SANTA BARBARA, CA , June 25, 2019 (GLOBE NEWSWIRE) -- HyperSolar, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, announced today that it has extended its sponsored research agreement with the University of Iowa through May 31, 2020. The new commitment will allow the Company to continue to aggressively pursue a hydrogen production technology process intended to meet the internationally growing demand for renewable hydrogen, fueled by the transportation and materials handling sectors.
“As we move closer to building a full demonstration pilot plant with our first-generation technology, our efforts are focused on replicating the success we have had in the University of Iowa Labs with commercial entities that will integrate the essential components of the solar hydrogen generation device including protective coatings, catalysts and membranes” said Tim Young, CEO of HyperSolar. “Specifically, we are working with multiple companies to achieve a mass production strategy for protective coatings that will protect the thousands of cells to be deployed in the pilot plant. University of Iowa’s record-breaking development work, as demonstrated in the 1000 hours of continuous device operation with our GEN 1 Cells, has made it possible for us to take the company to the next level.”
The agreement also covers the extensive development work to complete and commercialize the company’s GEN 2 nanoparticle hydrogen production panels that will deploy a much higher solar-to-hydrogen efficiency than GEN 1 at lower manufacturing cost. The work will continue to be led by University of Iowa Assistant Professor Dr. Syed Mubeen and HyperSolar CTO Dr. Joun Lee.
About HyperSolar, Inc.
HyperSolar is developing a breakthrough, low cost technology to make renewable hydrogen using sunlight and any source of water, including seawater and wastewater. Unlike hydrocarbon fuels, such as oil, coal and natural gas, where carbon dioxide and other contaminants are released into the atmosphere when used, hydrogen fuel usage produces pure water as the only byproduct. By optimizing the science of water electrolysis at the nano-level, our low-cost nanoparticles mimic photosynthesis to efficiently use sunlight to separate hydrogen from water, to produce environmentally friendly renewable hydrogen. Using our low-cost method to produce renewable hydrogen, we intend to enable a world of distributed hydrogen production for renewable electricity and hydrogen fuel cell vehicles. To learn more about HyperSolar, please visit our website at www.hypersolar.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, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. 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, product, and distributor performance, th e impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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