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NewHydrogen expands green hydrogen technology research program at UCLA

Tue 2nd March, 2021 8:30am
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SANTA CLARITA, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- NewHydrogen, Inc., a
BioSolar company (OTC:BSRC), today announced that it has executed an agreement
to expand the existing sponsored research agreement with the University of
California at Los Angeles (UCLA) to develop technology to reduce the cost of
green hydrogen production. The new agreement is 10 times the previous budget
and significantly expands the scope of the research program.

The initial sponsored research program at UCLA was focused on replacing the
oxygen catalyst, iridium, a precious metal found only in asteroids, with low
cost materials that meet or exceed the performance characteristics of iridium.
The expanded research will focus on significantly reducing or replacing the
hydrogen catalyst, platinum. Platinum is so rare that only 200 tons are mined
every year and yet its demand is ever increasing in applications such as
batteries, fuel cells, fiber optics, LCD displays, cancer treatment and many
others.

Additionally, a complete and fully optimized electrolyzer device will be
developed that incorporates all the innovations from this research program.
This fully functional hydrogen-producing electrolyzer will serve as a
reference prototype to help electrolyzer manufacturers worldwide use our
breakthrough technology to produce low cost green hydrogen.

The research will continue to be under the direction of Dr. Yu Huang, Vice
Chair for Graduate Studies, Department of Materials Science and Engineering.
Dr. Huang and her team are creating methodologies to apply the latest
developments in nanoscale materials and nanotechnology to impact a wide range
of technologies including materials synthesis, catalysis, fuel cells,
biomedical and devices applications.

“We are very pleased to broaden our clean energy research program at UCLA
with Dr. Huang and her team, a group whose collaboration we have a high level
of confidence in,” said Dr. David Lee, CEO of BioSolar. “The expanded
research focus takes some of the lessons learned and developed approaches thus
far, and applies them to other raw materials including platinum, which we
believe will maintain its increasing price trajectory. We appreciate the great
work already accomplished and share the university’s goal of a greener
world.”

About NewHydrogen, Inc.

NewHydrogen, Inc. is a wholly owned subsidiary of BioSolar, Inc. a publicly
traded company (Symbol: BSRC). The company is focused on developing a
breakthrough electrolyzer technology to lower the cost of green hydrogen
production. Hydrogen is the cleanest and most abundant fuel in the universe.
It is zero-emission and only produces water vapor when used. However, hydrogen
does not exist in its pure form on Earth so it must be extracted. For
centuries, scientists have known how to use electricity to split water into
hydrogen and oxygen using a device called an electrolyzer. Electrolyzers
installed behind a solar farm or wind farm can use renewable electricity to
split water, thereby producing green hydrogen. Unfortunately, electrolyzers
are expensive and rely on rare earth materials such as platinum and iridium.
These very expensive materials account for nearly 50% of the cost of
electrolyzers. The company’s technology is aimed at significantly reducing
or replacing rare earth materials in electrolyzers with inexpensive
earth-abundant materials to help usher in a green hydrogen economy that
Goldman Sachs estimates will be worth $12 trillion by 2050. 

To learn more about the company, please visit https://www.NewHydrogen.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or achievements could
differ materially from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking statements
are based largely on the expectations of the Company and are subject to a
number of risks and uncertainties. These include, but are not limited to,
risks and uncertainties associated with: the impact of economic, competitive
and other factors affecting the Company and its operations, markets, product,
and distributor performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently; and other
factors detailed in reports filed by the Company with the United Stated
Securities and Exchange Commission.

Any forward-looking statement made by us in this press release is based only
on information currently available to us and speaks only as of the date on
which it is made. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be made from time
to time, whether as a result of new information, future developments or
otherwise.

CONTACT INFORMATION

Investor Relations Contact: 
Tom Becker 
BioSolar, Inc.
ir@biosolar.com
(877) 904-3733




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