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BioSolar Announces $5.0 Million Registered Direct Offering
SANTA CLARITA, Calif. (April 5, 2021) – BioSolar, Inc. (OTC: BSRC), a developer of energy technologies, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase in a registered direct offering 125,000,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 125,000,000 shares of common stock. The combined purchase price for one share of common stock (or common stock equivalent in lieu thereof) and a warrant to purchase one share of common stock is $0.04. The warrants have an exercise price of $0.04 per share, will be immediately exercisable and will expire five years from the issuance date.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds from the offering are expected to be $5.0 million. The Company intends to use the net proceeds primarily to aggressively expand and accelerate the development of its electrolyzer technology to lower the cost of green hydrogen production, as well as for working capital and general corporate purposes. The offering is expected to close on or about April 7, 2021, subject to the satisfaction of customary closing conditions.
A shelf registration statement on Form S-3 (File No. 333-254336) relating to the registered direct offering of the securities described above was filed with the Securities and Exchange Commission (“SEC”) on March 16, 2021 and was declared effective on March 25, 2021. The offering of the securities is being made only by means of a prospectus supplement and accompanying prospectus that forms a part of the effective registration statement. Electronic copies of the final prospectus supplement and the accompanying prospectus will be filed with the SEC and may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (212) 856-5711 or by emailing placements@hcwco.com or at the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Company recently announced that is in the process of changing its corporate name to NewHydrogen, Inc. to better reflect its expanded focus on green hydrogen technologies.
delerious1
2週前
OTCMKTS:NEWH.....New Hydrogen CEO Steve Hill And University Of Houston Expert Discuss Hydrogen Adoption And Current State Of Hydrogen Vehicles
Dr. Kaushik Rajashekara shares his experience in electric and hybrid propulsion systems stemming from his career at General Motors and Rolls-Royce
SANTA CLARITA, Calif., Nov. 19, 2024 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTCMKTS:NEWH), the developer of ThermoLoop ™ , a breakthrough technology that uses water and heat rather than electricity to produce the world’s cheapest green hydrogen, today announced a podcast featuring CEO Steve Hill and Dr. Kaushik Rajashekara, a Distinguished Professor of Engineering at the University of Houston.
Dr. Rajashekara discusses his early work at GM in the late 1980s on electric vehicles, transitioning technology from prototype to production, particularly focusing on the EV1, and his involvement in fuel cell technology, including developing the first gasoline reformer-based fuel cell vehicle and the shift towards using hydrogen fuel cells without onboard reformers. He also briefly touches on his work on solid oxide fuel cells for Rolls-Royce, focusing on power generation rather than propulsion.
On the challenges in hydrogen adoption, Dr. Rajashekara addresses the "chicken and egg" problem of fuel cell vehicle infrastructure versus vehicle availability, noting slow progress due to high costs and lack of refueling stations. He believes that hydrogen fuel cells are better suited for heavy-duty vehicles like buses, trucks, and ships, while battery electric vehicles are more efficient for passenger transport.
Dr. Rajashekara also outlines potential applications of hydrogen in aviation, including the Joby aircraft's use of hydrogen power, and emphasizes the advantages of hydrogen over batteries in aircraft due to quicker refueling and lighter weight for larger distances.
He concludes with optimism about hydrogen's role in sustainable transportation, particularly for heavy-duty and aviation applications, while recognizing challenges in passenger vehicle markets.
Dr. Kaushik Rajashekara received a Ph.D. in Electrical Engineering from Indian Institute of Science, Bangalore. He is currently a Distinguished Professor of Engineering at the University of Houston. He previously held many positions including a Distinguished Professor of Engineering at the University of Texas at Dallas, and Chief Technologist for Electric Power & Control Systems at Rolls-Royce Corporation. Dr. Rajashekara is a recipient of 2022 Global Energy Prize for outstanding contributions to transportation electrification and energy efficiency technologies while reducing power generation emissions, a Member of the U.S. National Academy of Engineering (NAE) for contributions to electric power conversion systems in transportation. His research interests include power electronics and drive systems, subsea electrical systems, transportation electrification, electric, hybrid, and fuel cell vehicle, electric and hybrid electric aircraft, and flying cars, renewable energy and microgrids. Dr. Rajashekara is listed as Google Scholar at ? Kaushik Rajashekara - ? Google Scholar .
Watch the full discussion on the NewHydrogen Podcast featuring Dr. Kaushik Rajashekara at https://newhydrogen.com/videos/ceo-podcast/dr-kaushik-rajashekara-university-of-houston .
For more information about NewHydrogen, please visit https://newhydrogen.com/ .
