Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 2

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 1
Chunk 2
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 and optimized an electroplating recipe for the semiconductor
units in the second junction, resulting in best-in-class devices demonstrating photovoltages greater than 0.9 V and short-circuit current
densities exceeding 20 mA/cm². This advancement in the second junction significantly boosts overall device performance.

●Enhanced Photovoltage Achievement: Established manufacturing processes for the first and second semiconductor junctions, together
achieving combined open-circuit photovoltages exceeding 1.8 V. This total photovoltage is about 1.5 times higher than the 1.23 V required
to split water, providing a substantial margin to overcome any system losses and ensuring efficient hydrogen production.

●Demonstrated Stability Under Accelerated Conditions: Showed stable performance of the nanoparticle semiconductor units for
over 100 hours under continuous 1-sun illumination at elevated temperatures, as verified by Fraunhofer through the NanoPEC project. These
accelerated tests (equivalent to ~1000 hours under normal conditions) indicate the potential for significantly longer operational lifespans
under standard use.

●Utilization of High-Throughput Catalyst Coating Equipment: Utilizing high-throughput catalyst coating equipment, we scaled
up catalyst deposition to substrate areas up to 1000 cm². In collaboration with Heraeus, we demonstrated that our water-splitting
catalysts (for hydrogen and oxygen evolution) can achieve a combined overpotential of 350 mV or lower at 10 mA/cm², enabling hydrogen
and oxygen generation at cell potentials below 1.6 V – well within the 1.8 V provided by our semiconductor units, leaving room for
even higher performance.

●Collaboration with COTEC for Scale-Up: Collaborating with COTEC, we worked to scale up and enable high-throughput production
of nanoparticle semiconductor units. The goal is to replicate our lab-scale performance at areas ≥100 cm² with a manufacturing
yield above 90%. COTEC also demonstrated scaled-up production of our oxygen evolution reaction (OER) catalysts, which will be integrated
into these larger semiconductor units to maintain efficiency at scale.

2

Thin-Film Solar Cell-Based Hydrogen Modules:

●Development of a Transformative Hydrogen Module Design: Successfully developed a hydrogen module design that adapts a commercial
thin-film photovoltaic (PV) module into a water-splitting hydrogen panel without altering the existing manufacturing process. This innovation
means standard PV production lines can manufacture