SunHydrogen Inc (OTCMKTS:HYSR) is a company that came up with an innovative piece of tech that uses water and sunlight to create renewable hydrogen. It recently announced that it was extending the sponsored research agreement it has with the University of Iowa.
The renewed commitment with the university will allow SunHydrogen to continue with its work of trying to develop its green nanoparticle-based hydrogen tech and manufacture it on a commercial scale. The university’s research team, which has been the company’s developmental partner for quite some time now, has worked hard to optimize and lead the scaling up of this nanoparticle technology over the past couple of years.
Most recently, the team at the university has collaborated with the SCHMID Group in Germany, another one of SunHydrogen’s developmental partners, to create the equipment and processes for manufacturing. Tim Young, SunHydrogen’s Chief Executive Officer, will visit the facility in Germany to evaluate the progress that’s been made as well as meet with the developmental team on the ground.
Market Reaction:
On Wednesday, HYSR stock decreased 0.57% at $0.0510 with more than 9.59 million shares, compared to its average volume of 13.36 million shares. The stock has moved within a range of $0.0508 – 0.0540 after opening the trade at $0.0510.
