Sunhydrogen, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2021
May 18, 2021 at 04:21 pm EDT
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SunHydrogen, Inc. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced operating loss was USD 1.824 million compared to USD 426,943 a year ago. Net loss was USD 20.456 million compared to USD 575,440 a year ago. Basic loss per share from continuing operations was USD 0.01. For the nine months, operating loss was USD 5.134 million compared to USD 1.393 million a year ago. Net loss was USD 163.710 million compared to USD 5.108 million a year ago. Basic loss per share from continuing operations was USD 0.07.
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.