DiagnaMed and EIREX Revolutionize Hydrogen Production from Water
Key Ideas
- New technology targets hydrogen production at $0.10/kg, a significant reduction from current costs.
- Global hydrogen market, valued at $170.14B, presents a lucrative opportunity with a 9.3% CAGR.
- Novel modular technology by EIREX could potentially address current electrolysis limitations.
- Despite being in the prototype phase, the technology shows promise in potentially revolutionizing hydrogen production.
DiagnaMed Holdings Corp. and EIREX have joined forces to develop and commercialize a groundbreaking technology for extracting hydrogen from water at a fraction of the current cost. The innovative EIREX technology is designed to produce hydrogen at $0.25 per kilogram for pilot prototypes and $0.10 per kilogram for commercial units, aiming to undercut the industry's 2030 target significantly. Valued at $170.14 billion in 2023, the global hydrogen market is set to expand at a 9.3% compound annual growth rate until 2030, offering a vast market potential. The collaboration focuses on creating commercial pilot prototypes and establishing partnerships with healthcare facilities for operational and medical applications. While the technology is still in its prototype stage, it shows promise in potentially revolutionizing hydrogen production by overcoming existing limitations and cost projections.