That’s the name for the reactor. Kelley chose HiPCO because the name sounded HiP and the new HiPCO had to sound a little more hippy. It’s been chirstened the HiPCO-3G to denote that it is pretty advanced.
We’re depending on publicly available data to arrive at generations for the HiPCO’s. The original HiPCO built under Smalley is given a Generation-1 followed by a Generation-2 for the HiPCO modified by Bronikowski with a graphite heater and a Ceramic based thought experiment from the same time. The 3rd generation simply blows away all competition.