Rechargeable batteries made with silicon-based anode materials developed by HPQ and its partner Novacium. (Courtesy HPQ Silicon Inc.)
HPQ Silicon Inc. (HPQ-X) is setting the groundwork to form a U.S. company where the Montreal-based sustainable materials firm can develop, finance and commercialize its North American battery activities.
For the proposed spinoff, named NewCo, HPQ has partnered with Dubai-based Open Markets L.L.C-FZ to aid with the formation. The collaboration is to establish the management, capital, customers, partnerships and operations of NewCo.
HPQ is targeting approximately $20 million (all figures US) in initial financing for NewCo.
Other than developing a plasma-based process of producing commercial-grade fumed silica from quartz, HPQ is behind silicon-based anode materials for use in lithium-ion cells and batteries. Compared to…
