SunHydrogen

SunHydrogen, a public company trading over-the-counter on the OTCQB Market, is developing low-cost technology to produce clean hydrogen using nano-scale water electrolysis that integrates the electrolysis function directly into a solar cell, eliminating the need for traditional electrolyzers. The company expects to offer hydrogen at USD 2.5/kg. The company’s patented nanoparticle-based technology allows hydrogen production using sunlight and any water source including seawater and wastewater. The company claims that its technology can achieve 3x the solar-to-hydrogen efficiency, and is primarily targeting the renewable energy and hydrogen fuel cell vehicle industries.

In 2019, the company successfully demonstrated 1,000 hours of continuous hydrogen production using its technology. In April 2021, the company announced the completion of 100 demonstration units and plans to develop its technology at commercial scale in collaboration with partners. In September 2022 , SunHydrogen completed the first prototype design of its patented technology. 

Key customers and partnerships

To develop its technology on a commercial scale, SunHydrogen has partnered with Schmid Group, an industrial engineering company in Germany; InRedox, a nanomaterials development and research company in Colorado; the University of Iowa; and MSC Co. (South Korea). In October 2021, SunHydrogen entered into a research agreement with the University of Michigan to improve solar-to-hydrogen efficiency.

In June 2023, SunHydrogen announced the approval of Project NanoPEC, a three-year initiative to bring its technology to the demonstration plant scale and develop manufacturing technology to support automated production at the 1000 unit scale in Germany, in collaboration with six partners. The project received ~USD 3.1 million in funding from the German government’s 7th Energy Research Program.

In July 2023 , SunHydrogen partnered with COTEC (South Korea) to explore the development and optimization of industrial electroplating solutions for SunHydrogen’s semiconductor deposition and initiated the scale-up phase for the production of 1m² green hydrogen panels in February 2024.

Funding and financials

SunHydrogen did not generate any revenue and posted a net income of USD 90.0 million for the year ended June 2022. In November 2022, SunHydrogen made a NOK 100 million (USD 10 million) investment in TECO 2030 , a Norwegian hydrogen fuel cell developer, to increase its global footprint, particularly in the US. In the same month, SunHydrogen received USD 45 million from GHS Investments for the development of its patented nanoparticle-based technology.