NewHydrogen Inc (OTC: NEWH) is a pre-revenue green hydrogen technology development company that is researching a thermochemical water-splitting process to produce hydrogen without electrolysis. The company has generated no significant revenue since inception and carries an accumulated deficit of $180,184,490 as of December 31, 2025. Its sole commercial-stage activity is the development of ThermoLoop, a proprietary process that uses heat and water rather than electricity to produce hydrogen. Research is conducted under a sponsored research agreement with the University of California, Los Angeles, executed December 14, 2020 and subsequently amended in October 2022. The company was incorporated in Nevada on April 24, 2006 as BioSolar Labs, Inc., renamed BioSolar Inc. in June 2006, and renamed NewHydrogen Inc. on April 30, 2021 after pivoting away from battery anode materials. As of March 30, 2026, the company had two full-time employees. The auditors have issued a going-concern qualification in the 10-K filed March 30, 2026.

Revenue model

NewHydrogen has no revenue model in operation. The company has never realized revenues and funds operations through equity financing, including issuances of common stock. As of December 31, 2025, the accumulated deficit was $180,184,490.

Products and services

ThermoLoop is the company's sole product in development. It is a thermochemical redox process designed to split water into hydrogen and oxygen using heat rather than electricity, targeting lower production costs than alkaline or proton exchange membrane electrolysis. No commercial product has been brought to market as of the 10-K filed March 30, 2026.

Customers and end markets

No customers exist as of the 10-K filed March 30, 2026. Target end markets described in the filing include fertilizer production, transportation, steel, glass, pharmaceuticals, and oil refining, all reliant on hydrogen as an input. No customer contracts or letters of intent are disclosed.

Value-chain role

NewHydrogen occupies an early-stage research and development role in the green hydrogen supply chain. It is developing upstream hydrogen production technology intended to reduce the cost of hydrogen generation. It does not produce, distribute, or sell hydrogen.

Geographic exposure

Principal executive offices are located in Santa Clarita, California. Research collaboration is with the University of California, Los Angeles. No international operations are disclosed in the 10-K filed March 30, 2026.

Source: SEC 10-K, filed 2026-03-30

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