SANTA BARBARA, CA , Oct. 09, 2018 (GLOBE NEWSWIRE) -- HyperSolar, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and any source of water, has released a corporate update for its shareholders from its Chief Executive Officer:
As we enter the fourth quarter of calendar 2018, HyperSolar continues to work toward its primary goal of commercializing technology that will produce very pure renewable hydrogen using sunlight and water. We wholeheartedly believe that the investment being made to work towards this goal is critical to meet the renewable energy and environmental needs of the world.
To that end, HyperSolar has achieved a number of milestones thus far in 2018 for our first and second product generations. As previously announced, the first-generation will use commercially available solar cells, while the second-generation will feature our proprietary nanoparticle technology that features increased photovoltages and efficiencies to deliver even lower-cost renewable hydrogen. These milestones include:
- Exceeded over 1000 hours of stable operation of the proprietary earth-abundant catalyst under alkaline water. The catalyst is one of the most important components of the solar hydrogen generator, making its stability over a long period of time crucial to increasing the lifetime of the generator, a feature critical to making the product commercially viable. HyperSolar has successfully developed and demonstrated long-term stability of the catalysts that would operate for a year in the hydrogen generator.
- Surpassed 365 hours of stable hydrogen production with HyperSolar’s proprietary generator device. The integrated solar hydrogen production unit, that comprises solar cell unit, protective coatings and catalysts, has demonstrated stable hydrogen production for the longest hours of operation recorded to date to our knowledge using readily available commercial solar cells. We continue to work towards our 1000-hour goal utilizing vendors and partners in this endeavor to ensure our ability to have a mass-manufactured commercial product.
- Developed and improved the protective coating technologies on the hydrogen generation device that further increase the lifetime of the device. The coating technology to protect the integrated solar cell under water was further improved by the composition and the application process of the protective layers. The success in the protective coating development translates into longer lifetime of the solar hydrogen generation device and lower production cost of hydrogen.
- Built initial prototypes that will lead to commercial prototype development that includes material design and evaluation. Several small-scale prototype devices were manufactured in identical design to the large-scale prototype devices as an initial phase of the commercial prototype development, a critical step as we continue to pursue potential manufacturing partners.
- Identified and initiated dialogue with commercial manufacturing vendors for developing manufacturing commercial grade hydrogen production device. HyperSolar is working with various manufacturing vendors to line up the commercialization plan for the solar hydrogen generators.
- Successfully stacked dual junction nanoparticle solar cells for hydrogen generator for high voltage application. HyperSolar continues to develop in-house manufactured nanoparticle solar cell that will provide higher photovoltage, lower manufacturing cost and longer stability compare to any commercially available solar cells. Once fully developed, the nanoparticle solar cell will be able to replace the commercial solar cell component in the first-generation solar hydrogen generators to improve the production efficiency and lower the hydrogen production cost.
- Achieved further IP protection in the US and Australia for our nanoparticle technology. In April we were issued US Patent No. 9,935,234 for the “Methods of Manufacturing Photoelectrosynthetically Active Heterostructures,” critical to protecting the intellectual property rights related to the development of our second generation technology. In August, we were granted a patent from the Australian Government entitled “Multi-junction artificial photosynthetic cell with enhanced photovoltages” issued as Patent No. 2015231504. This patent is jointly owned by HyperSolar and the Regents of the University of California, as a result of the collaboration with the University of California, Santa Barbara in developing the technology. This patent protects our ability to stack junctions of various materials necessary to achieve the required photovoltages of our nanoparticle technology. We expect this patent to grant in the US in the fall of 2018.
While there is much yet to do, we believe there is momentum building after the painstaking initiation of our technology development. HyperSolar management believes that in the coming months, the Company will be able to accelerate progress toward commercialization of its technology.
We appreciate the help and patience of our shareholders and will continue to keep you up to date on our progress.
Chief Executive Officer
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 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: Info@hypersolar.com