About NewHydrogen, Inc.
delerious1
4週前
New Hydrogen CEO Steve Hill and Duke University Energy Policy Expert Discuss the Challenges and Opportunities of the Hydrogen Sector in the United States
Dr. Jackson Ewing emphasizes the need for a robust policy framework to incentivize green hydrogen production and adoption
SANTA CLARITA, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTCMKTS:NEWH), the developer of ThermoLoop™, a breakthrough technology that uses water and heat rather than electricity to produce the world’s cheapest green hydrogen, today announced a podcast featuring CEO Steve Hill and Dr. Jackson Ewing, Director of Energy and Climate Policy at Duke University.
Dr. Ewing highlighted the ‘Catch-22’ dynamic in the hydrogen sector, where the lack of demand hinders investment in supply, and vice versa. He emphasized the need for a comprehensive approach, including incentives, infrastructure development, and market mechanisms to address this challenge. Promising demand drivers for hydrogen were identified, such as ammonia, long-haul trucking, and industrial processes, where green hydrogen could replace traditional fossil fuels.
As an advocate for policy interventions, Dr. Ewing discusses the importance of production tax credits, permitting reform, carbon pricing mechanisms, and low-carbon fuel standards to accelerate green hydrogen adoption. He argues that the hydrogen sector has the potential to thrive under various political climates, stressing the need for a robust and durable policy framework to ensure long-term investment and growth.
Dr. Ewing emphasized the importance of bipartisan support and collaboration in developing a vibrant green hydrogen sector, recognizing its significance for national energy security and climate goals.
Dr. Jackson Ewing holds a Doctorate in Environmental Security and Master's Degree in International Relations from Australia’s Bond University, and a Bachelor’s Degree in Political Science from the College of Charleston. He is currently Director of Energy and Climate Policy at the Nicholas Institute of Energy, Environment & Sustainability at Duke University. He holds additional appointments as an Adjunct Associate Professor at the Nicholas School of the Environment, a Faculty Affiliate with the Duke Center for International Development at the Sanford School of Public Policy and the Duke Asian/Pacific Studies Center, and Faculty Lead for the Duke Kunshan University International Masters of Environmental Policy program. Dr. Ewing’s work seeks to help facilitate energy transitions internationally and in the United States. His current projects focus on international climate finance and just energy transition partnerships, systems-level changes needed to meet net-zero goals in the United States, international carbon pricing and clubs, and US-China climate relations. He has worked in more than 20 countries, and collaborates closely with actors in government, the private sector, civil society, and international organizations. He publishes widely and contributes to radio, television, and print media. Prior to joining Duke, Dr. Ewing was Director of Asian Sustainability at the Asia Society Policy Institute in New York, where he led projects on Asian carbon market cooperation and sustainable resource development in the ASEAN Economic Community. He also previously served as a MacArthur Non-Traditional Security Fellow for Environment, Climate Change and Food Security at Singapore’s S. Rajaratnam School of International Studies.
Dr. Ewing is listed as Google Scholar at https://scholar.google.com/citations?user=E4bAXpMAAAAJ.
Watch the full discussion on the NewHydrogen Podcast featuring Dr. Jackson Ewing at https://newhydrogen.com/videos/ceo-podcast/jackson-ewing-phd-duke-university.
For more information about NewHydrogen, please visit https://newhydrogen.com/.
About NewHydrogen, Inc.
NewHydrogen is developing ThermoLoop™ – a breakthrough technology that uses water and heat rather than electricity to produce the world’s lowest cost green hydrogen. Hydrogen is the cleanest and most abundant element in the universe, and we can’t live without it. Hydrogen is the key ingredient in making fertilizers needed to grow food for the world. It is also used for transportation, refining oil and making steel, glass, pharmaceuticals and more. Nearly all the hydrogen today is made from hydrocarbons like coal, oil, and natural gas, which are dirty and limited resources. Water, on the other hand, is an infinite and renewable worldwide resource.
Currently, the most common method of making green hydrogen is to split water into oxygen and hydrogen with an electrolyzer using green electricity produced from solar or wind. However, green electricity is and always will be very expensive. It currently accounts for 73% of the cost of green hydrogen. By using heat directly, we can skip the expensive process of making electricity, and fundamentally lower the cost of green hydrogen. Inexpensive heat can be obtained from concentrated solar, geothermal, nuclear reactors and industrial waste heat for use in our novel low-cost thermochemical water splitting process. Working with a world class research team at UC Santa Barbara, our goal is to help usher in the green hydrogen economy that Goldman Sachs estimated to have a future market value of $12 trillion.
Safe Harbor Statement
delerious1
1月前
NEWH....NEWS....NewHydrogen CEO Steve Hill and University of Maryland Energy Expert Explore Hydrogen as an Energy Source
October 22, 2024 03:30 ET
| Source: NewHydrogen, Inc.
