NewHydrogen Reports Progress on Lowering the Cost of Producing Green Hydrogen

Rhea-AI Summary

NewHydrogen, Inc. (OTC:NEWH) is advancing its green hydrogen technology aimed at reducing production costs. With support from federal investments, including $8 billion for clean hydrogen hubs, the company is well-positioned in the growing green hydrogen market. The HyDeal LA initiative is establishing a significant green hydrogen hub in Southern California. NewHydrogen's research efforts focus on developing low-cost electrolyzers that minimize reliance on expensive precious metals, potentially enhancing long-term cost efficiency in hydrogen production.

Positive

• Secured $8 billion federal support for clean hydrogen development.
• Active participation in the establishment of the HyDeal LA green hydrogen hub.
• Research focuses on low-cost electrolyzers, significantly reducing reliance on precious metals.

Negative

• None.

Trends in 2022 point to hydrogen produced from renewable sources becoming a key component of a sustainable energy future

SANTA CLARITA, Calif., Jan. 11, 2022 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTC:NEWH), a developer of green hydrogen technologies, today provided an update about the progress of its technology program and its efforts to reduce the cost of producing green hydrogen.

The Company also reports that trends in 2022 point to hydrogen produced from renewable sources becoming a key component of a sustainable energy future.

Despite market uncertainty in many sectors, the global push toward realizing a green hydrogen economy remains extremely strong entering 2022. In Europe, the green hydrogen supply chain is growing rapidly, especially in Spain, France, and Germany. As noted at the recent conference of the Green Hydrogen Coalition, which NewHydrogen attended, the German government is transitioning its energy resources to green hydrogen and away from coal and natural gas, with all dispatchable energy to be hydrogen-sourced.

In the United States, the recently passed federal infrastructure bill included:

• $8 billion to develop regional clean hydrogen hubs
• $1 billion to decrease the cost of electrolytic hydrogen production
• $500 million for a clean hydrogen manufacturing and recycling program to support domestic supply chain development
• A grant program to support EV and fuel cell EV infrastructure

Close to NewHydrogen’s home in Southern California, the HyDeal LA initiative is creating a green hydrogen hub across the Los Angeles area. The hub is building out support for production, transport, and storage of green hydrogen, as well as fueling for energy, transportation, industrial, maritime, and aviation industries. The hub is already creating significant new jobs supporting families in the LA area and providing a model of opportunities that will be available around the world.

The goal of NewHydrogen’s sponsored research at 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 earth materials such as iridium and platinum. These materials often account for nearly 50% of the cost of electrolyzers.

In 2021, the program developed a non-precious metal-based catalyst with significant improvement of oxygen evolution reaction (OER) in acidic conditions for proton exchange membrane (PEM) electrolyzers. Researchers then improved the catalyst performance by modifying the structure and optimizing loading conditions. Most recently, application of a unique surface engineering technique further improved the long-term stability of the catalyst. Higher stability implies reduced operating cost of electrolyzers in the longer term.

In a parallel effort, researchers have been developing hydrogen evolution reaction (HER) catalysts for alkaline electrolyzers. Their work is focused on developing platinum based HER catalysts that use significantly less platinum, as well as a totally new type of HER catalyst that does not use platinum at all. To date, significant progress has been made on both fronts. This is in line with the Company’s focus on developing OER catalysts to enable electrolyzers that cost less to manufacture and to operate.

“Prior to scaling up the process for studies with a prototype electrolyzer in late 2022, researchers will continue to explore additional improvements to both the OER and the HER catalysts to maximize the overall performance of an actual water electrolysis device,” said Dr. David Lee, CEO of NewHydrogen.

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 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 recent financial support has NewHydrogen, Inc. received for clean hydrogen production?

NewHydrogen, Inc. received part of an $8 billion federal investment to develop regional clean hydrogen hubs.

How is NewHydrogen, Inc. contributing to the green hydrogen economy?

NewHydrogen is focused on developing low-cost electrolyzers to produce green hydrogen, reducing reliance on expensive precious metals.

What initiatives is NewHydrogen, Inc. involved in for green hydrogen production?

The company is involved in the HyDeal LA initiative, which is creating a green hydrogen hub in Southern California.

What is NewHydrogen, Inc.'s goal for electrolyzer technology?

The goal is to lower the cost of green hydrogen production by eliminating or significantly reducing the use of precious metals in electrolyzers.