SANTA BARBARA, CA — SunHydrogen, Inc. (OTC: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today shared that it has accepted a $45 million investment commitment from GHS Investments, LLC, of Jericho, New York.
The proceeds will be used in part to further the development of SunHydrogen’s nanoparticle-based green hydrogen technology, and in parallel to enable the Company to invest in and co-develop other complementary technologies across the renewable hydrogen value chain.
The Company remains committed to developing its nanoparticle technology to commercialization, with its most immediate internal goal being the successful demonstration of a first-ever, production-quality prototype.
However, with the addition of the $45M capital commitment, SunHydrogen also looks to realize its goal of furthering renewable hydrogen technology to grow the hydrogen ecosystem. Specifically, SunHydrogen seeks to make strategic investments by partnering with other early-stage companies to enable and assist them in reaching their own manufacturing stages.
“This investment commitment from GHS ushers in a new era of SunHydrogen as a technology company for the green hydrogen economy,” said SunHydrogen’s CEO Tim Young.
“Our mission to develop, acquire and partner with other critical technologies brings significant value to our investor base,” Mr. Young continued. “Our cooperation with TECO 2030 is a prime example of this.”
For further information regarding the terms and conditions of GHS’s investment commitment, see the Company’s 8-K filed with the Securities and Exchange Commission on November 22, 2022.
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About SunHydrogen, Inc.
SunHydrogen is developing breakthrough technologies to make, store and use green hydrogen in a market that Goldman Sachs estimates to be worth $12 trillion by 2050. Our patented SunHydrogen Panel technology, currently in development, uses sunlight and any source of water to produce low-cost green hydrogen. Similar to solar panels that produce electricity, our SunHydrogen Panels will produce green hydrogen. Our vision is to become a major technology supplier in the new hydrogen economy. By developing, acquiring and partnering with other critical technologies, we intend to enable a future of emission-free vehicles, ships, data centers, aircrafts and more. To learn more about SunHydrogen, please visit our website at www.SunHydrogen.com.