HyperSolar Comments on Japan's Commitment to Hydrogen Fuel for Residential Use
Emboldened by Support From Major Manufacturers, Japan Sets Goal of 5.3 Million Residential Hydrogen Installations by 2030
SANTA BARBARA, CA--(Marketwired - February 03, 2015) - HyperSolar, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today commented on Japan's recent announcements pertaining to its dedication to residential hydrogen fuel implementation, seeking to add 5.3 million units, or 10% of all Japanese households, by 2030.
Backed by major Japanese manufacturers, including Panasonic, Corp., Japan is aggressively pursuing a model that would provide hydrogen-powered home fuel cells. This action follows a recent speech from Japanese Prime Minister, Shinzo Abe, who stated, "Hydrogen is the energy of the future. We've deregulated rules involving various ministries that used to hinder hydrogen development. The hydrogen society used to be a dream, and now it is about to become reality."
The current focus is centered upon reducing costs to make the residential systems more affordable for mass consumption. South Korean steelmaker, Posco, which owns the largest stake in US-based FuelCell Energy, has licensed the Company's technology to develop systems for the Asian market. Companies including Plug Power have been commended for their smaller fuel cell models, such as the fuel cell systems being used to power forklifts for major retailers such as Ace Hardware and Walmart.
HyperSolar has identified the need to reduce costs in pursuit of mass adoption as a significant market opportunity. The Company is developing a completely renewable technology that can be implemented at or near the point of distribution for both large-scale commercial systems, as well as residential units, by reducing costs through eliminating expensive steps in the process and reducing the need for transportation.
"Hydrogen fuel use for commercial and automotive consumption is well chronicled, leaving residential energy use as a relatively untapped market in terms of potential," said Tim Young, CEO of HyperSolar. "As our research and development teams at University of California, Santa Barbara, and the University of Iowa pursue commercialization, we believe that our technology will one day meet this need. Japan has continued to pioneer within the hydrogen fuel space, while overall global commitment in terms of hydrogen technology development and funding grows by the day. We are excited to be a part of this burgeoning industry as we seek new market opportunities created by these innovations, as well as others."
HyperSolar's technology is based on the concept of developing a low-cost, submersible hydrogen production particle that can split water molecules using sunlight without any other external systems or resources -- acting as artificial photosynthesis. A video of an early proof-of-concept prototype can be viewed at http://hypersolar.com/application.php.
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: 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.
Press Contact:
Eric Fischgrund
FischTank Marketing and PR
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