SANTA BARBARA, CA – February 17, 2021
SunHydrogen, Inc. (OTC:HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today announced an agreement with SCHMID Group of Germany to design and define a process platform that enables mass manufacturing of SunHydrogen’s Gen 2 NanoParticle hydrogen panels.
Founded in 1864, SCHMID Group employs over 700 professionals working across production sites in Germany, China, Korea, Turkey and the United States. The company is known for its work in industries spanning electronics, photovoltaics, semiconductor and notably, energy systems. With an established track record for developing and commercializing processes used in these varied industrial sectors, SCHMID Group builds machines and automation systems that are perfectly-tailored to customer requirements. Focused on a sustainable, carbon-free future, SCHMID Group takes advantage of its numerous synergies stemming from its existing energy experience to develop new solutions for cost-efficient industrial mass manufacturing.
Following execution of the agreement with SunHydrogen, SCHMID Group will provide a concept for customized manufacturing equipment to manufacture in large-scale, along with a good faith offer (which will include a cost estimate and other relevant details) pertaining to the utilization of the process on Schmid equipment. The delivery of the concept is expected within the calendar year 2021.
“We are very excited for this milestone partnership towards achieving a green future, and more specifically to work with SunHydrogen’s Gen 2 NanoParticle hydrogen generator, a technology capable of opening the door to commodity hydrogen production at the lowest possible costs,” said Christian Schmid, CEO of the SCHMID Group. “Relying upon our experience in PV and compound system manufacturing coupled with our ability to achieve industrial scale, we seek to demonstrate the efficacy of this innovative product very quickly and look forward to seeing the renewable hydrogen sector continue to thrive.”
The collaboration is comprised of three key stages: design, evaluation, process evaluation and engineering. Upon its completion, the two parties’ mutual goal is to generate the base for a solid cost estimate, as well as a timeline for building up an industrial scale prototype production with a defined substrate, size, process sequence and throughput requirements.
“We are excited to work with a company of SCHMID Group’s caliber and reputation, and believe that Schmid’s strength and innovations in electronics, photovoltaics, and energy systems will further demonstrate the progress and promise of our technology, especially the Gen 2 program,” said Tim Young, CEO of SunHydrogen, Inc. “One of the key aspects of this partnership is the collaboration between the two companies, including our team at the University of Iowa which has been so crucial in helping us get to this point. We are also appreciative of the strength of our investor base, which has enabled us to more rapidly pursue partnerships with international leaders like SCHMID Group.”
“One of our core competences is the ability to transfer lab processes to industrial scale, establishing technologies beyond just proof-of-concept by showcasing market viability,” said Mr. Schmid. “Each component of the SunHydrogen Gen 2 device strongly aligns with our existing expertise and know-how, and we only have to put it all together to bring a great new product to the market. We are very thankful that SunHydrogen has selected us as a partner, providing us with an important opportunity to contribute again with solutions for a green future.”
About SunHydrogen, Inc.
SunHydrogen 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, ultimately producing 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 SunHydrogen, please visit our website at www.SunHydrogen.com.
About SCHMID Group
SCHMID Group a technology company that specializes in the production of machine equipments custom-tailored to specific requirements. Vast experience in research and engineering is the key driver propelling new and innovative technologies to mass production. The group focuses on developing customized equipment and process solutions for multiple industries including electronics, renewables and energy Storage.
In more than 155 years of company history, SCHMID Group has established itself as a technology leader in the market with sound knowledge in numerous processes. Based on comprehensive and versatile technological expertise, the company offers customers future-oriented system and automation solutions that are perfectly adapted to their production requirements.
The group of companies with its headquarters in Freudenstadt, Germany employs more than 700 staff members worldwide, with manufacturing sites in Germany, China, Turkey and the USA as well as sales and service locations worldwide.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements. 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. 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 our hydrogen generation panels. the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.