SANTA BARBARA, CA , April 28, 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 executed a Technical Services Agreement with engineering giant, Fluor, http://www.fluor.com/ in preparation for engineering required for a future pilot plant and other projects.
“We believe that our renewable hydrogen generation technologies will help change the world’s reliance on fossil fuels,” said Tim Young, CEO of HyperSolar. “Picking one of the best engineering firms in the world early in our process fits our objective. Collaborating with Fluor will set a trusted standard for the construction of what we believe will be many renewable hydrogen generation plants around the globe.”
It is the Company’s intention to begin by having Fluor conduct a feasibility study focused on the design of mini-pilot plants initially for small quantities of hydrogen production, as well as documenting the cost of creating plants of varying production levels and in different geographies. Furthermore, the study is anticipated to include a standardized design, which will then be customized to individual customer sites.
Mr. Young concluded, “Because of their worldwide experience and the relationship we have developed already, Fluor is an ideal engineering partner.”
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.
Fluor is one of the world's largest publicly-traded engineering, procurement, construction (EPC) and maintenance companies. Fluor works with Clients in diverse industries around the world to design, construct and maintain their capital projects. (http://www.fluor.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.