NewHydrogen welcomes GM investment in green hydrogen

·4 min read

General Motors new commitment to green hydrogen is a big boost to the industry

SANTA CLARITA, Calif., Jan. 20, 2022 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTC:NEWH), a developer of a breakthrough green hydrogen generator that uses renewable energy to produce low-cost green hydrogen, today welcomed General Motors’ announcement expanding its investment in green hydrogen. This commitment by a major auto maker is a big boost to the green hydrogen industry, which is dedicated to emissions-cutting hydrogen generated with renewable power such as wind and solar energy.

General Motors announced plans Wednesday to expand its hydrogen fuel cell business beyond vehicles by supplying hydrogen-powered generators for uses including construction sites, music festivals, data centers and military operations. The wider application of hydrogen fuel cells will allow GM to leverage and scale existing hydrogen investments and refine the technology, GM executives said.

"Think of places where you don't have a permanent installation for power generation, but you need clean power sources," Charlie Freese, executive director of GM's Hydrotec business, said on a call with journalists, as reported by Reuters.

  • The hydrogen fuel-cell systems will be assembled by GM's joint venture with Honda in Brownstown, Michigan. Utah-based Renewable Innovations will build the generators, with production slated to start next year, GM executives said.

  • Freese said GM's goal was to increase the use of green hydrogen and was hopeful that costs would come down. He said the company was also looking to work with infrastructure providers to install more local hydrogen production systems and reduce the need for costly hydrogen transportation.

“GM’s clear commitment to green hydrogen couldn’t come at a better time,” said Spencer Hall, COO of NewHydrogen. “The push for green hydrogen is rapidly gaining momentum and commitments by big players, such as GM, Toyota and Honda will bring even more investment capital into the space. We agree with others in the industry that green hydrogen is a critical part of a sustainable energy future and one of the largest business opportunities of our time.”

NewHydrogen previously announced encouraging progress on its ongoing sponsored research at UCLA to lower the cost of green hydrogen by eliminating or drastically reducing the use of precious metals in 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 committed to the development of breakthrough technologies to enable the next generation of low cost electrolyzers. Our initial focus has been on replacing and reducing the expensive rare earth materials, which represent a significant cost factor. We have widened our focus to develop other breakthrough electrolyzer technologies 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

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. 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.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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


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