SANTA BARBARA, CA , March 11, 2020 (GLOBE NEWSWIRE) -- HyperSolar, Inc. (OTC:HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced that it has entered into a Memorandum of Understanding (“MOU”) with Cascadia Energy Technologies, of Corvallis, Oregon. The agreement establishes a collaborative association to advance the interests of each company. The work together will focus on prospective renewable energy projects, and most importantly for HyperSolar, on-going business development.
Management anticipates that Cascadia will also be able to identify multiple sites for Gen 1 demonstration units.
“Our collaboration with Cascadia is meant to be a long-term association,” said Tim Young, CEO of HyperSolar. “We share common values and objectives in the production of green energy, with a specific focus on green hydrogen. In the short term, Cascadia will help us find sites for our pilot plants. And in the longer term, we believe that their team will be of great help in proliferating our technologies. Their contacts and outside relationships will bolster the commercial side of our business.”
John Gentile, President of Cascadia, said, “We are excited about the opportunity of working with HyperSolar and helping to promote what we believe will be a game changing technology in the world of truly green energy. With our commercial connections, we can help HYSR get to revenue more quickly than may otherwise be possible.”
Cascadia’s mission is the production of 100% clean, renewable fuel and energy from local and regional resources to accelerate Zero Emission Heavy Vehicle (ZEV-Heavy) mobility. Trucks, Buses, Trains, and port facilities. Ultimately, to support Local Fuels ‘eco-systems’ securing the economic benefits of our society within safe, community-based transitions to a 100% clean, renewable energy future.
The MOU contains an agreement of confidentiality that governs the sharing of information and protects trade secrets of each organization.
For more information on Cascadia, see https://cascadiaenergytechnologies.com/
Mr. Young concluded, “With the impending production of working panels of Gen 1 technology, we approach the point at which we are very interested in connecting with organizations who will be in need of our technology for their distributed hydrogen requirements. We believe that our association with Cascadia will help accelerate that process.”
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.
About Cascadia Energy Technologies
Cascadia’s primary mission is to enable locally available, affordable, energy dense, and renewable fuels. Renewable 'Drop In' diesel and ultra pure hydrogen. Further, we supply fuel cell power equipment for freight handling and bus transportation. By supporting the growth of Local Fuel™ 'eco-systems' market dynamics lead to an acceleration of a 100% clean energy transition. The time is right and the demand for good paying jobs with a future, cross-problem energy and climate solutions, and the empowerment of the next generation of leaders is now. Local Fuels protect current societal benefits and simultaneously offer one of the best ways to impact urgent energy storage challenges at the scale necessary and within a practical timeframe. https://cascadiaenergytechnologies.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 its 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 to with a partner with us 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; and other factors detailed in reports filed by the Company.