HPQ Silicium's Affiliate Novacium Receives €90,000 Grant for Battery Material Research

HPQ Silicium Inc. (HPQ) announced on Tuesday that its French affiliate, Novacium SAS, has received a French Tech Emergence Grant of €90,000 (approximately C$131,000). The grant, administered by the French Public Investment Bank (BPI), is part of the French government's initiative to support "deep tech" startups.

The funding will support Novacium's efforts to enhance the value chain of its engineered SiOx-based anode materials for batteries. The company is focused on developing an improved SiOx material intended for use in lithium-ion battery anodes, aiming to increase battery energy density.

"Novacium's recognition by BPI as an innovative project with significant industrial impact underscores the value of our work," stated Jed Kraiem, COO of Novacium. "With upcoming results from our ongoing engineered SiOx battery tests, we plan to seek more BPI deep tech financing, potentially up to €2 million, to advance our project to a pre-commercial stage."

Bernard Tourillon, President and CEO of HPQ Silicon and Novacium SAS, indicated that the grant validates the ongoing collaboration and the market need for advanced silicon-based battery materials. The market for SiOx-based anode materials is growing as the battery industry seeks alternatives to graphite to improve energy density.