DiagnaMed and EIREX Collaborate to Develop and Commercialize Novel Modular Technology Producing Hydrogen from Water
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) has partnered with EIREX to develop and commercialize a novel hydrogen extraction technology from water. The EIREX technology aims to produce hydrogen at $0.25 per kilogram for pilot prototypes and $0.10 per kilogram for commercial units, significantly lower than the industry's 2030 target of $2 per kilogram. The global hydrogen market, valued at $170.14 billion in 2023, is expected to grow at a 9.3% CAGR through 2030. The collaboration focuses on developing commercial pilot prototypes and establishing partnerships with healthcare facilities for operational and medical treatment purposes.
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) ha stretto una partnership con EIREX per sviluppare e commercializzare una nuova tecnologia per l'estrazione dell'idrogeno dall'acqua. La tecnologia EIREX punta a produrre idrogeno a 0,25 $ al chilogrammo per prototipi pilota e 0,10 $ al chilogrammo per unità commerciali, ben al di sotto dell'obiettivo dell'industria di 2 $ al chilogrammo entro il 2030. Il mercato globale dell'idrogeno, valutato 170,14 miliardi di dollari nel 2023, è previsto crescere con un CAGR del 9,3% fino al 2030. La collaborazione si concentra sullo sviluppo di prototipi pilota commerciali e sulla creazione di partnership con strutture sanitarie per scopi operativi e di trattamento medico.
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) se ha asociado con EIREX para desarrollar y comercializar una nueva tecnología de extracción de hidrógeno del agua. La tecnología de EIREX tiene como objetivo producir hidrógeno a 0,25 $ por kilogramo para prototipos piloto y 0,10 $ por kilogramo para unidades comerciales, significativamente inferior al objetivo de la industria de 2 $ por kilogramo para 2030. El mercado global de hidrógeno, valorado en 170,14 mil millones de dólares en 2023, se espera que crezca a un CAGR del 9,3% hasta 2030. La colaboración se centra en desarrollar prototipos piloto comerciales y establecer asociaciones con instalaciones de salud para propósitos operativos y de tratamiento médico.
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF)는 EIREX와 협력하여 물에서 수소를 추출하는 새로운 기술을 개발하고 상용화하고 있습니다. EIREX 기술은 파일럿 프로토타입의 경우 킬로그램당 0.25 달러, 상업 단위의 경우 킬로그램당 0.10 달러로 수소를 생산하는 것을 목표로 하며, 이는 2030년까지 산업 목표인 킬로그램당 2달러보다 현저히 낮습니다. 2023년 1701억 4천만 달러로 평가된 글로벌 수소 시장은 2030년까지 연평균 9.3% 성장할 것으로 예상됩니다. 이 협력은 상업 파일럿 프로토타입 개발과 운영 및 의료 치료 목적으로 의료 시설과의 파트너십 구축에 중점을 두고 있습니다.
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) a établi un partenariat avec EIREX pour développer et commercialiser une nouvelle technologie d'extraction d'hydrogène à partir de l'eau. La technologie EIREX vise à produire de l'hydrogène à 0,25 $ par kilogramme pour des prototypes pilotes et à 0,10 $ par kilogramme pour des unités commerciales, ce qui est nettement inférieur à l'objectif de l'industrie de 2 $ par kilogramme d'ici 2030. Le marché mondial de l'hydrogène, évalué à 170,14 milliards de dollars en 2023, devrait croître avec un TCAC de 9,3% jusqu'en 2030. La collaboration se concentre sur le développement de prototypes pilotes commerciaux et l'établissement de partenariats avec des établissements de santé à des fins opérationnelles et de traitement médical.
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) hat sich mit EIREX zusammengetan, um eine neuartige Wasserstoff-Extraktionstechnologie aus Wasser zu entwickeln und zu kommerzialisieren. Die EIREX-Technologie zielt darauf ab, Wasserstoff für Pilotprototypen zu einem Preis von 0,25 $ pro Kilogramm und für kommerzielle Einheiten zu 0,10 $ pro Kilogramm zu produzieren, was deutlich unter dem Branchenziel von 2 $ pro Kilogramm bis 2030 liegt. Der globale Wasserstoffmarkt, der im Jahr 2023 auf 170,14 Milliarden $ geschätzt wird, wird voraussichtlich bis 2030 mit einer CAGR von 9,3% wachsen. Die Zusammenarbeit konzentriert sich auf die Entwicklung kommerzieller Pilotprototypen und die Schaffung von Partnerschaften mit Gesundheitseinrichtungen für operative und medizinische Zwecke.
- Technology aims to produce hydrogen at $0.10/kg, significantly below current $4/kg cost
- Targeting large market opportunity valued at $170.14B with 9.3% CAGR
- Novel technology could overcome current electrolysis production limitations
- Technology still in prototype phase, not yet commercially proven
- Production cost targets are projections, not achieved results
Advancing hydrogen for medical and industrial uses
TORONTO, Nov. 14, 2024 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a life sciences company focused on molecular hydrogen and AI diagnostics, is pleased to announce it has entered into a collaboration agreement with EIREX, a hydrogen technology company, for the development and commercialization of EIREX’s novel modular carbon-free technology that extracts hydrogen from water and overcomes the challenges currently faced by producing hydrogen via electrolysis.
