SunHydrogen Provides End-of-Year Corporate Update
The Company overview details the status of the Gen 1 and Gen 2 programs, strategic partnerships, and other corporate milestones and goals
SANTA BARBARA, CA , Dec. 31, 2020 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTC:HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today shared an end of year business and technology development update.
The was designed to provide a clear proof of concept and demonstrate the potential for scalable growth, and ultimately commercial viability. Currently, SunHydrogen is completing the build-out of the 100 prototype solar hydrogen units that include solar cell assembly with applied coatings and catalysts, and the housing for safe hydrogen collection. For the manufacturing of the solar hydrogen panels for demonstration, the Company is working with Suzhou GH New Energy Tech Co., LTD and Suzhou Maimaosi Sensor Technology Co., LTD, both based in Suzhou, China. The Gen 1 technology uses multi-junction amorphous silicon solar cells.
In 2019, the company demonstrated 1000 hours of continuous hydrogen production utilizing Gen 1 cell technology. While the overall efficiency of the cells is low, SunHydrogen has gained significant and valuable insight during experimentation for the development of its Gen 2 nanoparticle technology. SunHydrogen anticipates completing the 100 demonstration units in the beginning of Q2 of 2021, enabling the Company to leverage them as further proof of concept as the Company looks to accelerate its nano-technology development. For a more efficient use of resources, these 100 demonstration units that were previously earmarked for one large demonstration pilot plant, will be put on display as smaller demonstration centers in global locations to demonstrate how sunlight and water can be used to produce hydrogen. The infrastructure required for a large plant is well documented, and demonstrating its function with the Gen 1 panels is not relevant to the Company’s overall goal of commercializing its Gen 2 nanoparticle technology.
SunHydrogen’s is one that the Company believes is most economical from a technology and commercial viability standpoint. By gaining and leveraging insights from the Gen 1 program, Gen 2 technology is well positioned to attain three times the solar-to-hydrogen efficiency and represents a potential tipping point for market-changing hydrogen production. The Company is now working with two different companies – one in Colorado and one in Germany - that are fabricating and testing the manufacturability of Gen 2 technology structure at sizes needed for commercial viability.
“SunHydrogen has achieved a number of milestones this year spanning technology development and our capital structure, positioning us well for growth within the hydrogen fuel sector,” said Tim Young, CEO of SunHydrogen, Inc. “Well-funded and with strategic partners in place, we are laser-focused on completing the Gen 1 program and continuing to leverage our technology as a proof of concept, while adding the necessary resources and partners to advance the Gen 2 program and establish a commercial partnership. As hydrogen fuel - and more specifically green hydrogen - continues to garner attention from customers and investors alike, we anticipate 2021 being an impactful year for SunHydrogen.”
About SunHydrogen, Inc.
SunHydrogen is developing a breakthrough, low-cost technology to make renewable hydrogen using sunlight and any source of water, including seawater and wastewater. Unlike hydrocarbon fuels, such as oil, coal and natural gas, where carbon dioxide and other contaminants are released into the atmosphere when used, hydrogen fuel usage produces pure water as the only byproduct. By optimizing the science of water electrolysis at the nano-level, our low-cost nanoparticles mimic photosynthesis to efficiently use sunlight to separate hydrogen from water, ultimately producing environmentally friendly renewable hydrogen. Using our low-cost method to produce renewable hydrogen, we intend to enable a world of distributed hydrogen production for renewable electricity and hydrogen fuel cell vehicles. To learn more about SunHydrogen, please visit our website at .
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.
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