|By Marketwired .||
|March 4, 2014 03:19 AM EST||
SANTA BARBARA, CA -- (Marketwired) -- 03/04/14 -- HyperSolar, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and any source of water, today commented that it is strongly encouraged by recent commitments of Fortune 500 companies to use hydrogen fuel cells for a number of applications.
Last week, Walmart, the world's biggest retailer announced it had ordered an additional 1,738 GenDrive cells from Plug Power to be used in lift trucks at their six North American distribution centers. (http://onforb.es/1evJK2k)
In January of this year, both Sprint and FedEx announced they were increasing their use of fuel cell technology. Sprint said it would begin deploying hydrogen fuel cell technology as backup power to rooftop network sites replacing diesel generators. (http://bit.ly/1fwaknu) FedEx placed an order with Plug Power for Fuel Cell Extenders to increase the range of their fleet of electric delivery trucks. (http://bit.ly/1kymv86)
Tim Young, CEO of HyperSolar, commented, "With our commitment to develop a method for onsite renewable hydrogen production, we are encouraged by the growing demand for hydrogen production infrastructure. Toyota, Hyundai, and Honda have led the way with recent announcements about new fuel cell cars. Many big companies, including Walmart, are now using fuel cells to power warehouse lift trucks. We believe that Sprint's commitment to deploy fuel cells as a source of backup power is just the very small tip of the very large iceberg for this type of application."
"The missing link for commercial success is an economical source of renewable hydrogen," continued Mr. Young. "Today the feedstock to produce hydrogen for all these commercial applications is natural gas. While natural gas is plentiful, the supply is not infinite and it certainly isn't renewable. Also, there is a distribution problem that must be solved. At HyperSolar, our goal is to use our proprietary technology to produce renewable hydrogen at or near the point of distribution or deployment."
HyperSolar's research is centered on developing a low-cost and submersible hydrogen production particle that can split water molecules under the sun, emulating the core functions of photosynthesis. Each particle is a complete hydrogen generator that contains a novel high voltage solar cell bonded to chemical catalysts by a proprietary encapsulation coating. A video of an early proof-of-concept prototype can be viewed at http://hypersolar.com/application.php. HyperSolar recently extended its sponsored research agreement with UCSB to further the development.
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 http://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: 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.
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