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BSRC - BioSolar Inc News Story

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Market Cap £22.1m
Enterprise Value £23.8m
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Position in Universe 5943rd / 6852

White House Executive Actions Bode Well for the Environment and BioSolar

Thu 21st January, 2021 4:04pm
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SANTA CLARITA, Calif., Jan. 21, 2021 (GLOBE NEWSWIRE) -- BioSolar, Inc.
(OTC:BSRC) (“BioSolar” or the “Company”), a developer of clean energy
technologies, today commented that its wholly owned subsidiary NewHydrogen,
Inc. is likely to benefit from executive actions signed by President Biden
during his first day in office.

Mr. Biden signed executive actions Wednesday afternoon to rejoin the Paris
Climate Accord, direct federal agencies to consider revising vehicle fuel
economy and emissions standards and cancel permits for the construction of the
Keystone XL pipeline — all reversals of policies put in place by President

“We believe that Green Hydrogen – hydrogen produced by splitting water
molecules – can play a central role in the new administration’s quest for
clean and renewable energy,” said Dr. David Lee, the Company’s CEO. “Our
research program at UCLA is aimed squarely at developing more efficient

Electrolyzers are essentially systems installed behind a solar farm or wind
farm that use renewable electricity to split water into hydrogen and oxygen,
thereby producing Green Hydrogen. Electrolyzers are mature technologies that
have been around for over 200 years. The main problem, and the main reason,
why we don’t have Green Hydrogen everywhere today is because electrolyzers
cost too much. The chemical catalysts that enables the critical
water-splitting reactions are currently made from platinum and iridium –
both are very expensive precious metals. These catalysts account for nearly
50% of the cost of the electrolyzer.

The Company’s current UCLA research program is focused on replacing iridium
with earth abundant materials that meet or exceed the performance
characteristics of iridium, a precious metal found only in asteroids.

Dr. Lee continued, “We intend to aggressively expand our research programs
to reduce the cost of these major material components to significantly reduce
the cost of green hydrogen production. Whether doing more at UCLA, or building
out our in-house team, partnering with other top research institutions, we are
fully committed to a future powered by Green Hydrogen. Goldman Sachs calls
Green Hydrogen a ‘once in a lifetime’ $12 trillion market opportunity
We are excited to be a part of this revolution to establish a more sustainable

About BioSolar, Inc.

BioSolar is developing breakthrough technologies to increase the storage
capacity, lower the cost and extend the life of lithium-ion batteries for
electric vehicles. The need for such breakthroughs is critical to meet the
expected demand of the rapidly growing global electric vehicle battery market,
which is forecast to exceed $90 billion by 2025. A lithium-ion battery
contains two major parts, a lithium-filled cathode and a lithium-receiving
anode, that function together as the positive and negative sides of the
battery. BioSolar is developing innovative technologies that will enable the
use of inexpensive silicon as the anode material to create next generation
high energy and high-power lithium-ion batteries for electric vehicles.
Founded with the vision of developing breakthrough energy technologies,
BioSolar’s previous successes include the world’s first bio-based
backsheet for use in solar panels. To learn more about BioSolar, please visit
our website at

About NewHydrogen, Inc.

NewHydrogen, Inc., a wholly owned subsidiary of BioSolar, Inc., is focused on
developing a breakthrough electrolyzer technology to lower the cost of green
hydrogen. 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 split water into hydrogen and oxygen
using a simple and elegant device called an electrolyzer. Unfortunately,
electrolyzers are expensive and rely on rare earth materials such as platinum
and iridium – literally stardust found only in asteroids. These materials
account for nearly 50% of the cost of electrolyzers. NewHydrogen is developing
a breakthrough electrolyzer technology to replace rare earth materials with
inexpensive earth abundant materials to help usher in a green hydrogen economy
that Goldman Sacks estimated to be worth $12 trillion by 2050. To learn more
about NewHydrogen, please visit our website at

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

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

GlobeNewswire, Inc. 2021
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