07 May SunHydrogen – A potential gamechanger in renewable energy
SunHydrogen, Inc. (OTCPK: HYSR) formerly known as HyperSolar Inc, is a pioneer in the production of nanoparticle systems that are not only powered by solar energy, but can also mimic photosynthesis, to separate hydrogen from water. The Company has developed a breakthrough technology that can harness renewable hydrogen energy from the sun as well any water source. SunHydrogen’s unique technology leverages the science behind water electrolysis to produce environmentally friendly renewable hydrogen.
In April 2021, the Company announced the completion of its proof-of-concept demonstration units through Suzhou GH New Energy, which use multi-junction amorphous silicon solar cells. These units show the potential for scalable growth and the commercial viability of its patented nanoparticle technology. The Company intends to use these demonstration units to act as display pieces at smaller demonstration centers across the world to advertise the Company’s path breaking technology. Furthermore, the Gen2 technology is currently under development and SunHydrogen is establishing a robust manufacturing network with companies such as Schmid Group in Germany and InRedox of Colorado, with development support from the University of Iowa.
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The Company entered into a partnership with SCHMID Group of Germany in February 2021 to design and develop a process platform for mass manufacturing its Gen 2 Nano Particle hydrogen panels. In addition, it will be working with InRedox, LLC, a Colorado-based company with expertise in developing electrochemically-assisted self-organized nanostructured materials, to develop the fabrication of the protective layers essential for GEN 2, which will be complimentary to its other partner efforts.
Dr. Joun Lee, Technology Director for SunHydrogen, Inc, commented,
“InRedox has the expertise and insight via their decades of experiences in scaling up the electrochemical anodization process to both support and expedite the development process for SunHydrogen. We are focused on improving the efficiency and reducing cost across each step of the development process and ultimately supply chain. This partnership is yet another key initiative for strengthening our commercial viability”.
In 2019, the Company demonstrated 1000 hours of continuous hydrogen production utilizing Gen 1 cell technology and based on the learnings is developing the Gen 2 technology, which is likely to achieve three times the solar-to-hydrogen efficiency, which could be a potential game changer for the industry.
SunHydrogen, Inc. (OTCPK: HYSR)
Market Cap: $ 244.75M; Current Share Price: 0.081 USD
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Industry
Renewable Energy is derived from naturally replenishing sources such as Hydropower, Geothermal, Solar and Wind Energy. According to the U.S Energy Information Administration, In the year 2019, renewable energy provided 11.5 quadrillion British thermal units (Btu) or 11.4% of total U.S. energy consumption, out of which, 56% was contributed by the electric power sector and 17 percent was from renewable energy sources.
The greatest advantage of renewable energy is their ability to reduce greenhouse gas emissions, by lowering fossil fuel consumption, the largest cause of carbon dioxide emissions. The renewable energy sector has now come under a sharp focus owing to Joe Biden’s administration’s plan to fight climate change with greater emphasis on clean energy and a mission to reach net-zero emissions by 2050.
The government’s position on clean energy was made clear by its recommitting to the Paris Climate accord and its call for moving to clean energy by 2035. The new administration will invest close to $1.7 trillion over the next 10 years in its bid for a “Clean Energy revolution” that aims to establish the US as the clean energy superpower and transform the energy sector by providing economic impetus.
Hydrogen atoms contribute to almost 75 percent of the mass of the universe and are the most common chemical element. It forms a major part of the entire ecosystem on earth and in its pure form can be used for multiple applications. The increased awareness about environmentally friendly renewable energy is driving the rise in demand for green hydrogen that has minimal impact on the environment and is reliable.
According to a report by the International Energy Agency, Hydrogen use today is dominated by industrial uses such as oil refining, ammonia production, methanol production and steel production. In addition, there is huge potential for use in transport, buildings and construction and power generation. As per a report by markets and markets, the global hydrogen generation market is likely to reach USD 201 billion by 2025, growing at a CAGR of 9.2 percent, from USD 130 billion in 2020.
Company
The Company’s low cost photoelectrochemical process and solar hydrogen generators offer improvement over conventional electrolyzers, by being cost and energy efficient and delivering the lowest cost renewable hydrogen in the world.
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SunHydrogen is developing a proprietary nanoparticle technology which features autonomous nano-solar cells with catalysts that are capable of segregating oxygen and hydrogen from water. The technology enjoys patent protection in the U.S, Europe, Australia and China and has patent applications pending in other countries across the world.
According to the Company there are over 60 million metric tons of hydrogen generated every year and 80 percent of it used in refineries, ammonia production or metal processing. Fossil fuels / Natural gas are the primary sources of production, which undergo steam reforming that emits harmful carbon emissions. According to the Hydrogen Council, the demand for hydrogen will increase tenfold from 8EJ in 2015 to almost 80 EJ in 2050.
The Company believes that it can cater to the growing emergence of Fuel Cell Vehicles (FCV’s) in markets like California and Japan, that are leading the clean hydrogen revolution. At present, California is home to nearly 6,000 FCV’s on the road and intends to achieve a goal of over 1,000,000 FCV’s and 1000 stations by 2030. Japan on the other hand is aiming to power 30% of its homes by deploying 5.3 million home fuel cells by 2030. SunHydrogen intends to gain a strong foothold in this market by providing cost-efficient renewable hydrogen through an extensive distribution network.
SunHydrogen has been able to achieve a record of over 560 hours of hydrogen production using a fully immersed solar cell and is in the process of freezing the final design and finding a contract manufacturer to commence the building of its panels.
Key Takeaways
Renewable energy sources are in great demand owing to rising concerns about the environmental impact of fossil fuel sources. Although other forms of renewable energy solutions are gaining credence, clean hydrogen can be a potential game changer owing to its minimal environmental impact and competitive cost of production. Moreover, Hydrogen is abundantly present in the environment and is not limited by the challenges faced by alternative energy sources like solar or wind power generation.
SunHydrogen is still at a nascent stage, however the validation of its technology and the potential it can have on the industry can make the Company a true game changer for the industry.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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References
https://www.iea.org/reports/the-future-of-hydrogen
https://sunhydrogen.com/news/2021/4/27/sunhydrogen-completes-production-of-100-demonstration-units
https://sunhydrogen.com/news/2021/1/3/sunhydrogen-provides-end-of-year-corporate-update
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