Company Working with Suzhou GH New Energy Technology Co. Ltd., a division of GCL Poly, to Perform Essential Modifications to Solar Cells in the Manufacture of Hydrogen Production Panels
SANTA BARBARA, CA, April 13, 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 is working with Suzhou GH New Energy Co. Ltd., a division of GCL Poly, to make the final modifications to the solar cells required to manufacture the Gen 1 hydrogen production panels to be used in demonstration pilot plants.
“While we have experienced some delays in processing due to Covad 19, the work in China is now ongoing,” said Tim Young, CEO of HyperSolar. “We have evaluated many suppliers globally and have found that our connection to Suzhou GH has been our best and most reliable option. “Our relationship with them has also connected us to other high-quality and economical suppliers for the processing of the cells and building modules.”
In 2019, China issued Patent No. ZL201580026002.0 allowing protection for HyperSolar’s intellectual property in China related to using multi-junction solar cells to produce hydrogen. To further support the economics of the new panel, there is currently no tariff on the solar cells the company buys from China.
Mr. Young concluded, “Suzhou GH is the ideal partner to help us finalize our Gen 1 development and begin the process of building demonstration plants.”
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: 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.