Newhydrogen, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 17, 2021 at 03:00 pm EDT
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NewHydrogen, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced operating loss was USD 15.018 million compared to USD 163,530 a year ago. Net income was USD 50.810 million compared to net loss of USD 7.065 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
NewHydrogen, Inc. is a developer of clean energy technologies. The Company is developing ThermoLoop a technology that uses clean energy and water to produce the green hydrogen. The Company is focused on developing technologies to reduce or replace rare earth materials with inexpensive earth-abundant materials in electrolyzers to help usher in a green hydrogen economy. The ThermoLoop is a low-cost thermochemical process to split water using inexpensive heat, instead of expensive electricity. This technology water as a feedstock and reduces the cost of hydrogen production by eliminating electricity used in existing electrolyzers. Its green technology applications include the green electric grid, fuel cell electric vehicles (FCEV), battery electric vehicles (BEV), hydrogen fueling stations, lower carbon gas infrastructure and air taxis.
NEWHYDROGEN, INC. 
