Now Publicly Available
- Stock Symbol: NEWH
Having recently served in a prominent role for a large investor-owned electric utility, Hall brings operations and communications experience needed to help the company scale
SANTA CLARITA, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTC: BSRC), a developer of clean energy technologies, today announced that Spencer Hall will serve as chief operating officer and member of the company’s board of directors, effective immediately. Hall is a former spokesperson for PacifiCorp, a large investor-owned electric utility serving customers in six western states.
In this capacity, Hall will lead BioSolar’s operations while representing the company’s mission and technologies to investors, media, public, and potential partners. Hall brings to BioSolar extensive experience and knowledge gained from working alongside conventional and renewable energy infrastructure companies that serve the electric utility industry.
Hall has held senior management positions over the course of his career including director of communications for PacifiCorp, a Berkshire Hathaway Energy-owned electric utility serving nearly two million customers across Oregon, California, Washington, Utah, Idaho and Wyoming. Prior to his role at PacifiCorp, he served as vice president of digital platforms for the Utah Jazz (Larry H. Miller Sports & Entertainment) and as news director of KSL.com, the largest news outlet in the Intermountain West. Hall holds a Master of Science in Instructional Design and Technology from Utah State University and a Bachelor of Arts in Visual Art from Brigham Young University.
“We are excited to welcome Spencer to BioSolar, and expect that he will immediately strengthen our management team,” said Dr. David Lee, CEO of BioSolar. “Spencer’s vantage point coming from a utility that is actively pursuing and investing in a renewable energy future is one we believe will provide valuable insights as BioSolar progresses to meet its corporate objectives.”
BioSolar is currently funding a sponsored research program at the Department of Materials Science and Engineering at the University of California, Los Angeles (UCLA), aimed squarely at developing technologies to lower the cost of green hydrogen. The company recently announced that it is in the process of changing its corporate name to NewHydrogen, Inc. to better reflect its expanded focus on green hydrogen technologies.
NewHydrogen is developing ThermoLoop™ – a breakthrough technology that uses water
and heat rather than electricity to produce the world’s lowest cost green hydrogen. Hydrogen is the
cleanest and most abundant element in the universe, and we can’t live without it. Hydrogen is the
key ingredient in making fertilizers needed to grow food for the world. It is also used for
transportation, refining oil and making steel, glass, pharmaceuticals and more. Nearly all the
hydrogen today is made from hydrocarbons like coal, oil, and natural gas, which are dirty and
limited resources. Water, on the other hand, is an infinite and renewable worldwide resource.
Currently, the most common method of making green hydrogen is to split water into oxygen and
hydrogen with an electrolyzer using green electricity produced from solar or wind. However, green
electricity is and always will be very expensive. It currently accounts for 73% of the cost of green
hydrogen. By using heat directly, we can skip the expensive process of making electricity, and
fundamentally lower the cost of green hydrogen. Inexpensive heat can be obtained from concentrated
solar, geothermal, nuclear reactors and industrial waste heat for use in our novel low-cost
thermochemical water splitting process. Working with a world class research team at UC Santa
Barbara, our goal is to help usher in the green hydrogen economy that Goldman Sachs estimated to
have a future market value of $12 trillion.
Matters discussed in this press release contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar
expressions identify such forward-looking statements. Actual results, performance or achievements
could differ materially from those contemplated, expressed or implied by the forward-looking
statements contained herein. These forward-looking statements are based largely on the expectations
of the Company and are subject to a number of risks and uncertainties. These include, but are not
limited to, risks and uncertainties associated with: the impact of economic, competitive and other
factors affecting the Company and its operations, markets, the impact on the national and local
economies resulting from terrorist actions, the impact of public health epidemics on the global
economy and other factors detailed in reports filed by the Company with the United States Securities
and Exchange Commission.
Any forward-looking statement made by us in this press release is based only on information
currently available to us and speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information, future developments or otherwise.