esbefore
Sicanvaporize
ü P,K,Mg,Zn,Ca,Mn,Pb,Al,Fe,etc
HPQ - SILICONR E S O U R C E S
SolarGradeSiliconMetal“Polysilicon”JUNE2017–Page31
3000 Omer-Lavallée St, Suite 306 Montreal, Quebec, CANADA, H1Y 3R8 Tel: +1 514 846 3271 Fax: +1 514 372 0066
www.hpqsilicon.com
CONTACT
Bernard J. Tourillon, B.A.A, MBA Chairman and CEO bernard.tourillon@hpqsilicon.com +1 514 476-2133
Patrick Levasseur President, COO and Director patrick.levasseur@hpqsilicon.com +1 514 262-9289
HPQ - SILICONR E S O U R C E S