NewHydrogen’s focus on lowering the cost of green hydrogen will help accelerate the transition to green energy

Rhea-AI Summary

NewHydrogen, Inc. (OTC:NEWH) emphasizes the growing significance of green hydrogen in the global energy sector, particularly in light of the war in Ukraine and recent IPCC reports calling for reduced emissions. The upcoming approval of the REPowerEU action plan on May 18 aims to enhance Europe's energy independence, boosting demand for alternative energy sources like green hydrogen. NewHydrogen's research at UCLA shows advancements in reducing the costs of electrolyzers by minimizing the use of precious metals, paving the way for affordable green hydrogen production, essential for a sustainable energy transition.

Positive

• Significant advancements reported in reducing electrolyzer costs through less reliance on precious metals.
• The REPowerEU action plan is anticipated to drive demand for renewable energy, including green hydrogen.
• Growing global trends favoring green hydrogen production and sustainability initiatives.

Negative

• None.

Latest global trends clearly point to green hydrogen becoming a key component of a sustainable energy future

SANTA CLARITA, Calif., May 17, 2022 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTC:NEWH), the developer of a green hydrogen generator, today stated that the latest trends point to hydrogen produced from renewable sources becoming a key component of a sustainable energy future, which will likely elevate the need for the Company’s catalyst technology aimed to reduce the cost of producing green hydrogen.

Despite market uncertainty in many sectors, the global push toward realizing a green hydrogen economy remains extremely strong. The war in Ukraine is drawing increased attention to the importance of energy security. The recent IPCC report highlights the critical need to lower global emissions to improve our environment. Now is clearly the time for countries and communities around the world to accelerate the move to green energy.

The European Commission is expected to approve the REPowerEU action plan on May 18, giving a significant boost to Europe's energy independence and positioning Europe to be completely independent from Russian fossil fuels by 2030 following expected approval by the European Parliament and national energy ministers in the EU Council. The White House recently reaffirmed the US commitment to Europe’s energy security and sustainability and to accelerating the global transition to clean energy. These commitments will increase the demand for clean alternative energy sources, including green hydrogen.

“An electrolyzer – the primary component of a hydrogen generator – is still very expensive,” said Spencer Hall, COO of NewHydrogen. “The latest results from NewHydrogen’s sponsored research at UCLA show significant progress toward the goal of producing low-cost green hydrogen by replacing or drastically reducing the use of precious metals in electrolyzers, which represent a significant cost factor.”

“Our team is very excited to be part of this growing worldwide effort to establish hydrogen as a key source of energy,” Hall continued. “Green hydrogen, which is produced with electricity from renewable sources, meets these goals. We believe that lowering the cost of producing green hydrogen will play a critical role as the world shifts away from fossil fuels.”

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 is the significance of green hydrogen for NewHydrogen, Inc. (NEWH)?

Green hydrogen is becoming essential for a sustainable energy future, especially amid global energy security concerns.

What advancements has NewHydrogen made towards reducing electrolyzer costs?

NewHydrogen's research at UCLA indicates progress in minimizing the use of precious metals in electrolyzers, which helps lower production costs.

How will the REPowerEU action plan impact NewHydrogen, Inc. (NEWH)?

The REPowerEU action plan is expected to boost the demand for green hydrogen, positively impacting NewHydrogen's business prospects.

How does the war in Ukraine affect the demand for green hydrogen?

The war in Ukraine has heightened awareness of energy security, increasing the urgency for clean energy sources like green hydrogen.

What environmental commitments have been emphasized by the U.S. government relevant to green hydrogen?

The U.S. government has reaffirmed its commitment to energy security and sustainability, accelerating the transition to clean energy including green hydrogen.