Home Financial Markets Penny Stocks Let’s take a look why Solar Hydrogen (HYSR) stock is booming recently?

Let’s take a look why Solar Hydrogen (HYSR) stock is booming recently?

Solar Hydrogen (HYSR) is working on a low-cost, breakthrough technology to produce renewable hydrogen using sunlight, seawater, and wastewater. The stock rose 37.5% to $0.078 yesterday. During the day the Company ranged from $0.2162 to $0.30 with a volume of 160,641,865 in contrast with an average 30-day volume of 68,033,304.

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When compared to hydrocarbon fuels, such as oil, coal, and natural gas, which release carbon dioxide and other contaminants when used, hydrogen fuel only produces pure water as a byproduct of usage.

Recent developments

the most recent news announcement by the company was almost 20 days ago on December 31, 2020, When SunHydrogen, Inc. (OTC: HYSR) has shared a year closing overview on market growth and technologies.

Key Highlights

  • The Gen 1 program was designed to demonstrate clearly the concept and the potential to increase scalability and eventually commercial viability. SunHydrogen is currently building up 100 Solar Hydrogen prototype devices including the assembly of solar cells with applied coatings and catalysts and the housing for the safe collection of hydrogen.
  • The Company has entered into an MOU with two companies in China, Suzhou GH New Energy Tech Co., LTD, and Suzhou Maimaosi Sensor Technology Co., LTD, both based in Suzhou, China. The Gen 1 technology uses multi-junction amorphous silicon solar cells.
  • In 2019, Gen 1 cell technology showed 1000 hours of continuous production of hydrogen. Although the overall cell efficiency is low, SunHydrogen has acquired interesting and useful insight for the development of its Gen 2 nanoparticles technology through experimentations.
  • In early Q2 of 2021, SunHydrogen expects the completion of the 100 prototype devices, allowing the Company to exploit them as more proof of concept as the Company continues to accelerate the production of nanotechnology.
  • From technology and market feasibility point of view, SunHydrogen’s Gen 2 program is one that the company claims is more economical.
  • Gen 2 technology is ideally placed to produce three times the performance of solar-to-hydrogen and poses a possible turning point for market-changing hydrogen development by acquiring and exploiting lessons from the Gen 1 initiative.

Summary

During recent times, this stock’s share price has experienced wild swings as investors eagerly influenced the stock’s price on simple company news or on no news at all. So the recent surge seemed to be the sequence of that pattern.

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