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    HYSR   US86738R1086

SUNHYDROGEN, INC.

(HYSR)
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SunHydrogen : Extends Research Agreement with University of Iowa, CEO Tim Young visits SCHMID Facility

09/15/2021 | 07:00am EDT

SANTA BARBARA, CA , Sept. 15, 2021 (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 extended its sponsored research agreement with the University of Iowa for the next 12 months.

The renewed commitment will allow the company to continue working to develop its nanoparticle-based green hydrogen technology to commercial scale. A longtime development partner to SunHydrogen, The University of Iowa research team has worked diligently over the past several years to both lead and optimize the scale-up of the company’s nanoparticle technology.

Most recently, the University of Iowa team has worked very closely with the company’s development partner, SCHMID Group in Freudenstadt, Germany, to develop the process and equipment for manufacturing.

This week, SunHydrogen CEO Tim Young will visit the SCHMID facility to meet with their development team and evaluate progress. Investors can expect a more substantial update on operations at the SCHMID facility in the coming weeks once the visit is concluded.

“We’re extremely pleased to have extended our sponsored research agreement with the University of Iowa for another year, and I’m thankful for the opportunity to be in Freudenstadt this week,” Young said. “Continued collaborative work between the University of Iowa and SCHMID is vital to us as we drive our technology to commercialization.”

Research at the University of Iowa will continue to be led by SunHydrogen Director of Technology Dr. Joun Lee and University of Iowa Professor and SunHydrogen Lead Scientist Dr. Syed Mubeen.

About SunHydrogen, Inc.
SunHydrogen is developing a breakthrough, low-cost technology to make renewable hydrogen using sunlight and any source of water, including seawater and wastewater. The only byproduct of hydrogen fuel is pure water, unlike hydrocarbon fuels such as oil, coal and natural gas that release carbon dioxide and other contaminants into the atmosphere when used. 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, ultimately producing 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 SunHydrogen, please visit our website at www.SunHydrogen.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: our ability to successfully negotiate agreements with suppliers and manufacturers of our hydrogen generation panels, our ability to procure project financing, our ability to retain the service of a qualified engineering firm to design and build a pilot plant, our ability to secure an agreement with a partner for the pilot plant, the impact of economic, competitive and other factors affecting the company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; the impact of public health epidemics on local and global economies and other factors detailed in reports filed by the company.

Press Contact:
info@sunhydrogen.com


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Source: SUNHYDROGEN, INC.

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 - - -
Net income 2021 -81,5 M - -
Net cash 2021 55,2 M - -
P/E ratio 2021 -2,05x
Yield 2021 -
Capitalization 164 M 164 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 4
Free-Float 93,9%
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Managers and Directors
Timothy Alan Young Chairman, President, Chief Executive Officer & CFO
Joun-Ho Lee Director-Technology
Blake Bryson Manager-Technology Development
Woosuk Kim Chief Operating Officer & Director
Mark J. Richardson Independent Director
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