NewHydrogen highlights opportunities with hydrogen hubs by lowering the cost of green hydrogen

Santa Clarita, California, UNITED STATES


NewHydrogen COO emphasizes media report on the hydrogen hub involving Colorado, New Mexico, Utah, and Wyoming

SANTA CLARITA, Calif., July 26, 2022 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTC:NEWH), a developer of a green hydrogen generator, today emphasized the importance of its development of electrolyzer catalyst materials which could significantly lower the cost of producing green hydrogen in light of the recent media report on the green hydrogen projects in Utah that will provide clean power to the Los Angeles Area.

The Associated Press last week featured the important green hydrogen project in Utah that will provide clean power to the Los Angeles area. As the U.S. Department of Energy continues to invest heavily in green hydrogen, the states of Colorado, New Mexico, Utah, and Wyoming are working together as the Western Inter-States Hydrogen Hub in response to the DOE request for information (RFI) on the Regional Clean Hydrogen Hubs Implementation Strategy.

The regional hub developments were the subject of several presentations by representatives from the public and private sector at the recent H2 View North America Hydrogen Summit. James Kenney, Cabinet Secretary of the New Mexico Environment Department detailed the multi-state group plans to become a hydrogen hub. Kenney told the summit, “We have MoU’s with our national labs, taking a deep dive look at carbon intensity, and that lifecycle analysis is the green model, to determine how we institute two kilograms of carbon dioxide for every kilogram of hydrogen produced goal.”

The summit also included presentations from emerging hubs in New York, Texas, and California. At the conclusion of the summit. Spencer Hall, COO of NewHydrogen said, “We see a real opportunity for NewHydrogen to make a significant contribution toward the goal of lowering the cost of producing green hydrogen by drastically reducing the use of expensive rare materials in electrolyzers, accelerating the timeline for large-scale applications such as the green hydrogen projects in Utah.”

The goal of NewHydrogen’s sponsored research at the University of California Los Angeles (UCLA) is to lower the cost of green hydrogen by eliminating or drastically reducing the use of precious metals in electrolyzers. Electrolyzers currently rely on rare materials such as iridium and platinum. These materials often account for a substantial portion of the cost of electrolyzers.

About NewHydrogen, Inc.

NewHydrogen is developing a breakthrough green hydrogen generator that uses renewable energy to produce low-cost green hydrogen. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. Unfortunately, hydrogen does not exist in its pure form on Earth so it must be extracted from a source that contains hydrogen. For centuries, scientists have known how to split water into hydrogen and oxygen using a simple and elegant device called an electrolyzer. Unfortunately, an electrolyzer – the primary component of a hydrogen generator – is still very expensive. NewHydrogen is developing breakthrough technologies to enable the next generation of low cost electrolyzers. The Company’s initial focus is on replacing and reducing expensive rare earth materials, to help usher in the green hydrogen economy that Goldman Sachs estimated to have a future market value of $12 trillion.

To learn more about the company, please visit www.newhydrogen.com.

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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. 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: the impact of economic, competitive and other factors affecting the Company and its operations, markets, the impact on the national and local economies resulting from terrorist actions, the impact of public health epidemics on the global economy and other factors detailed in reports filed by the Company with the United States Securities and Exchange Commission.

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Investor Relations Contact:
Tom Becker
NewHydrogen, Inc.
ir@newhydrogen.com
(877) 904-3733