SunHydrogen, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2021
February 11, 2022 at 03:31 pm EST
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SunHydrogen, Inc. reported earnings results for the second quarter and six months ended December 31, 2021. For the second quarter, the company reported net income was USD 24.43 million compared to net loss of USD 125.12 million a year ago. Basic earnings per share from continuing operations was USD 0.01.
For the six months, net income was USD 73.06 million compared to net loss of USD 127.33 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 0.06 a year ago.
SunHydrogen, Inc. is a technology company. The Company is engaged in the development of technologies to make, store, and use green hydrogen across a range of industrial applications. Its core technology SunHydrogen Panel is in development and uses sunlight and any source of water to produce low-cost green hydrogen. Its SunHydrogen Panels produces green hydrogen. Its core technology is a self-contained, nanoparticle-based hydrogen generator that mimics photosynthesis to split water molecules, resulting in hydrogen. Its technology has the capacity to disrupt existing energy economies across a range of sectors including transportation, industry, and shipping where fossil fuels are predominantly used. Its solution Photoelectrosynthetically Active Heterostructures (PAH) nanoparticle is a microscopic machine, composed of multiple layers enabling the solar electrolysis reaction to take place.