BioSolar changes name to NewHydrogen, launches green hydrogen subsidiary

The Signal Business News

Santa Clarita battery technology company BioSolar Inc. has changed its corporate name to NewHydrogen Inc.

The change follows the company’s recent announcement of the launch of a wholly owned subsidiary focused on producing green hydrogen at a lower cost.

Green hydrogen is the power source for fuel cell electric vehicles, the Santa Clarita company said, with hydrogen produced via renewable means, as opposed to hydrogen-carbon-based energy in natural gas and other fossil fuels.

NewHydrogen plans to develop green hydrogen electrolyzer technology – splitting water into hydrogen and oxygen – using inexpensive materials.

“We plan to use the name of our recently launched green hydrogen venture as our parent company name,” David Lee, chief executive of BioSolar, said in a statement. “Doing so represents our commitment to help meet the growing demand for renewable energy, fight climate change and sustain our planet … developing a breakthrough electrolyzer technology to replace rare earth materials with inexpensive earth-abundant materials.”

Prior to the launch of its subsidiary, the Santa Clarita company focused solely on lithium-ion battery technology for electric vehicles.

While the company launches its new venture, it is set to continue to develop its lithium-ion battery technology.

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