Dr. Christopher Cadou highlights the potential benefits and the challenges of using hydrogen for aviation, the concept of drop-in replacements for fossil fuels
SANTA CLARITA, Calif., Oct. 22, 2024 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTCMKTS:NEWH), the developer of ThermoLoop™, a breakthrough technology that uses water and heat rather than electricity to produce the world’s cheapest green hydrogen, today announced a recent episode of the NewHydrogen Podcast. CEO Steve Hill explored hydrogen’s potential with Dr. Christopher Cadou, a Keystone Professor in the University of Maryland's A. James Clark School of Engineering.
This podcast covered fuel cells, hydrogen’s role in aviation, and the future of decarbonization. Dr. Cadou explained fuel cells’ operation, comparing them to combustion reactions. He highlighted hydrogen’s efficiency but noted challenges in aviation due to low energy density. He emphasized using existing infrastructure for hydrogen based synthetic fuels to reduce carbon emissions and cost.
Dr. Cadou explained how fuel cells work, comparing them to combustion reactions and emphasizing the role of ions and catalysts. Dr. Cadou remarked, “a fuel cell works on the transport of ions that is the opposite of an electrolysis where we put energy in, but in a fuel cell we extract energy out.” He added, “Using hydrogen to power long distance flights might not be viable due to hydrogen's low energy density at normal temperatures and pressures.”
On synthetic hydrocarbons, Dr. Cadou said, “Using existing infrastructure for fuel delivery and storage may be more cost effective with synthetic fuels,” emphasizing the importance of defossilization rather than just decarbonization and highlighting the potential of hydrogen-sourced synthetic hydrocarbons as a carbon-neutral energy carrier. “Partnerships focused on carbon capture and utilization, along with hydrogen production, could create a more sustainable energy future.”
Christopher Cadou received the BS. in Mechanical Engineering and the B.A. in History from Cornell University in 1989. He subsequently received the M.S. and PhD. Degrees in Mechanical Engineering from UCLA in 1991 and 1996 respectively. Dr. Cadou’s early research focused on the thermophysical issues underlying and often limiting the miniaturization of combustion-based power systems. He developed a variety of analytical models and numerical simulations that have significantly advanced our understanding of flame stabilization in micro-channels, unique non-intrusive diagnostic techniques for measuring temperature and species concentrations in micro-scale flows, and the development of a unique miniature engine testing facility. He has since expanded into other areas including film cooling in supersonic environments, the development of non-intrusive diagnostic techniques for supersonic environments and miniature piston engine combustion chambers, compact, hybrid piezo-fluid actuators for aerospace applications, pulsejet engines, and most recently fuel cell-gas turbine hybridization for aerospace applications. Dr. Cadou is a member of the Combustion Institute, the American Society of Mechanical Engineers, an Associate Fellow of the American Institute of Aeronautics and Astronautics, and Fellow of the American Society of Mechanical Engineers.
Watch the full discussion on the NewHydrogen Podcast featuring Dr. Christopher Cadou at https://newhydrogen.com/videos/ceo-podcast/professor-hristopher-p-cadou-phd-university-of-maryland.
For more information about NewHydrogen, please visit https://newhydrogen.com/.
About NewHydrogen, Inc.
NewHydrogen is developing ThermoLoop™ – a breakthrough technology that uses water and heat rather than electricity to produce the world’s lowest cost green hydrogen. Hydrogen is the cleanest and most abundant element in the universe, and we can’t live without it. Hydrogen is the key ingredient in making fertilizers needed to grow food for the world. It is also used for transportation, refining oil and making steel, glass, pharmaceuticals and more. Nearly all the hydrogen today is made from hydrocarbons like coal, oil, and natural gas, which are dirty and limited resources. Water, on the other hand, is an infinite and renewable worldwide resource.
Currently, the most common method of making green hydrogen is to split water into oxygen and hydrogen with an electrolyzer using green electricity produced from solar or wind. However, green electricity is and always will be very expensive. It currently accounts for 73% of the cost of green hydrogen. By using heat directly, we can skip the expensive process of making electricity, and fundamentally lower the cost of green hydrogen. Inexpensive heat can be obtained from concentrated solar, geothermal, nuclear reactors and industrial waste heat for use in our novel low-cost thermochemical water splitting process. Working with a world class research team at UC Santa Barbara, our goal is to help usher in the green hydrogen economy that Goldman Sachs estimated to have a future market value of $12 trillion.
r2g2
1年前
NewHydrogen Announces Disruptive Technology to Produce the World's Cheapest Green Hydrogen
Working with a team of world-class chemical and materials engineers at UC Santa Barbara, the Company is developing a better way to efficiently split water into cheap green hydrogen with a thermochemical approach, using heat instead of electricity
SANTA CLARITA, Calif. (August 22, 2023) — NewHydrogen, Inc. (OTC:NEWH), the developer of a disruptive technology that uses clean energy and water to produce the world’s cheapest green hydrogen, today announced that the Company recently entered into a research agreement with UC Santa Barbara to work with a team of world-class chemical and materials engineers to develop a better way to efficiently split water into cheap green hydrogen with a thermochemical approach, using heat instead of electricity.
