HyperSolar, Inc. (OTCQB:HYSR) shares are on the move higher as the company announced that it has completed its largest prototype to date, a one-square-foot unit that demonstrates increased capability to produce renewable hydrogen utilizing commercially available silicon solar cells.
The prototype was completed at the University of Iowa campus, the site of its growing scientific team led by CTO Dr. Joun Lee and University of Iowa professor, Dr. Syed Mubeen.
"With this demonstration and further improvements in stability and efficiency through innovations in catalyst integration technology, we believe our prototypes can soon be commercially viable," said Lee, HyperSolar chief technologist.
Demand for hydrogen has increased significantly in the last three years with fuel cell vehicles and power equipment coming to market from large auto manufacturers like Honda and Toyota (NYSE: TM)and fuel cell makers like Plug Power. To date however, over 95% of hydrogen produced still uses a method utilizing natural gas, a fossil fuel. HyperSolar’s process is completely green and sustainable and can be deployed off grid.
This exciting development has resulted in shares of HYSR being bid up to the tune of 3% in mid-day trading at $0.0101 per share.
