So-called “green hydrogen” company, SunHydrogen, which aims to make renewable hydrogen using sunlight and any source of water, including seawater and wastewater, announced today that it received a commitment for the purchase of up to $2.1 million of its stock from Triton Funds LP. SunHydrogen said the investment will help accelerate the development of the company’s nanoparticle hydrogen production technology, which uses sunlight and water to produce renewable hydrogen.
TRITON was founded by and is managed by students from the University of California, San Diego, and is the largest student-run investment fund in the U.S. It focuses on “millennial growth ESG” (Environmental, Social and Governance) investment themes.
“In 2012, our company entered into an agreement with the University of California at Santa Barbara to begin the development of our unique green hydrogen production technology,” said Tim Young, CEO of SunHydrogen.
Mr. Young continued, “Funding from TRITON will be very helpful in providing the resources required to reduce the time it will take to bring our technology to market.”
Principal of TRITON, Jared Alexandria, commented, “SunHydrogen fits our model perfectly. The millennial generation is extremely concerned with the current efforts to keep our planet clean and SunHydrogen has the potential to bring about a whole new paradigm for clean energy production. We believe the company’s technology may be the answer to providing inexpensive green hydrogen and ushering in the long hoped-for hydrogen economy.”
The shares are being offered by SunHydrogen, Inc. pursuant to an effective “shelf” registration statement previously filed with and subsequently declared effective on July 8, 2020 by the Securities and Exchange Commission. The securities are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The terms of the investment are disclosed in the prospectus supplement filed with the Securities and Exchange Commission.