Dear Fellow Shareholders,
As we look back at the last fiscal year, I’d like to take a moment to highlight SunHydrogen’s recent accomplishments and steadfast dedication to our goal of producing low-cost, truly green hydrogen.
As the threat of climate change commands the attention of governments and industry leaders globally,
I am pleased to share an update on the business development strategies that
Earlier this year,
This prototype is currently the only self-contained nanoparticle-based hydrogen generation device of its kind that splits water molecules into high-purity green hydrogen and oxygen using the sun’s energy.
Just like a solar panel is comprised of multiple cells that generate electricity, our hydrogen panel encases multiple hydrogen generators immersed in water. Each hydrogen generator contains billions of electroplated nanoparticles, autonomously splitting water into hydrogen and oxygen.
Our technology has the potential to be one of – if not the most – economical green hydrogen solutions: Unlike traditional water electrolysis for hydrogen, our process requires no external power other than sunlight and uses efficient and low-cost materials.
At lab scale, our team has consistently reached commercializable photovoltages and photocurrent densities using our nanoparticle units. Our next milestone is translating this lab-scale success to larger scales, and we plan to achieve this milestone by utilizing the best commercial partners and experts in the field.
Accordingly, we recently entered into a Memorandum of Understanding (MOU) with COTEC to reproduce our existing lab-scale achievements utilizing industrial electroplating processes.
We expect our initial exploration phase with COTEC to be completed by
Located in Changwon,
We are also very excited that our technology has been recognized by the Federal Government of Germany’s 7th Energy Research Program with approximately
Per the grant’s criteria, Project NanoPEC’s operations will be carried out in
Also in the fiscal year,
Every day in the US, hundreds of thousands of carbon-emitting diesel trucks travel through routes with abundant land and sun. We believe TECO 2030 is well-positioned to convert these trucks into zero-emission, hydrogen fuel cell-powered trucks, and
I invite you to read up on the many news releases issued by TECO 2030 since the start of 2023, as well as the global presence of AVL. Additional financial and historical information about TECO 2030 can be found by viewing the following analysis by
Our desire to strategically align with partners such as TECO 2030 and AVL is driven by an astute understanding of the challenges facing all businesses pioneering clean energy.
Amid a time of widespread financial sector volatility with many innovators in the renewable space struggling for capital, we are fortunate to have the resources to both fully support the development of our own technology and further our goal of maximizing our impact in the hydrogen industry through strategic investment.
As we move forward, the
Our senior leadership and board members invite you to ensure that you are on our email list for news distribution by subscribing at www.sunhydrogen.com, and to pay close attention to future developments.
Thank you very much for your continued support.
Sincerely,
About
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