NewHydrogen Inc. (OTCMKTS:NEWH) was up 18% after the green hydrogen generator developer offered an update on the progress of the catalysts tech seeking to minimize the costs of green hydrogen production.
Trading Data
On Wednesday, NEWH stock surged 18.42% to $0.0225 with 5.27 million shares, compared to its average volume of 1.97 million shares. The stock moved within a range of $0.0202 – 0.0240 after opening trade at $0.0237.
NewHydrogen’s breakthrough single-atom catalyst shows better performance than platinum in lab studies
The recent results of the NewHydrogen’s sponsored study at UCLA demonstrate considerable progress towards generating low-cost green hydrogen by drastically reducing or replacing precious metals used in electrolyzers. It is vital to note that electrolyzers are at the centre of green hydrogen generators, and they currently depend on rare, expensive materials like iridium and platinum. NewHydrogen focuses on the development of better and cheaper electrolyzercatalysts.
CEO David Lee said that the high durability and superior catalytic ability of their hydrogen evolution reactions (HER) over platinum-based HER catalysts makes their catalyst the ideal platinum replacement on alkaline hydrogen electrolyzers and in anion exchange membrane electrolyzers. He added that the company’s HER catalyst component is less expensive than platinum and performs better. So in the coming weeks, investors should watch NEWH.
Key Quote
“The high durability over prolonged usage as well as its superior catalytic ability over the commercial platinum-based HER catalysts makes our catalyst an ideal drop-in replacement for platinum in alkaline hydrogen electrolyzers, and more importantly, in the anion exchange membrane (AEM) electrolyzers in the future. Not only is our HER catalyst raw material less expensive than platinum, our single-atom catalyst performs better than platinum,” said Dr. David Lee, CEO of NewHydrogen.
Technical Data
NEWH stock is above the 20-Day and 200-Day Moving averages of $0.0216 and $0.0221 respectively. However, the stock is trading below the 50-Day moving average of $0.0232.
