SANTA BARBARA, CA , Sept. 24, 2020 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced it has agreed to accept an equity investment of up to $4 million from GHS Investments, LLC, of Jericho, New York (“GHS”). The proceeds from the investment will be used to accelerate the development of the Company’s nanoparticle hydrogen production technology and other strategic initiatives.
GHS Investments is a privately held fund focused on small to mid-cap Companies. GHS is industry agnostic and focuses on “super value” companies with a good operating entity and a strong management team.
Mark Grober, of GHS said, “We see the quality and business potential that HYSR brings forth and its commitment to building shareholder value. We are looking forward to our investment and excited to be working with HYSR."
An article in Barron’s by Steve Goldstein this week states that Goldman Sachs is bullish on investment in Green Hydrogen. Goldman, according to the article, said that it is a “once in a lifetime” opportunity and that the addressable market could be worth $11.7 trillion by 2050.
Tim Young, CEO of SunHydrogen, said, “The market opportunity is enormous. We believe that our nanoparticle hydrogen production technology will be highly scalable and will produce green hydrogen at a very low cost. Our approach is truly a breakthrough and could dramatically alter the future of renewable energy. We feel a great sense of urgency and responsibility as we accelerate our development efforts.”
Mr. Young concluded, “GHS has a great reputation and will be a great partner. Their funding is timed perfectly.”
The terms of the investment have been disclosed on a form 8-K filed with the U.S. 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.
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, th e 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.