HyperSolar Encouraged by National Support for Hydrogen Fuel
20 May 2014 - 5:15PM
Marketwired
HyperSolar Encouraged by National Support for Hydrogen Fuel
Recent Announcements Show Market Willingness to Invest in
Hydrogen
SANTA BARBARA, CA--(Marketwired - May 20, 2014) -
HyperSolar, Inc. (OTCQB: HYSR), the developer of a
breakthrough technology to produce renewable hydrogen using
sunlight and any source of water, commented today on the abundance
of recent news and funding announcements positively supporting
hydrogen fuel use and infrastructure.
The month of May has been an extremely newsworthy month for the
hydrogen-fuel industry. On May 1st, the California Energy
Commission announced its decision to award FirstElement Fuel $27.6
Million to support the company in developing a hydrogen fueling
network which would enable California consumers to drive and fill
up their fuel cell vehicles by fall of 2015. Overall, the
California Energy Commission announced approximately $46.6 million
in funding, which is intended to support the addition of 28 new
hydrogen stations to the nine that already exist. With 17 more
already under development, the state anticipates being over halfway
to its goal of 100 hydrogen-fueling stations.
Additionally, on May 12, Toyota announced plans to allow its
battery supply deal with Tesla to expire, where it will then focus
on hydrogen fuel cell vehicles and technology. According to the New
York Times, Toyota said its "focus this year would instead be on
its four-door sedan powered by hydrogen fuel cells, which it plans
to introduce in California next year. The automaker will also focus
on developing hydrogen refueling stations to support fuel-cell
technology."
"Now is a very exciting time
for those in the hydrogen fuel community who have provided
significant funding and time towards next generation technology,"
said Tim Young, CEO of HyperSolar. "These recent announcements show
that both the private and public sectors fully grasp the market
potential, and are committed to a cleaner, more efficient future.
While the majority of these stations coming online in California
will distribute hydrogen produced from natural gas, a fossil fuel,
HyperSolar's technology provides a method of producing green
hydrogen using an entirely renewable process. We believe that we
can fulfill a substantial role within the hydrogen fuel
infrastructure as we progress towards our goal of producing
cost-effective renewable hydrogen at or near the point of
distribution."
HyperSolar's technology is
based upon the concept of developing a low-cost, submersible
hydrogen production particle that can split water molecules using
sunlight without any other external systems or resources -- acting
as artificial photosynthesis. A video of an early proof-of-concept
prototype can be viewed at
http://hypersolar.com/application.php.
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 http://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, the
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.
Press Contact:
Eric Fischgrund FischTank Marketing and PR Email Contact
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