SANTA BARBARA, CA, Nov. 29, 2022 (GLOBE NEWSWIRE) — SunHydrogen, Inc. (OTC: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today shared that it has accepted a $45 million investment commitment from GHS Investments, LLC, of Jericho, New York.
The proceeds will be used in part to further the development of SunHydrogen’s nanoparticle-based green hydrogen technology, and in parallel to enable the Company to invest in and co-develop other complementary technologies across the renewable hydrogen value chain.
The Company remains committed to developing its nanoparticle technology to commercialization, with its most immediate internal goal being the successful demonstration of a first-ever, production-quality prototype.
However, with the addition of the $45M capital commitment, SunHydrogen also looks to realize its goal of furthering renewable hydrogen technology to grow the hydrogen ecosystem. Specifically, SunHydrogen seeks to make strategic investments by partnering with other early-stage companies to enable and assist them in reaching their own manufacturing stages.
This vision is evidenced by SunHydrogen’s recent $10M strategic investment in Norway-based TECO 2030, the developer of zero-emission technology for the maritime and heavy industry sectors.
“This investment commitment from GHS ushers in a new era of SunHydrogen as a technology company for the green hydrogen economy,” said SunHydrogen’s CEO Tim Young.
“Our mission to develop, acquire and partner with other critical technologies brings significant value to our investor base,” Mr. Young continued. “Our cooperation with TECO 2030 is a prime example of this.”
For further information regarding the terms and conditions of GHS’s investment commitment, see the Company’s 8-K filed with the Securities and Exchange Commission on November 22, 2022.
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, aircraft and more. To learn more about SunHydrogen, please visit our website at www.SunHydrogen.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements. 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 there is no guarantee that we will attain the aforementioned anticipated developmental milestones, or that we will realize a return on our investment in TECO 2030. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties and other factors, known and unknown, including the risk factors described from time to time in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking statements contained herein are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements, except as may be required under applicable law.
Copyright 2022 GlobeNewswire, Inc.