Sunhydrogen Inc (OTCMKTS:HYSR) extends its sponsored research agreement with the University of Iowa for the next 12 months. The former is working on cutting-edge technology to generate renewable hydrogen with sunlight and water. This renewal ensures they can continue developing its nanoparticle-based green hydrogen technology on a commercial scale.
On the other hand, the University of Iowa has a dedicated research team who has invested years in fine-tuning techniques on scaling up SunHydrogen’s nanoparticle technology. They have worked closely with SCHMID Group in Freudenstadt, Germany (the company’s development partner) to enhance process and equipment for manufacturing. SunHydrogen CEO Tim Young is scheduled to visit Germany to talk to the development team and assess progress.
Young has high hopes due to the extension of the sponsored research agreement for another year. He assures the collaboration of University of Iowa and SCHMID will go a long way in driving their technology to commercialization. As of now, SunHydrogen Director of Technology Dr. Joun Lee and University of Iowa Professor and SunHydrogen Lead Scientist Dr. Syed Mubeen, will lead the research at the university.
Investors can certainly look forward to getting more updates regarding operations at the SCHMID facility in the coming weeks, after Young returns.
On Wednesday, HYSR stock jumped 3% at $0.0520 with more than 8.72 million shares, compared to its average volume of 13.06 million shares. The stock has moved within a range of $0.0502 – 0.0550 after opening the trade at $0.0505.