NewHydrogen continues progress toward lowering the cost of green hydrogen

Rhea-AI Summary

NewHydrogen, Inc. (OTC:NEWH) has announced progress in its green hydrogen technology development, focusing on lowering production costs by reducing reliance on expensive precious metals in electrolyzers. The company has achieved significant milestones since December 2020, including partnerships with UCLA to create efficient catalysts and a manufacturing agreement with Verde, LLC. NewHydrogen aims to enhance catalyst stability and integrate these innovations into prototype electrolyzers, positioning itself for substantial market opportunities in the green hydrogen sector.

Positive

• Achieved significant milestones in green hydrogen technology development.
• Entered into a research partnership with UCLA to enhance catalyst efficiency.
• Developed non-precious metal catalysts, potentially lowering electrolyzer costs.
• Executed a manufacturing supply agreement with Verde, LLC for green hydrogen systems.

Negative

• None.

NewHydrogen COO highlights the company’s technological and corporate milestones, and outlines next steps

SANTA CLARITA, Calif., July 06, 2022 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTC:NEWH), a developer of a green hydrogen generator, today provided an update outlining corporate milestones and the next steps to establish longer-term commercial viability.

“NewHydrogen has made significant progress towards its goal of developing technologies that lower the cost of producing green hydrogen, accelerating the timeline for large-scale applications in high growth markets,” said Spencer Hall, NewHydrogen’s COO.

The goal of NewHydrogen’s sponsored research at the University of California Los Angeles (UCLA) is to lower the cost of green hydrogen by eliminating or drastically reducing the use of precious metals in electrolyzers. Electrolyzers currently rely on rare materials such as iridium and platinum. These materials often account for a substantial portion of the cost of electrolyzers.

NewHydrogen has achieved several milestones since the commencement of its green hydrogen technology program in December 2020, including, but not limited to, the following:

• Entered into a sponsored research agreement with UCLA to develop efficient and stable earth-abundant material-based catalysts for hydrogen production through electrolysis. The scope of the research was later expanded to include hydrogen evolution reaction (HER) catalysts in addition to oxygen evolution reaction (OER) catalysts.
  
  
• Developed an OER catalyst that does not use iridium and with significant improvement for PEM electrolyzers. In-depth analysis of the catalytic materials before and after the structural modification provided a path to further improvements in the future.
  
  
• Developed an HER catalyst that uses an order of magnitude less platinum for alkaline electrolyzers. Creating a locally low pH environment at the platinum surface resulted in significant improvement on HER kinetics.
  
  
• Developed an HER catalyst that does not use any platinum for anion exchange membrane (AEM) electrolyzers. The single-atom catalyst has consistently shown to have lower overpotential with higher mass activity when compared to commercial platinum-based HER catalysts.
  
  
• Executed a manufacturing supply agreement with Verde, LLC, a Massachusetts-based manufacturer of state-of-the art green hydrogen generation systems that will later allow the Company to deploy green hydrogen generators to intermittent renewable power sites to demonstrate economic viability of new technology under development.
  
  

Several key objectives that NewHydrogen seeks to achieve moving forward include the following:

• Further improve the stability of the non-precious metal-based OER catalyst at high current density.
  
  
• Further improve the stability of the HER catalyst that uses an order of magnitude less platinum.
  
  
• Incorporate HER/OER catalysts into a prototype electrolyzer that will serve as a reference prototype to demonstrate NewHydrogen’s catalyst technology to produce low-cost green hydrogen.
  
  
• Continue to foster partnerships and actively participate in green hydrogen industry consortium activities.
  
  

“While we work to achieve these milestones, we are highly optimistic about bringing NewHydrogen technologies to market in the coming years,” Hall said. “As high-growth industries continue to adopt new and improved electrolyzer technologies, the market opportunity for customer adoption and revenue generation is tremendous for a solution like ours.”

About NewHydrogen, Inc.

NewHydrogen is developing a breakthrough green hydrogen generator that uses renewable energy to produce low-cost green hydrogen. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. Unfortunately, hydrogen does not exist in its pure form on Earth so it must be extracted from a source that contains hydrogen. For centuries, scientists have known how to split water into hydrogen and oxygen using a simple and elegant device called an electrolyzer. Unfortunately, an electrolyzer – the primary component of a hydrogen generator – is still very expensive. NewHydrogen is developing breakthrough technologies to enable the next generation of low cost electrolyzers. The Company’s initial focus is on replacing and reducing expensive rare earth materials, to help usher in the green hydrogen economy that Goldman Sachs estimated to have a future market value of $12 trillion.

To learn more about the company, please visit 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.

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

FAQ

What are NewHydrogen's recent technological advancements?

NewHydrogen has made several advancements, including developing non-precious metal catalysts and forming partnerships to enhance hydrogen production efficiency.

What is NewHydrogen's goal with their green hydrogen technology?

NewHydrogen aims to lower the cost of producing green hydrogen by reducing reliance on precious metals in electrolyzers.

What agreement did NewHydrogen enter into with UCLA?

NewHydrogen has entered a sponsored research agreement with UCLA to develop efficient catalysts for hydrogen production.

What is the significance of the partnership with Verde, LLC?

The partnership allows NewHydrogen to demonstrate the economic viability of its green hydrogen generators in real-world settings.

What market opportunities does NewHydrogen see in the future?

NewHydrogen anticipates substantial market opportunities as high-growth industries adopt new electrolyzer technologies.