“Hydrogen is the cleanest and most abundant element in the universe, and we can’t live without it,” said NewHydrogen CEO Steve Hill. “Hydrogen is the key ingredient in making fertilizers needed to grow food for the world. It is also used for transportation, refining oil and making steel, glass, pharmaceuticals and more. The world needs lots of hydrogen, and it must be cheap and green.”
Mr. Hill continued, “The gold standard for producing green hydrogen today is through electrolysis by using electrolyzers with solar or wind electricity to split water into hydrogen and oxygen. Unfortunately, electricity, especially green electricity, is very expensive and will continue to be expensive. In fact, electricity currently accounts for 73% of the cost of green hydrogen production. On the other hand, renewable heat from sources such as concentrated solar and geothermal can be very low cost. Often it’s even free in the form of waste heat from sources such as nuclear power plants, and industrial processes for making steel, glass, ceramics, and many things we use in our everyday lives.”
“The UC Santa Barbara technology team, led by Dr. Philip Christopher, plans to exploit the features of molten liquids to directly split water continuously in a single redox chemical loop, to produce hydrogen and oxygen in separate chambers,” Mr. Hill disclosed. “We are developing a novel Molten Catalytic Liquid that can be reduced in one chamber, oxidized in another chamber, and is continuously recycled and reused. The only inputs are heat and water. We call this technology, NewHydrogen ThermoLoop™, and it will be a novel, first of its kind, high efficiency thermochemical water-splitter that uses low-cost common materials and common industrial temperatures of less than 1,000°C, to potentially produce the world’s cheapest green hydrogen.”
Green hydrogen is crucial in meeting the greenhouse gas emission goals described in the United Nations Paris Agreement. Solar, wind and batteries alone simply cannot be relied upon to decarbonize industries, such as aviation, maritime, steel, cement, fertilizers, oil refining and pharmaceuticals. The expected global drive towards “net-zero emission” by 2050 will create tremendous demand for green hydrogen for decades to come. Goldman Sachs estimates a future market value of $12 trillion.
“NewHydrogen now has two promising green hydrogen technology projects under way,” Mr. Hill reported. “In addition to our heat-based ThermoLoop™ project at UC Santa Barbara, our UCLA technology team, led by Dr. Yu Huang, has made considerable progress in our quest to replace and reduce expensive rare earth materials used as catalysts in conventional electrolyzers. Until there is a new technology that does not rely on electricity as the input energy to make hydrogen, electrolyzers will continue to serve as an important bridge to the green hydrogen economy.”
Mr. Hill concluded, “NewHydrogen has the potential to disrupt the entire hydrogen industry by dramatically lowering the cost of green hydrogen by using cheap heat and any source of cheap water. Depending on relative world costs and availability of hydrocarbon feed stocks, our disruptive technology has the potential to produce green hydrogen at a lower cost than grey hydrogen made from natural gas, or blue hydrogen made from natural gas with carbon capture. In other word, the world’s cheapest hydrogen.”
For more information about NewHydrogen, please visit https://newhydrogen.com/
About NewHydrogen, Inc.
NewHydrogen is developing a disruptive technology that uses clean energy and water to produce the world’s lowest cost green hydrogen. Hydrogen is the cleanest and most abundant element in the universe, and we can’t live without it. Hydrogen is the key ingredient in making fertilizers needed to grow food for the world. It is also used for transportation, refining oil and making steel, glass, pharmaceuticals and more. Nearly all the hydrogen today is made from hydrocarbons like coal, oil, and natural gas, which are dirty and limited resources. Water, on the other hand, is an infinite and renewable worldwide resource. However, extracting hydrogen from water is an expensive process. Working with research teams at UCLA and UC Santa Barbara, NewHydrogen is helping to advance the green hydrogen revolution. We are developing NewHydrogen ThermoLoop™, a disruptive water splitting technology that uses clean energy and water to produce unlimited quantities of the world’s cheapest green hydrogen. Our goal is to help usher in the green hydrogen economy that Goldman Sachs estimated to have a future market value of $12 trillion.
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