US-based SunHydrogen is developing a breakthrough technology to make renewable hydrogen using sunlight and any source of water.

Currently in development, SunHydrogen’s technology uses a nanoparticle-based approach in which billions of microscopic nanoparticles split apart water at the molecular level into oxygen and green hydrogen.

As SunHydrogen’s technology directly uses the electrical charges created by sunlight to generate hydrogen, its nanoparticle technology does not rely on grid power or require costly power electronics. Additionally, SunHydrogen’s planned scalable system configuration of many individual hydrogen-generating panels ensures redundancy and stability.

Through its cooperation with SunHydrogen, TECO 2030 will look to bolster its international visibility, specifically in the US, and further its zero emission fuel cell projects around the world.

TECO 2030 is currently accelerating the transition to renewable fuels by developing and building Europe’s first gigafactory of hydrogen PEM fuel cell stacks for medium to heavy-duty trucks and PEM fuel cell modules for maritime applications.

Following the investment, SunHydrogen will be invited for one board position on TECO 2030’s board of directors. As part of the investment, the two parties agree to further regulate their joint intention to pursue a potential business combination through which an up-listing of the investor on a US exchange will be explored.

Tore Enger, TECO 2030 CEO, said the investment will give it more visibility and strong strategic partner in the US which has very ambitious hydrogen plans, and will help in its mission of delivering zero emission fuel cell projects.

Tim Young, SunHydrogen CEO, said it is committed to furthering the green hydrogen economy, and through its co-operation with TECO 2030, believes it can make a significant impact in a fast-growing market that Goldman Sachs estimates to be worth $12 trillion by 2050.

TECO 2030 recently revealed plans to retrofit a tanker with a 2.4MW fuel cell system, working with Shell International Trading and Shipping Company, Shell International Exploration and Production, Ektank, Blom Maritime, TECO Solutions, Umoe Advanced Composities (UAC), FKAB Marine Design, Neste Oyj, and The Artic University of Norway (UiT).

Read more:  TECO 2030, Shell and partners to receive €5m to realise hydrogen-powered tanker