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.