Hydrogen produced by electrolysis has an industry target to reach a cost of
Table #1: EIREX technology vs Electrolysis in generating hydrogen
Hydrogen is well-known for its industrial use as a pollution-free fuel. The global hydrogen generation market size was estimated at USD 170.14 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of
Although hydrogen use is growing, the current production method and cost limits its full potential for broader adoption of on-site-on-demand hydrogen in industrial plants, hospitals and medical centers, and for treating various unmet medical needs. Worldwide hydrogen production is almost exclusively (
The collaboration between DiagnaMed and EIREX will focus on advancing the development of the commercial pilot prototype. DiagnaMed will also seek to establish partnerships with life sciences companies, hospitals and medical centers that would benefit from having its own source of hydrogen for not only operational purposes and energy backup, but also for medical treatments. Molecular hydrogen has been clinically demonstrated to provide antioxidant, anti-inflammatory and neuroprotective effects. It can potentially aid in managing chronic diseases by diminishing oxidative stress and the associated inflammatory pathways. The cellular bioavailability of molecular hydrogen is high4 and has the potential for antiaging, neurodegenerative disorders (i.e. Parkinson’s and Alzheimer’s disease), mental health conditions (i.e. Depression)4, diabetes, cancer, rheumatoid arthritis, inflammatory muscular disorders, transplantation, and diseases of the eye, pancreas, liver, lung, kidney, intestinal and skin5.
Fabio Chianelli, CEO of DiagnaMed, commented: “We are excited to evolve our business in developing novel methods of producing hydrogen for industrial use and medical applications for treating a variety of diseases and disorders. DiagnaMed aims to be a leader in providing molecular hydrogen. Our collaboration with EIREX will provide a foundation for reaching this goal.”
About EIREX
EIREX is a pioneering company at the forefront of clean energy innovation, specializing in sustainable hydrogen production. By harnessing proprietary cavitation technology, EIREX is redefining industry standards with a cost-effective, efficient, and environmentally friendly approach to hydrogen extraction from water. Dedicated to transforming hydrogen production, EIREX focuses on sustainability and operational efficiency to deliver accessible green hydrogen as a practical energy solution for a low-carbon future. With this breakthrough technology, EIREX is positioned to lead the transition toward a cleaner and more sustainable energy landscape. Visit Eirex.ca.
About DiagnaMed
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) is a life sciences company focused on molecular hydrogen and AI diagnostics for brain health. DiagnaMed is exploring the medical use of hydrogen for brain health conditions, such as neurological and mental health disorders. In addition, the Company is commercializing BRAIN AGE® Brain Health AI Platform, a world-first consumer brain health and wellness AI solution that estimates brain age and provides a brain health score. Visit DiagnaMed.com.
For more information, please contact:
Fabio Chianelli
Chairman and CEO
DiagnaMed Holdings Corp.
Tel: 416-800-2684
Email: info@diagnamed.com
Website: www.diagnamed.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “will”, “may”, “expect”, “could”, “can”, “estimate”, “anticipate”, “intend”, “believe”, “projected”, “aims”, and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the three and nine months ended June 30, 2024 (“MD&A”), dated August 22, 2024, which is available on the Company's profile at www.sedarplus.ca. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
Footnotes:
- Grandviewresearch.com. Hydrogen Generation Market Size, Share & Trends Analysis Report By System (Merchant, Captive), By Technology (Steam Methane Reforming, Coal Gasification), By Application, By Source, By Region, And Segment Forecasts, 2024 - 2030. [(accessed on 30 October 2024)]. Available online: https://www.grandviewresearch.com/industry-analysis/hydrogen-generation-market.
- G. Maggio, G. Squadrito, A. Nicita. Hydrogen and medical oxygen by renewable energy based electrolysis: A green and economically viable route. Applied Energy, Volume 306, Part A, 2022, 117993, ISSN 0306-2619, https://doi.org/10.1016/j.apenergy.2021.117993.
- Abhimanyu Pal, Shubham Kakran, Ashish Kumar, Adel Ben Youssef, Upendra Pratap Singh, Arpit Sidhu. Powering squarely into the future: A strategic analysis of hydrogen energy in QUAD nations. International Journal of Hydrogen Energy, Volume 49, Part D, 2024, Pages 16-41, ISSN 0360-3199, https://doi.org/10.1016/j.ijhydene.2023.06.169.
- Nicolson, GI., et al. 2016. Clinical Effects of Hydrogen Administration: From Animal and Human Diseases to Exercise Medicine. Int. J. Clin. Med. 7(1): 32-76. Doi:10.4236/ijcm.2016.71005.
- Chung MH, Ro JY. The Medical Uses of Hydrogen. Food Suppl Biomater Health. 2021 Mar;1(1):e5. https://doi.org/10.52361/fsbh.2021.1.e5
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13ea5d2f-3bfe-4fc8-987a-728ffc6ea31d
FAQ
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