HyperSolar Changes Company Name to SunHydrogen
The name change more accurately reflects the Company’s mission to produce renewal hydrogen using sunlight and water
SANTA BARBARA, CA, June 15, 2020 (GLOBE NEWSWIRE) -- HyperSolar, Inc. (HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced it is has changed the name of the Company to SunHydrogen, Inc., but will retain the same stock ticker symbol.
The Company has notified FINRA of the name change and has been informed by FINRA that they are reviewing the notification. The Company anticipates that the name change will be effective in the market upon FINRA’s completion of this review in the near future.
“For some time now, we considered adopting the SunHydrogen name,” said Tim Young, CEO of HyperSolar. “Now, as we enter production of Gen 1 and channel more development resources into Gen 2, we wanted our name change to coincide with our next phase of business.”
Chief Technology Officer, Dr. Joun Lee, said, “For our team, this is a very exciting time. The name, SunHydrogen, is far more representative of what we are working for—producing renewable hydrogen from sunlight and water. As we see the years of development coming to fruition, we will leave the HyperSolar name behind along with the technology groundwork as part of what has gotten us to where we are. Now with our new name, we will take on emerging and, hopefully, world-shaking, challenges.”
As mentioned in a previous news release, the team is beginning the manufacture of Gen 1 panels. Also, the Company will begin to funnel greater resources into the development of Gen 2, a nanotechnology solution to hydrogen production that management believes can completely change the economics of hydrogen production and thus the global energy playing field.
Mr. Young concluded, “Hydrogen is taking a place on centerstage in the world. Phoenix-based Hydrogen truck-producer, Nikola, Inc., went public in a reverse merger, raised $700MM, and introduced other developments that put a further exclamation point on continued increasing global interest in hydrogen-related activity. Developments like this reinforce our belief in our technology and make us even more passionate about making low cost renewable hydrogen an essential fuel of the future.”
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.
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: our ability to successfully negotiate agreements with suppliers and manufacturers of its hydrogen generation panels, our ability to procure project financing, our ability to retain the service of a qualified engineering firm to design and build a pilot plant, our ability to secure an agreement to with a partner with us for the pilot plant, 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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