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Sunday, November 27, 2022

Sunhydrogen Inc (OTCMKTS: HYSR) Steady Rise Upwards After Company Completes $10 Million Investment in TECO 2030 (More on GHS Agreement)

Sunhydrogen Inc (OTCMKTS: HYSR) has been moving steadily higher ever since the Company filed an 8k reporting entered into an agreement with GHS Investments, LLC under which the Company may sell up to an aggregate of $45,000,000 of common stock to GHS. HYSR investors have been looking for catalysts to turn the stock around since it recently reversed of $0.021 lows. HYSR has been floundering since its historic rise that started in the sub pennies in at the end of 2019 and culminated in HYSR hitting highs well over $0.30 per share in early 2021. Now there are some big things happening for the Company and investors are beginning to accumulate. 

Recently the Company invested $10M in TECO 2030 ASA traded on the Oslo stock Exchange in Norward and in the US under the ticker: TECFF, TECO 2030 is the developer of zero-emission technology for the maritime and heavy industry sectors. For the first 6 months of 2022 TECO reported $5.3 million in revenues. The Company has a strong balance sheet with $61 million in cash, $372 million in assets vs. $184 million in liabilities. TECO has stated its intention to list on us markets and there very may well be a lot more going on with HYSR then this initial $10 million investment, $7 million of which is in cash for 9.3% of TECO. 

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Sunhydrogen Inc., (OTC: HYSR) is developing a breakthrough, low-cost technology to make renewable hydrogen using sunlight and any source of water, including seawater and wastewater. The only byproduct of hydrogen fuel is pure water, unlike hydrocarbon fuels such as oil, coal and natural gas that release carbon dioxide and other contaminants into the atmosphere when used. 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.

Earlier this year HYSR provided a first look at the prototype design for its forthcoming nanoparticle-based green hydrogen technology. The design carefully integrates SunHydrogen’s proprietary catalysts, light absorber and membrane integration assembly. The panel housing is built from lightweight, stable, modular materials that are easily scalable for mass manufacturing. Additionally, the design allows for efficient use of sunlight to maximize hydrogen production during the day with minimal water consumption. The Company’s nanoparticle technology directly uses the electrical charges created by sunlight to generate hydrogen when the Sun is shining. However, when the Sun is not shining, this prototype is also able to power the catalyst and membrane integration assembly using renewable grid electricity from wind or hydropower sources. Once the prototype design is realized, the Company’s scientific team will begin evaluating its performance and individual design elements to ensure efficient hydrogen production and collection. 

HYSR continues moving toward the commercialization of its nanoparticle-based green hydrogen technology. SunHydrogen is currently at a critical developmental juncture with the goal of a production-quality prototype set for the end of 2022.  In a recent update the Company’s Chief Scientific Officer Dr. Syed Mubeen said: “Following the release of our prototype design, we would like to confirm to our shareholders and supporters that our scientific team is currently evaluating a physical, working model of the small-scale device you saw in rendered image format. We are preparing to demonstrate solar hydrogen production using this prototype, and we remain on track to do so in Q4 2022.” 

SunHydrogen is tarageting the global hydrogen market which continues to growing rapidly. Over 110 countries have set goals to achieve net-zero emissions by 2050, and as governments look to clean energy sources to help them meet their targets, hydrogen is emerging as a promising solution. It is estimated that nearly 25% of global energy will come from clean hydrogen alone by 2050 a tenfold increase from today, which could bring in a projected $2.5 trillion in annual revenues (Source: Bank of America Securities, New Energy Behind Green Hydrogen).  

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HYSROn November 15 HYSR announced it has invested $10M in TECO 2030 ASA (Oslo Stock Exchange: TECO, OTCQX: TECFF). the developer of zero-emission technology for the maritime and heavy industry sectors. TECO 2030 is currently accelerating the transition to renewable fuels by developing and building Europe’s first gigafactory of hydrogen PEM fuel cell stacks for medium to heavy-duty trucks and PEM fuel cell modules for maritime applications. 

Most recently, TECO 2030, Shell, and additional partners received €5 million in funding from Horizon Europe to realize the HyEkoTank, a hydrogen powered tanker that will look to lead the maritime shipping sector in achieving climate targets set by the European Union. TECO also recently announced a new collaboration with their longtime development partner AVL in which TECO 2030 will provide fuel cell stacks with energy capacities above 300kW for AVL’s HyTruck fuel cell system. 

SunHydrogen’s $10M total strategic investment is in two parts. The first is a $7M direct investment for shares equal to 9.3% of TECO 2030. The second is a $3M convertible note at 8% interest that will be convertible into 6.1 million shares at 5.08 Norwegian Krone per share. Following the investment, SunHydrogen shall designate a director to serve on TECO 2030’s board of directors. As part of the investment, the two parties agree to pursue a potential business combination and an up-listing onto a US stock exchange will be explored. 

HYSR CEO Tim Young said: “Over the past year, we have considered many companies in the hydrogen space for strategic investment. We believe TECO 2030’s fuel cell technology, designed with their development partner AVL, has shown incredible potential to become a key player in the fuel cell market. In addition to our commitment to developing our nanoparticle technology, SunHydrogen is in parallel committed to enabling the green hydrogen economy. Through our cooperation with TECO 2030, we believe our companies can make a significant impact in a fast-growing market that Goldman Sachs estimates to be worth $12 trillion by 2050.” 

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Currently trading at a $143 million market valuation HSYR OS is 4,393,682,998 and that number has continued to creep upwards. The Company has about $51 million in cash currently split up as $25.5 million in cash and $27.6 million in marketable securities vs. $27.8 million in liabilities. The stock is currently under accumulation as several catalysts take shape. As we said the Company recently invested $10M in TECO 2030 ASA is the developer of zero-emission technology for the maritime and heavy industry sectors. TECO is a big Company that has $372 million in assets and reported $5.3 million in revenues for the first 6 months of 2022. Word is they are looking for a listing on US markets and there is a lot more going on than the initial $10 million investment in HSYR. Microcapdaily first covered HYSR on July 29, 2020 when the stock was sub $0.01 just as it was taking off on its run to $0.34 highs in early 2021 and we will be updating on HSYR so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in HYSR either long or short and we have not been compensated for this article.

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