MONTREAL, Feb. 19, 2026 - PyroGenesis Inc. (TSX: PYR), a leader in ultra-high temperature processes and engineering innovation, has confirmed the successful results of testing conducted by an independent lab in the U.S. The lab verified that the fumed silica produced by the Company’s fumed silica reactor (FSR) meets critical requirements for advancement. This validation marks an important first step as part of a memorandum of understanding (MOU) disclosed on February 12, 2026.
The potential joint venture partner (JV Partner) has acquired 50 kg of fumed silica for additional testing, which is expected to confirm specific product behavior. Results from this testing are anticipated within six weeks, while ongoing technical due diligence will conclude in four weeks. However, both testing and due diligence may take longer depending on preliminary findings.
As previously reported, PyroGenesis’ client, HPQ Silicon Inc. (HPQ), along with its subsidiary HPQ Silica Polvere Inc. (HSPI) and an industrial JV Partner, has entered into a non-binding MOU to establish a joint venture company. PyroGenesis is in the final stages of securing a 50% interest in HSPI, as announced in May 2024. The joint venture aims to create a fumed silica production plant with a capacity of 1,000 tonnes per year (1,000 TPY). Under an exclusive manufacturing agreement, PyroGenesis is set to receive US$20 million (approximately CA$27.3 million) to construct the FSR.
Mr. P. Peter Pascali, President and CEO of PyroGenesis, expressed confidence in the transformative nature of their fumed silica production process. “Our fumed silica process fundamentally shifts how this material can be produced, significantly reducing CO₂ emissions and energy consumption, while allowing for profitable production at smaller scales,” he stated.
The upcoming fumed silica plant will be a commercial version of the current FSR pilot plant, designed to convert quartz into fumed silica in an eco-friendly manner without harmful chemicals. The expectation is that this plant will be operational within 12 months following the formation of the joint venture.
The MOU outlines that the JV’s formation will depend on successful negotiations and the execution of definitive agreements by all parties involved, expected to be completed by the end of Q2 2026. However, the formation of the JV is not guaranteed, nor is its commercial viability.
PyroGenesis stands as the exclusive supplier of HSPI’s plasma-based technology, producing commercial-grade fumed silica efficiently and safely. Compared to traditional methods that involve multiple steps and hazardous chemicals, the FSR simplifies the production process significantly.
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