Green hydrogen startup receives $2.1M investment from student-led firm
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.
