NewHydrogen CEO Steve Hill Provides ThermoLoop Update

The Company’s novel low-cost thermochemical process uses heat to split water allowing for large-scale, low-cost clean hydrogen production to meet the needs of an energy hungry world

SANTA CLARITA, Calif., March 05, 2024 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTCMKTS:NEWH), provided an update on its breakthrough ThermoLoop technology, which uses water and heat instead of electricity to produce the world’s cheapest green hydrogen. The company shared progress on its collaboration with the University of California Santa Barbara (UCSB) in developing the ThermoLoop technology.

“The demand for power is insatiable,” remarked Steve Hill, CEO of NewHydrogen. “According to McKinsey & Company, global electricity demand is poised to surge, projected to more than double from 25,000 terawatt-hours (TWh) in 2022 to between 52,000 and 71,000 TWh by 2050.This surge is attributed to the burgeoning energy requirements emerging markets and the widespread electrification across various sectors of the economy. To put it in perspective, a terawatt-hour (TWh) represents one trillion-watt hours. Consequently, the future need for 52 to 71 trillion-watt hours is almost unimaginable.”

The acceleration towards electric vehicles is a significant driver of this escalating electricity demand. Yet, just a year ago, few of us anticipated the energy needs of AI.

Recently, OpenAI's CEO Sam Altman said an energy breakthrough is necessary for future artificial intelligence, which will consume vastly more power than people have expected. "There's no way to get there without a breakthrough," Altman said.

“Green hydrogen can be the breakthrough,” Mr. Hill continued. “Our feedstock is water, which covers about 70% of the Earth. We use heat rather than expensive electricity to split the water to produce the world’s cheapest green hydrogen, which can be used to produce cheap electricity. However, big is much better than small. Our process can scale and make a meaningful difference in meeting the power demands of the future.”

Working with a world class research team at UC Santa Barbara, NewHydrogen is developing ThermoLoop, a novel thermochemical process capable of water splitting without relying on costly electricity or expensive electrolyzers. Instead, it leverages relatively low-cost heat. Notably, unlike electrolysis, the process costs decrease with increasing unit size – allowing the potential for large-scale clean hydrogen production.