SUNHYDROGEN, INC.

SunHydrogen, Inc.

What we do

• Develop photoelectrochemical (PEC) panels that produce renewable hydrogen from sunlight and water without an external power source or separate electrolyzer.
• Two development pathways:
  • Thin Film Pathway: Re-engineered cadmium telluride (CdTe) thin-film solar modules integrated with SunHydrogen’s hydrogen module design. This pathway uses existing solar manufacturing capacity and underlies the hydrogen reactors built to date.
  • Nanoparticle (PAH) Pathway: Photoelectrosynthetically Active Heterostructures (PAH) — billions of electroplated nanoparticles per square centimeter within an insulating matrix, each acting as a self-contained water-splitting unit.
• Core product concept: the SunHydrogen Panel, which integrates light absorption, catalysis, and gas separation in a single device. Pilot and commercial systems may require pumps, controls, sensors, data acquisition, gas handling, and thermal management.

Technology summary

• Semiconductor materials absorb sunlight to generate photovoltage and charge carriers.
• At the cathode, a hydrogen evolution catalyst combines electrons with protons to form hydrogen gas.
• At the anode, an oxygen evolution catalyst releases oxygen from water.
• Reactions occur in a water-based electrolyte without an externally applied bias to the active device.
• Hydrogen and oxygen are produced in a contained housing with water flow and gas separation.

Market position and business model

• Target market: decentralized hydrogen production at the point of use using natural, unconcentrated sunlight to avoid centralized production, long-distance transport, and associated emissions.
• Possible revenue models include selling panels, selling hydrogen produced by systems SunHydrogen operates, licensing the technology, or a combination. The current stated preference is to sell panels.

Development programs and partnerships

• Pilot program and sites
  • Pilot hydrogen production system at the University of Texas at Austin’s Center for Electromechanics (UT-CEM).
  • As of June 30, 2026: 12 hydrogen reactors built for UT-CEM (each with a 1.92 m² nominal aperture area); 6 installed on site; 4 commissioned and producing hydrogen under outdoor conditions; 2 revised reactors installed for outdoor operation and validation.
  • Management target: 16 reactors operating at UT-CEM by December 31, 2026 (≈ 30.7 m² nominal module aperture).
• Manufacturing and module development
  • February 2026: Technology and Manufacturing Services Agreement with CTF Solar GmbH to develop manufacturing capacity for up to 1,000 hydrogen modules of 1.92 m².
  • Ongoing joint development with Honda R&D Co., Ltd. for housing unit and balance-of-system components; agreement expires March 31, 2028.
• Global expansion and offtake development
  • April 2026: SunHydrogen Austria GmbH formed (3 employees as of June 30, 2026) to identify potential offtakers and access European funding.
  • April 2026: SunHydrogen Japan GK formed (1 employee as of June 30, 2026) to coordinate with Japanese partners and identify pilot/offtake opportunities.
• Collaboration and testing
  • August 11, 2026: Technology Collaboration and Intellectual Property Protection Agreement with Sparc Hydrogen Pty Ltd to evaluate SunHydrogen modules at Sparc’s facility and conduct a jointly funded techno-economic assessment; Sparc has an option to negotiate supply or licensing arrangements subject to conditions.
• Research and development ecosystem
  • Core R&D in Coralville, Iowa, with sponsored research agreements with the University of Iowa and the University of Michigan.
  • Industrial partners and collaborators include Honda R&D, CTF Solar, The Process Group (now Olsson), NREL, Geomatec, and Strategic Analysis, Inc. Participation in Project NanoPEC (Germany) with the Fraunhofer Center for Silicon Photovoltaics and others.
  • Minority equity investment in TECO Fuel Cell Technology (Norway).

Intellectual property

• Patents and applications cover PAH technology, multi-junction artificial photosynthetic cells, CdTe-integrated module systems, and autonomous water electrolysis.
• Issued patents include Photoelectrosynthetically Active Heterostructures; Methods for Manufacturing PAH; and Multi-Junction Artificial Photosynthetic Cell with Enhanced Photovoltages (jointly with UC Regents in part).
• Pending applications include CdTe Photovoltaic Module Systems and Methods for Autonomous Water Electrolysis, and a Photoelectrochemical Reactor for Hydrogen Production.
• The IP strategy also relies on trade secrets and know-how, particularly in coating and catalyst processes.
• Some patents are jointly owned, notably with UC Regents, which may affect enforcement.

Manufacturing inputs and supply chain

• Thin-film pathway uses CdTe PV modules; tellurium supply is geographically concentrated and primarily by-product driven.
• Nanoparticle pathway involves various semiconductor materials and processes; cadmium telluride exposure can be present in some implementations.
• Catalysts involve precious metals; there are no long-term supply agreements for modules, catalysts, or metals.
• Manufacturing depends on external partners (CTF Solar for thin film modules; various collaborators for coatings and catalysts).

Regulatory and safety

• The pilot is located at UT-Austin under institutional approvals. Commercial deployment requires site-specific regulatory permits, including building, fire, electrical, mechanical, pressure equipment, environmental, and safety compliance.
• Cadmium-containing modules introduce environmental, worker safety, and waste management considerations.
• Hydrogen production and storage entail safety risks related to gas separation and hydrogen purity, with regulatory implications.

Financial and operating highlights (as of June 30, 2026)

• Corporate structure: Nevada corporation; executive offices in Coralville, Iowa.
• Employees: 12 full-time employees as of September 18, 2026; additional consultants engaged.
• Revenue: $1,250 in the fiscal year ended June 30, 2026 from consulting services to a related party; $0 in the prior year.
• Net loss: $6,555,124 for the fiscal year ended June 30, 2026.
• Accumulated deficit: $106,633,674 as of June 30, 2026.
• Research and development expenditures: $4,344,574 (fiscal 2026) and $3,440,296 (fiscal 2025).
• Financing: historically financed primarily through equity offerings; equity purchase agreement with GHS Investments expired June 3, 2026.
• Equity and options: outstanding warrants to purchase 78,095,239 shares and options to purchase 470,965,911 shares as of June 30, 2026; Series C Preferred Stock with an aggregate value of $276,500 convertible at $0.00095 per share; potential dilution to common stock upon conversion or exercise.
• Market status: trading on OTCQB; not listed on major exchanges; penny stock rules apply.

Facilities and operations

• Laboratory and office: Coralville, Iowa.
• Pilot facility: UT-Austin UT-CEM site (facility not owned by SunHydrogen).
• Additional offices: SunHydrogen Austria GmbH (Austria) and SunHydrogen Japan GK (Japan).
• Module catalyst coating operations: leased space at 2500 Crosspark Road, Coralville, Iowa.