NewHydrogen provides additional details on its research to lower the cost of green hydrogen

Rhea-AI Summary

NewHydrogen, Inc. (OTC:NEWH) has unveiled its research program at UCLA aimed at reducing costs in green hydrogen production. The initiative focuses on developing non-precious metal catalysts to replace expensive rare earth metals like iridium in electrolysis technology. With extreme weather emphasizing the urgency for clean energy, the company collaborates with the U.S. Department of Energy to achieve an 80% reduction in hydrogen production costs, targeting $1 per kilogram in the next decade. Hydrogen's clean energy potential is reinforced by its zero-emission profile when used as fuel.

Positive

• Partnership with UCLA to advance research in cost-effective green hydrogen production.
• Focus on developing non-precious catalysts, which could significantly reduce production costs.
• Alignment with U.S. Department of Energy's Hydrogen Shot initiative, aiming for an 80% cost reduction in hydrogen production.

Negative

• None.

Extreme weather crisis illustrates the need for accelerated clean energy adoption

SANTA CLARITA, Calif., Sept. 07, 2021 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTC:NEWH), a developer of clean energy technologies, today provided additional details of its previously announced sponsored research program at UCLA with a goal of lowering the cost of producing green hydrogen. Producing hydrogen economically and from renewable sources is a key component of a sustainable energy future.

Proton exchange membrane (PEM) electrolyzers are typically used when the available green electricity supply is intermittent in nature such as solar or wind. PEM electrolyzers, however, currently require high-cost catalysts that use rare earth metals such as iridium. These precious metal-based catalysts are not only expensive but also need to be replaced quite often. NewHydrogen’s focus, therefore, is to replace iridium with much more stable non-precious metal-based oxygen evolution reaction (OER) catalysts that not only cost less but also last much longer (and therefore do not need to be replaced as often).

The materials required for alkaline electrolyzers are relatively inexpensive compared to those for PEM electrolyzers. However, the alkaline electrolyzer technology is notably less efficient than that of PEM electrolyzers, thus requiring very large machinery to produce an equivalent amount of hydrogen. Anion exchange membrane (AEM) based electrolysis system attempts to combine alkaline electrolyzers’ cost savings with PEM’s performance. NewHydrogen is also developing hydrogen evolution reaction (HER) catalysts for use with AEM electrolyzers.

Extreme weather around the world is disrupting existing energy systems and reinforces the need to accelerate the timeline for a clean energy transition. CNBC’s recent report from the United Nations’ Intergovernmental Panel on Climate Change (IPCC) showed that the change in global surface temperature from 1850-2020 is greater than any period in more than 2000 years. The catastrophic weather patterns resulting from this change have created climate instability and severe damage around the world.

Along with industry leaders, NewHydrogen attended the recent U.S. Department of Energy (DOE) Hydrogen Shot Summit, DOE's first Energy Earthshots Initiative. Research sponsored by NewHydrogen aims to support the DOE goal to reduce the cost of clean hydrogen by 80% to $1 per kilogram in a decade.

“One kilogram of hydrogen has the same energy potential as a gallon of gasoline, but hydrogen has the advantage of simply turning into water vapor when used as fuel,” said Dr. David Lee, NewHydrogen’s CEO. “Research funded by NewHydrogen is focused on lowering the cost of producing hydrogen from renewable sources, creating a clean energy source that does not pollute.”

About NewHydrogen, Inc.

NewHydrogen, Inc. is focused on developing a breakthrough electrolyzer technology to lower the cost of green hydrogen production. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. However, hydrogen does not exist in its pure form on Earth so it must be extracted. For centuries, scientists have known how to use electricity to split water into hydrogen and oxygen using a device called an electrolyzer. Electrolyzers installed behind a solar farm or wind farm can use renewable electricity to split water, thereby producing green hydrogen. Unfortunately, electrolyzers are expensive and rely on rare earth materials such as platinum and iridium. These very expensive materials account for nearly 50% of the cost of electrolyzers. The company’s technology is aimed at significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth-abundant materials to help usher in a green hydrogen economy that Goldman Sachs estimates will be worth $12 trillion by 2050. 

To learn more about the company, please visit https://www.NewHydrogen.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, the impact on the national and local economies resulting from terrorist actions, the impact of public health epidemics on the global economy and other factors detailed in reports filed by the Company with the United States Securities and Exchange Commission.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

CONTACT INFORMATION

Investor Relations Contact:
Tom Becker
NewHydrogen, Inc.
ir@newhydrogen.com
(877) 904-3733

FAQ

What is NewHydrogen's research program at UCLA about?

NewHydrogen's research program at UCLA aims to lower the costs of producing green hydrogen by developing non-precious metal catalysts.

How does NewHydrogen plan to reduce the cost of green hydrogen?

The plan involves replacing expensive iridium catalysts with more stable and less costly non-precious metal-based catalysts.

What is the target cost for hydrogen production set by the U.S. Department of Energy?

The U.S. Department of Energy aims to reduce the cost of clean hydrogen to $1 per kilogram.

Why is clean hydrogen production important?

Clean hydrogen is crucial for a sustainable energy future, as it produces water vapor instead of emissions when used as a fuel.

What role does extreme weather play in NewHydrogen's initiatives?

Extreme weather highlights the urgent need for a rapid transition to clean energy systems, reinforcing NewHydrogen's mission.