Sunhydrogen Inc (OTCMKTS: HYSR) is heating up and moving up steadily since a brief test of the $0.05 level. The stock has been on fire in recent weeks running as high as $0.1249 which is currently the price to beat and confirmation of the next leg up. The Company is raising $9 million via a direct offering with the proceeds intended for the continued advancement of Sunhydrogen’s breakthrough nanoparticle hydrogen generation technology.
The demand for Hydrogen continues to increase at a rapid rate with the current global fuel cell market estimated to be worth $170 billion. Large oil Companies such as BP are also ramping up their hydrogen investments. Currently Hydrogen supplies less than 5% of the World’s energy but some estimates suggest if may represent up to 25% of the Worlds energy by 2050 representing a $2.5 trillion market opportunity.
Sunhydrogen Inc (OTCMKTS: HYSR) 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. The Company owns numerous patents both in the US and EU protecting their technology.
It was late last year when Sunhydrogen reported the stability test of its proprietary fully integrated hydrogen production device has surpassed 1000 hours. The device will serve as the foundation of the Company’s first-generation commercial renewable hydrogen generator. The Company has focused on increasing the stability of the proprietary all-in-one hydrogen production device, working toward the 1000-hour target, since 2018. The stability test was conducted under continuous simulated peak sunlight illumination by the research team at the University of Iowa. The Company is now building a pilot production plant to commercially produce Gen 1, from water and waste to Fuel. It could start as early as late spring of 2020 according to HyperSolars latest presentation! Hydrogen is quickly gaining traction as a greener option of fuel for the future.
The Company entered into a securities purchase agreement with a single institutional investor to purchase 120,000,000 shares of its common stock and short-term warrants to purchase an aggregate of up to 120,000,000 shares of common stock, in a registered direct offering. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock is $0.075. The warrants have an exercise price of $0.075 per share, will be immediately exercisable and will expire 30 months from the issue date. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
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The gross proceeds from the registered direct offering are expected to be $9.0 million. The Company intends to use the net proceeds primarily to accelerate the development of its breakthrough nanoparticle hydrogen generation technology, as well as for working capital and general corporate purposes. The registered direct offering is expected to close on or about December 3, 2020, subject to the satisfaction of customary closing conditions.
On December 3 HYSR announced it has retained New York City-based FischTank PR, a leading sustainability and cleantech PR firm, to drive communications efforts as the Company continues to advance its nanoparticle technology for generation of economical green hydrogen. Through its relationship with FischTank PR, SunHydrogen will activate its Twitter and Facebook pages, utilizing both to serve as resources for renewable hydrogen and broader renewable energy news and information, as well as for sharing corporate announcements and materials. The Company also plans to increase shareholder communications via press release and newsletter distribution, highlighting technological milestones, commercialization efforts and other corporate progress.
FischTank PR was founded in 2013 and is led by CEO Eric Fischgrund and President Matt Bretzius. The firm works with clients commercializing technologies in renewable energy and cleantech sectors spanning energy storage, solar, battery design, green building, agtech and more. The firm’s clients are comprised of private and public companies, the latter of which possesses market caps ranging from small to Fortune 100.
HYSR CEO Tim Young stated: “As our visibility within the capital markets and energy sector continue to grow, we understand the importance of increased and effective corporate communications. I look forward to working directly with FischTank PR, a firm deeply entrenched in the sustainability and cleantech sector that also understands the importance of transparent, informative communication with security holders.”
— Dorian (@Dorian93880855) December 6, 2020
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HYSR is heating up and moving up steadily since a brief test of the $0.05 level. The stock has been on fire in recent weeks running as high as $0.1249 which is currently the price to beat and confirmation of the next leg up. The Company is raising $9 million via a direct offering with the proceeds intended for the continued advancement of its breakthrough nanoparticle hydrogen generation technology. The demand for Hydrogen continues to increase at a rapid rate with the current global fuel cell market estimated to be worth $170 billion. Large oil Companies such as BP are also ramping up their hydrogen investments. Currently Hydrogen supplies less than 5% of the World’s energy but some estimates suggest if may represent up to 25% of the Worlds energy by 2050 representing a $2.5 trillion market opportunity. We will be updating on HYSR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HYSR.
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Disclosure: we hold no position in HYSR either long or short and we have not been compensated for this article.