NewHydrogen expands UCLA green hydrogen research through 2025, increases funding to $2.8M

NewHydrogen, Inc.

Extends sponsored research at UCLA to Dec 31, 2025; total consideration raised to $2,797,368.
Scope expanded to include development of PEM electrolyzer incorporating its novel oxygen/hydrogen catalysts.
Goal: reduce cost of green hydrogen by replacing expensive iridium and platinum.
Company aims to develop low-cost, high-performance electrolyzer with multiple component innovations.
CEO Dr. David Lee expresses confidence in UCLA team to drastically reduce green hydrogen cost.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NewHydrogen, Inc. amended Sponsored Research Agreement Third Amendment with the Regents of the University of California valued at $2,797,368 (effective 2022-10-30).

Action: amendment
Agreement: collaboration
Counterparty: the Regents of the University of California
Value: $2,797,368
Effective: 2022-10-30

Exact text from the filing

On October 30, 2022, the Company entered into Sponsored Research Agreement Third Amendment (the “Amendment Agreement”). Pursuant to the Amendment Agreement, the Sponsored Research Agreement was further amended to among other things (i) extend the term of the Sponsored Research Agreement to December 31, 2025; (ii) increase the consideration payable to the University under the Sponsored Research Agreement to $2,797,368; (iv) amend the scope of work under the Sponsored Research Agreement; and (iii) update the schedule of payments to the University.

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NewHydrogen, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-030097

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