SunHydrogen CEO Tim Young and COTEC CEO Ju-Won Choi formally signed the Memorandum of Understanding on July 5, 2023.
CORALVILLE, IA, July 11, 2023 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTC: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced that it has entered into a Memorandum of Understanding (MOU) with COTEC to explore the development and optimization of industrial electroplating solutions for SunHydrogen’s semiconductor deposition, a fundamental component of the Company’s nanoparticle technology.
Located in Changwon, South Korea, COTEC is a leader in industrial electroplating and electrochemical processes and is well-positioned to collaborate with SunHydrogen in this critical aspect of the Company’s scale-up process. COTEC possesses extensive plating expertise across the aerospace, automotive, defense and nuclear industries, and has worked with high-level clients such as Boeing, Hanwha, Airbus and more.
Within one of SunHydrogen’s hydrogen generators, billions of patented Photoelectrosynthetically Active Heterostructure (PAH) nanoparticles per square centimeter split apart water to generate hydrogen and oxygen. These PAH nanoparticles are composed of multiple layers of solar cells. The high-voltage, high-light absorbing properties of the solar cells enable the Company to make them ultrathin and with significantly fewer materials, lowering costs and raising efficiency. Together, SunHydrogen and COTEC will explore the development and implementation of electroplating solutions to translate the existing PAH architecture and process to manufacturing scale while maintaining low cost and high efficiency.
“As SunHydrogen has built relationships with a growing group of industrial partners over the past several years, we’ve learned that our scale-up process is most effective when we take a diversified approach that allows for specialized expertise to be directed to the many individual components of our technology,” said SunHydrogen’s CEO Tim Young.
“This is evidenced by our recent announcement of the approval of $3.1 million in funding for Project NanoPEC, a 3-year initiative that will bring us together with six partners in Germany to accelerate our scale-up process,” Mr. Young continued. “At lab scale, our team has consistently reached favorable photovoltage and photocurrent densities, but our current challenge is translating this success to larger scales. It is this challenge that we believe companies like COTEC – and our partners in Germany – can help us overcome.”
Mr. Young, as well as SunHydrogen’s Director of Technology Dr. Joun Lee, both made visits to COTEC’s Changwon facility in 2023, and this week members of COTEC’s team visited SunHydrogen’s Iowa headquarters to sign the MOU and visit SunHydrogen’s laboratory. Earlier in the year, COTEC demonstrated to SunHydrogen their ability to electrodeposit materials at nanoscale.
“We believe this opportunity holds significant potential for SunHydrogen and COTEC to collaborate on the development of industrial electroplating solutions,” said COTEC’s CEO and Chairman Ju-Won Choi. “This Memorandum of Understanding represents a shared commitment to accelerating the global adoption of green hydrogen as a clean and renewable energy source.”
About SunHydrogen, Inc.
SunHydrogen is developing breakthrough technologies to make, store and use green hydrogen in a market that Goldman Sachs estimates to be worth $12 trillion by 2050. Our patented SunHydrogen Panel technology, currently in development, uses sunlight and any source of water to produce low-cost green hydrogen. Similar to solar panels that produce electricity, our SunHydrogen Panels will produce green hydrogen. Our vision is to become a major technology supplier in the new hydrogen economy. By developing, acquiring and partnering with other critical technologies, we intend to enable a future of emission-free vehicles, ships, data centers, aircrafts and more. To learn more about SunHydrogen, please visit our website at www.SunHydrogen.com.
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