Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 3

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 1
Chunk 3
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 both traditional solar panels and our hydrogen-generating panels interchangeably, streamlining
production and reducing costs.

●Successful Scaled-up Fabrication of Hydrogen Modules: In collaboration with our partner CTF Solar, we implemented the above
design and fabricated initial hydrogen modules with a 100 cm² active area. These proof-of-concept thin-film based modules confirmed
the design’s feasibility and set the stage for scaling up module size.

●Achieved Stable Operation and High Solar-to-Hydrogen Efficiency: Developed stabilization schemes and integrated protective
catalyst layers that allow our thin-film hydrogen modules to operate stably at solar-to-hydrogen conversion efficiencies exceeding 10%
in small-area (100 cm²) tests. Notably, even after scaling up tenfold, our larger 1200 cm² modules demonstrated ~9% efficiency,
the highest reported for a hydrogen module of this size, with the efficiency remaining close to 10%. These larger modules also maintained
stable performance across a broad temperature range (5°C to 40°C) during testing, underscoring the robustness of our design in
varying environmental conditions.

●Completion of 1 m² Prototype Demonstration: Successfully constructed and demonstrated a 1 m² hydrogen panel prototype
composed of nine 1,200 cm² thin-film modules (manufactured in collaboration with CTF Solar). This proof-of-concept system, showcased
in a January demonstration video, produced hydrogen using only sunlight and water, confirming the viability of our technology at a commercially
relevant panel size and validating our approach to modular scale-up.

●Introduction of Commercial-Size 1.92 m² Module: We designed, built, and unveiled a 1.92 m² hydrogen reactor module
at the Hydrogen Technology Expo in Houston, Texas. This 21-square-foot prototype – our largest single-module device to date, was
then demonstrated producing hydrogen at our Iowa labs in real time from sunlight and water. The successful debut of a commercial-PV sized
panel confirms that our hydrogen modules can be manufactured on existing solar panel production lines without modification, and it represents
a major milestone toward decentralizing renewable hydrogen production at scale.

Additional accomplishments that span both nanoparticle-based and thin
film-based hydrogen modules include:

●Advanced Housing Unit: Developed a novel panel housing design (in collaboration with SunHydrogen consultants Prof. Nirala Singh,
Prof. Kazunari Domen, Dr. Hiroshi Nishiyama, and Dr. Taro Yamada) for