|By Marketwired .||
|May 20, 2014 03:15 AM EDT||
SANTA BARBARA, CA -- (Marketwired) -- 05/20/14 -- HyperSolar, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and any source of water, commented today on the abundance of recent news and funding announcements positively supporting hydrogen fuel use and infrastructure.
The month of May has been an extremely newsworthy month for the hydrogen-fuel industry. On May 1st, the California Energy Commission announced its decision to award FirstElement Fuel $27.6 Million to support the company in developing a hydrogen fueling network which would enable California consumers to drive and fill up their fuel cell vehicles by fall of 2015. Overall, the California Energy Commission announced approximately $46.6 million in funding, which is intended to support the addition of 28 new hydrogen stations to the nine that already exist. With 17 more already under development, the state anticipates being over halfway to its goal of 100 hydrogen-fueling stations.
Additionally, on May 12, Toyota announced plans to allow its battery supply deal with Tesla to expire, where it will then focus on hydrogen fuel cell vehicles and technology. According to the New York Times, Toyota said its "focus this year would instead be on its four-door sedan powered by hydrogen fuel cells, which it plans to introduce in California next year. The automaker will also focus on developing hydrogen refueling stations to support fuel-cell technology."
"Now is a very exciting time for those in the hydrogen fuel community who have provided significant funding and time towards next generation technology," said Tim Young, CEO of HyperSolar. "These recent announcements show that both the private and public sectors fully grasp the market potential, and are committed to a cleaner, more efficient future. While the majority of these stations coming online in California will distribute hydrogen produced from natural gas, a fossil fuel, HyperSolar's technology provides a method of producing green hydrogen using an entirely renewable process. We believe that we can fulfill a substantial role within the hydrogen fuel infrastructure as we progress towards our goal of producing cost-effective renewable hydrogen at or near the point of distribution."
HyperSolar's technology is based upon the concept of developing a low-cost, submersible hydrogen production particle that can split water molecules using sunlight without any other external systems or resources -- acting as artificial photosynthesis. A video of an early proof-of-concept prototype can be viewed at http://hypersolar.com/application.php.
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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