Companies Agree to Work Together to Advance Commercialization and Business Development for Gen 1 and Future Gen 2 Technologies
SANTA BARBARA, CA –– HyperSolar, Inc. (OTC: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced that it has entered into a Memorandum of Understanding (“MOU”) with Cascadia Energy Technologies, of Corvallis, Oregon. The agreement establishes a collaborative association to advance the interests of each company. The work together will focus on prospective renewable energy projects, and most importantly for HyperSolar, on-going business development.
Management anticipates that Cascadia will also be able to identify multiple sites for Gen 1 demonstration units.
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“Our collaboration with Cascadia is meant to be a long-term association,” said Tim Young, CEO of HyperSolar. “We share common values and objectives in the production of green energy, with a specific focus on green hydrogen. In the short term, Cascadia will help us find sites for our pilot plants. And in the longer term, we believe that their team will be of great help in proliferating our technologies. Their contacts and outside relationships will bolster the commercial side of our business.”
John Gentile, President of Cascadia, said, “We are excited about the opportunity of working with HyperSolar and helping to promote what we believe will be a game-changing technology in the world of truly green energy. With our commercial connections, we can help HYSR get to revenue more quickly than may otherwise be possible.”
Cascadia’s mission is the production of 100% clean, renewable fuel and energy from local and regional resources to accelerate Zero Emission Heavy Vehicle (ZEV-Heavy) mobility. Trucks, Buses, Trains, and port facilities. Ultimately, to support Local Fuels ‘eco-systems’ securing the economic benefits of our society within a safe, community-based transitions to a 100% clean, renewable energy future.
The MOU contains an agreement of confidentiality that governs the sharing of information and protects trade secrets of each organization.
For more information on Cascadia, see https://cascadiaenergytechnologies.com/
Mr. Young concluded, “With the impending production of working panels of Gen 1 technology, we approach the point at which we are very interested in connecting with organizations who will be in need of our technology for their distributed hydrogen requirements. We believe that our association with Cascadia will help accelerate that process.”
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 www.hypersolar.com.
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