Business
HyperSolar Extends Research Agreement with University of California, Santa Barbara as Demand for Clean Hydrogen Grows
HyperSolar Extends Research Agreement with University of California, Santa Barbara as Demand for Clean Hydrogen Grows.
About this update from Sunhydrogen Inc.
[{"type":"text","content":"\nSANTA BARBARA, Calif., June 13, 2017 (GLOBE NEWSWIRE) -- HyperSolar, Inc. (OTCQB:HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and any source of water, today announced it has extended its sponsored research agreement with the University of California, the first university the Company partnered with when it embarked on its quest to produce completely renewable, cost-efficient hydrogen.\nThe extended agreement with the University of California Santa Barbara (UCSB) will maintain the relationship through June 30, 2018. The agreement comes during a crucial time for the Company, as alongside the University of Iowa, UCSB is tasked with scaling HyperSolar’s renewable hydrogen production process, including the advancement of a commercial prototype using readily available amorphous silicon solar cells, as well as developing a patented nanoparticle technology that will produce economically viable “green” hydrogen.  As HyperSolar technology continues to develop in its quest to increase efficiency while reducing cost, the market for hydrogen, especially that produced by completely renewable processes, continues its rise in demand. This demand at the consumer level is driven by the influx of fuel cell vehicles (FCVs) hitting the market from major automotive manufacturers including Toyota and Hyundai, as well as innovative startups such as Nikola Motor Co. who plans to release hydrogen-fuel cell electric semi-trucks. However, infrastructure remains an existing barrier to mass FCV adoption, which has historically struggled to meet innovation and the current growing demand. HyperSolar believes its technology represents a solution to this challenge by producing completely renewable hydrogen demand at or near the point of distribution, such as a fueling station.“We have stressed the importance of maintaining a strong relationship with the scientific teams that have led and supported the growth of HyperSolar technology,” said Tim Young, CEO of HyperSolar. “This agreement with the University of California maintains the continuity of our core scientific group, one that we anticipate leading us to eventual commercialization. Now more than ever, our focus is on demonstrating capabilities in real world environments, and reaching our potential to meet the rap...