NewHydrogen CEO Steve Hill Discusses the Need for Technological Advancements for Green Hydrogen Production with Rice University Expert

Rhea-AI Summary

NewHydrogen CEO Steve Hill recently interviewed Dr. Haotian Wang, Associate Professor at Rice University, about green hydrogen production challenges and advancements. Dr. Wang highlighted the current high cost of green hydrogen ($5-6/kg) and the DOE's goal to reduce it to $1/kg by 2030. He emphasized the need for technological innovations and supply chain collaborations to achieve this target.

The discussion covered challenges in water electrolysis, including the use of rare metals like iridium and the need for more abundant, cost-effective alternatives. Dr. Wang stressed the importance of durability and scalability in scaling up technologies for electrolysis to play a significant role in decarbonizing chemicals and fuels. The interview also addressed the gap between academic research and industrial needs, suggesting increased collaboration to bridge this divide.

Positive

• NewHydrogen is developing breakthrough technology for cheap green hydrogen production
• Collaboration with academic experts to advance green hydrogen technology

Negative

• Current high cost of green hydrogen production ($5-6 per kg)
• Challenges in scaling up innovative ideas from lab to industry
• global production of rare metals like iridium for water electrolysis

Dr. Haotian Wang discussed his research on nano materials and the importance of durability and scalability in scaling up technologies

SANTA CLARITA, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- NewHydrogen, Inc. (OTCMKTS:NEWH), the developer of a breakthrough technology that uses clean energy and water to produce the world’s cheapest green hydrogen, today announced that in a recent podcast the Company’s CEO Steve Hill spoke with Haotian Wang, Associate Professor in the Department of Chemical and Biomolecular Engineering at Rice university.

Dr. Wang discussed his work on electrochemical methods for carbon capture and conversion into high-value products, as well as the development of mobile catalytic materials for more efficient and cost-effective water splitting. Dr. Wang said, “There are challenges associated with hydrogen production, particularly the high cost of green hydrogen, which is currently around $5-6 per kilo.” He mentioned the Department of Energy's ambitious goal to reduce the cost of green hydrogen to $1 per kilo by 2030. The discussion also highlighted the need for technological advancements and supply chain collaborations to achieve this goal.

Regarding the challenges associated with using rare metals like iridium in the process of water electrolysis for hydrogen production, Dr. Wang said, “The scalability issue due to the limited global production of iridium necessitates finding alternatives that are more abundant and cost-effective, while still maintaining similar catalytic performance and durability.” Dr. Wang also mentioned another type of water electrolyzer that uses low-cost catalyst materials but has different stability issues. The focus of his research is to resolve these issues and make the process more commercially viable.

They discussed the challenges of scaling innovative ideas from the lab to industry. Dr. Wang acknowledged a gap between academic research and industrial needs, and suggested that more collaboration between universities and industry could help bridge this gap. Dr. Wang said, “In order for electrolysis to play a significant role in decarbonizing chemicals and fuels in the future, we cannot overemphasize the importance of durability and scalability in scaling up technologies.”

Dr. Haotian Wang received his PhD degree in the Department of Applied Physics at Stanford University in 2016, after which he received the Rowland Fellowship and began his independent research career at Harvard as a principal investigator. He was awarded the Sloan Fellow, Packard Fellow, CIFAR Azrieli Global Scholar, Forbes 30 Under 30, highly cited researchers, etc. He serves as the associate editor of Nano Letters. He is the co-founder and chief scientist of Solidec, a carbon capture and chemicals and fuels production company. His research group has been focused on developing novel nanomaterials for energy and environmental applications including energy storage, chemical/fuel generation, and water treatment. Dr. Wang is listed as Google Scholar at https://scholar.google.com/citations?user=dC4j6AMAAAAJ&hl=en.

Watch the full discussion on the NewHydrogen Podcast featuring Dr. Wang at
https://newhydrogen.com/videos/ceo-podcast/dr-haotian-wang-rice-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

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, the impact on the national and local economies resulting from terrorist actions, the impact of public health epidemics on the global economy and other factors detailed in reports filed by the Company with the United States 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.

Investor Relations Contact:

NewHydrogen, Inc.
ir@newhydrogen.com

FAQ

What is the current cost of green hydrogen production according to the NewHydrogen (NEWH) CEO interview?

According to the interview, the current cost of green hydrogen production is around $5-6 per kilogram.

What is the Department of Energy's goal for green hydrogen cost reduction by 2030, as mentioned in the NewHydrogen (NEWH) press release?

The Department of Energy's goal is to reduce the cost of green hydrogen to $1 per kilogram by 2030.

What are the main challenges in green hydrogen production discussed by NewHydrogen (NEWH) and Dr. Wang?

The main challenges discussed include the high cost of production, scalability issues due to availability of rare metals like iridium, and the need for more durable and cost-effective catalyst materials.

How does NewHydrogen (NEWH) plan to address the challenges in green hydrogen production?

NewHydrogen is collaborating with academic experts like Dr. Wang to develop breakthrough technologies that use clean energy and water to produce cheaper green hydrogen, focusing on improving durability and scalability of the production process.