SunHydrogen secures 19.9% stake In NewHydrogen to expand clean hydrogen technologies
In India, Solar Quarter reported that SunHydrogen has announced a strategic investment in NewHydrogen, securing a 19.9% ownership stake in the company, along with the right to purchase additional shares.
The investment aims to strengthen collaboration between the two companies and expand their participation in both decentralized and centralized clean hydrogen markets, according to the report.
The partnership brings together two technology developers pursuing different approaches to hydrogen production using water as a primary feedstock. SunHydrogen is developing a solar-powered technology designed to produce hydrogen directly from sunlight and water, while NewHydrogen is working on a thermochemical process intended for large-scale industrial hydrogen production.
SunHydrogen President and Chief Executive Officer Tim Young said the investment would enable the company to support industrial-scale hydrogen production, particularly in regions that depend on imported energy, while maintaining its focus on decentralized solar hydrogen technology.
Category: Hydrogen
