The La Jolla, CA.-based investment fund is the largest student run fund in the U.S. and its investment in HYSR will help drive the development of the Company’s breakthrough green hydrogen production technology
SANTA BARBARA, CA, July 28, 2020 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTC: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced it has received a commitment for the purchase of up to $2.1 million in common stock from Triton Funds LP, of La Jolla, CA (“TRITON”), pursuant to a common stock purchase agreement between the Company and TRITON. The investment will help accelerate the development of the Company’s nanoparticle hydrogen production technology.
TRITON was founded by and is currently managed by students from the University of California, San Diego, and is backed by scientific and academic advisory boards. TRITON is the largest student-run investment fund in the United States and focuses on “millennial growth ESG” (Environmental, Social and Governance) investment themes.
“In 2012, our Company entered into an agreement with the University of California at Santa Barbara to begin the development of our unique green hydrogen production technology,” said Tim Young, CEO of SunHydrogen. “It is gratifying to be involved with an investment fund that has been envisioned and managed by professionals educated in California’s state university system to support forward looking companies like ours. Our breakthrough technology has the potential to dramatically change the world of energy production.”
Mr. Young continued, “Funding from TRITON will be very helpful in providing the resources required to reduce the time it will take to bring our technology to market. The Company intends to use proceeds from the TRITON investment to build shareholder value by adding key technical personnel and equipment needed to support development acceleration, future commercialization, and collaboration with strategic partners.”
Principal of TRITON, Jared Alexandria, commented, “SunHydrogen fits our model perfectly. The millennial generation is extremely concerned with the current efforts to keep our planet clean and SunHydrogen has the potential to bring about a whole new paradigm for clean energy production. We believe the Company’s technology may be the answer to providing inexpensive green hydrogen and ushering in the long hoped-for hydrogen economy. If so, then our investment will have helped change the world.”
The shares are being offered by SunHydrogen, Inc. pursuant to an effective "shelf" registration statement previously filed with and subsequently declared effective on July 8, 2020 by the Securities and Exchange Commission. The securities are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The terms of the investment are disclosed in the prospectus supplement filed with the Securities and Exchange Commission.
About SunHydrogen, Inc.
SunHydrogen 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 SunHydrogen, please visit our website at www.SunHydrogen.com.
About TRITON FUNDS LLC
Triton Funds is the nation’s largest student venture investment fund, managed entirely by students from UC San Diego located in Southern California. With $25M AUM, Triton Funds has taken an active part in both the San Diego ecosystem and nationwide, focusing on investments that will have a lasting positive impact on the Millennial generation with a portfolio of both private and public companies. The aim of Triton Funds is to create a student learning platform that will provide real-world experience and help bridge the gap between a STEM dominated university and Wall Street, helping students jumpstart their careers in finance, while providing strategic capitalization, business development support, and engineered exits to organizations with a viable future in the modern economy. Follow the Triton Funds story by visiting the Triton Funds website, Instragram, Twitter, or reach out directly via email. More information can be found at http://www.tritonfunds.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 with the Securities and Exchange Commission.