HyperSolar sees market opportunity for fuel cell vehicles with Toyota FCV

SANTA BARBARA, USA: HyperSolar Inc., the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, commented today on the recent debut of the 2015 Toyota FCV, a sedan which runs on hydrogen power, and is expected to reach dealerships in the middle of next year.

The vehicle, chronicled in a recent USA Today story, is expected to possess an approximate 300-mile range, and cost around $50-$60 to refuel. The highly anticipated automobile will join other hydrogen-powered vehicles including the Hyundai Tucson Fuel Cell and Honda FCX Clarity, as auto manufacturers continue to develop fuel cell powered vehicles.

Toyota also commented on the scalability of hydrogen fuel cell technologies, citing the need for large vehicles such as buses and trucking fleets to become more energy efficient.

The product rollouts are rapidly growing, as manufacturers seek to leverage market opportunities, such as in the state of California where approximately 50 stations are expected to be operating by the end of 2016. Toyota highlighted the importance of fueling infrastructure and production, as a spokesperson for the company referenced the state's approximately $200 million in funding from the California Energy Commission, as well as Toyota's "undisclosed investment in hydrogen producer FirstElement Fuel."

This expansion of fueling stations has increased the need for actual hydrogen fuel production, for which HyperSolar seeks to apply its hydrogen fuel produced from renewable resources such as wind or solar, known as "green hydrogen," as opposed to "brown hydrogen" produced from natural gas, a fossil fuel.

The market for renewable hydrogen production is anticipated to grow as according to a 2014 Union of Concerned Scientists article at least 33 percent of the hydrogen provided at a company's California filling stations must come from renewable sources to meet the standard.