Newhydrogen Inc (OTCMKTS:NEWH) Stock In Limelight As Company Releases Key Progresses

Newhydrogen Inc (OTCMKTS:NEWH) stock has been showing a volatile move over the past few weeks amid higher volatility in the broader markets. The stock could be in the limelight after the company COO highlighted Newhydrogen’s technological and corporate milestones, and outlined next steps

Trading Data     

On Wednesday, NEWH stock moved up 0.59% to $0.0170 with more than 1.07 million shares, compared to its average volume of 992K shares. The stock moved within a range of $0.0170 – 0.0180 after opening trading at $0.0180.

About The Company

NewHydrogen is developing a green hydrogen generator that harnesses renewable energy for producing low-cost green hydrogen. One of the abundant fuels in the universe, Hydrogen is zero-emission and only produces water vapor. It must be extracted from a source containing hydrogen. Scientists have been aware of how to split water into oxygen and hydrogen using an electrolyzer, which is still very expensive.

This is why NewHydrogen is developing technologies, with the focus on replacing and reducing expensive rare earth materials. Goldman Sachs estimates that there is a future market value of $12 trillion.

NewHydrogen continues to progress toward lowering the cost of green hydrogen

NewHydrogen on July 6, 2022, gave an update highlighting corporate milestones as well as the next steps for establishing longer-term commercial viability.

Spencer Hall, NewHydrogen’s COO said that the company has made much progress towards the goal of developing technologies resulting in lowering the cost of producing green hydrogen. Hall added that this would accelerate the timeline for large-scale applications in high-growth markets.

The company’s sponsored research at the University of California Los Angeles will be to reduce the cost of green hydrogen through elimination or drastically cutting the use of precious metals in electrolyzers. Currently, Electrolysers rely on rare materials like platinum and iridium. The materials account for a significant part of the cost.

NewHydrogen has achieved a number of milestones since the start of the green hydrogen technology program in December 2020.

Sponsored Research Agreement

The company entered into a sponsored research agreement with UCLA for developing stable earth-abundant material-based catalysts for hydrogen production. The scope was expanded for including hydrogen evolution reaction catalysts as well as oxygen evolution reaction catalysts. New Hydrogen has also developed an OER catalyst, with many improvements for PEM electrolysers.

New Hydrogen has developed HER catalyst using order of magnitude less platinum for alkaline electrolysers. The company also developed an HER catalyst, which does not use any anion exchange membrane or platinum electrolysers. This single-atom catalyst has demonstrated lower overpotential with higher mass activity.

Furthermore, the company also implemented a manufacturing supply agreement with a Massachusetts-based manufacturer of state-of-the-art green hydrogen generation systems, Verde, LLC. This will enable it to deploy green hydrogen generators towards intermittent renewable power sites.

Key Objectives

The company has a number of key objectives which it is looking to achieve. New Hydrogen is looking to ameliorate the stability of non-precious metal-based OER catalysts at high current density. It will also look to improve the stability of HER catalyst, which uses an order of magnitude less platinum. The company is also aiming to incorporate HER/OER catalysts into the prototype electrolyser, which will serve as a reference prototype for demonstrating catalyst technology to manufacture low-cost green hydrogen. Lastly, the company will continue to foster partnerships as well as actively participate in green hydrogen industry consortium activities.

Hall said that the company is optimistic on bringing NewHydrogen technologies to market in the coming years.

Key Quote

“NewHydrogen has made significant progress towards its goal of developing technologies that lower the cost of producing green hydrogen, accelerating the timeline for large-scale applications in high-growth markets,” said Spencer Hall, NewHydrogen’s COO.

Technical Data

NEWH stock is trading below the 20-Day and 50-Day Moving averages of $0.0176 and $0.0186 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0220. The company has a total market capitalization of 12.155 million with 715.50 million outstanding shares. Moreover, the company has 99.33% or 710.73 million floating shares. The stock is down 24% over the past 3-month. The company has a price-to-book value of 4.37.