OTC: NEWH

Industry
Overview

Hydrogen
is the most abundant and prevalent clean energy in the universe.

●
73%
of the Sun is made up of hydrogen.

●
On
a weight basis, hydrogen (142 MJ/kg) contains 3X as much energy as gasoline (46 MJ/kg), and 200X as much energy as lithium-ion batteries
(0.6 MJ/kg).

●
It
can be used in fuel cells to power electric vehicles or cities.

●
It
can be combusted in gas turbines or internal combustion engines for power generation.

●
It
is a zero-emission clean fuel and produces only water vapor when used.

●
It
is the main ingredient in fertilizers that feed our hungry world.

Hydrogen
does not exist in its pure form, and must be extracted. According to a 2022 report from the U.S. Department of Energy, more than 95%
of hydrogen in the world are made by steam reforming of natural gas (“Grey Hydrogen”) or coal gasification (“Brown
Hydrogen”). Both sources of hydrogen are basically different forms of dirty, carbon heavy, and non-renewable fossil fuels. This
does nothing to help fight climate change or lead to renewable energy and a sustainable planet.

According
to a 2023 research report from Vantage Market Research, green hydrogen has an annual market size of more than $374 million in 2021, and
is expected to hit $8.7 billion in 2028. Developing cost-competitive Green Hydrogen made from renewable resources such as solar, wind
and water can significantly expand the market for hydrogen. At this time, the electrolyzer technology represents the most well understood
way forward.

Solar
or Wind Energy + Water + Electrolyzers = Green Hydrogen

Abundant
sources of Green Hydrogen can power a clean energy world of fast charging fuel cell electric vehicles, light up our homes, make our fertilizers
and ultimately replace many forms of fossil fuels.

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An
overwhelming amount of scientific evidence shows that carbon emissions from fossil fuels have contributed to increasing global climate
change. Policymakers around the world have accelerated programs to enable the development and adoption of renewable energy. The U.S has
been slow to adopt such programs but is quickly becoming a formidable force. According to the World Resources Institute, more than 14
U.S. states have legislative mandates requiring 100% renewable electricity, some as early as 2040. Both the U.K. and European Union are
targeting net zero greenhouse gas emissions by 2050.

With
this global backdrop and concerted actions toward climate policies and clean energy, we believe the Green Hydrogen revolution is ready
to take off. The Sun does not always shine, and the wind does not always blow. Therefore, green energy from solar and wind power is inherently
intermittent and unreliable as a primary source of power. However, by converting that green electricity into Green Hydrogen, it can be
used anywhere and anytime for electricity, chemicals, heating and all necessities of life.

Because
of the versatility of hydrogen, we believe Green Hydrogen has the potential to fundamentally improve the world economy and usher in a
new era of economic prosperity, sustainability, and energy independence to those with access to solar, wind and water which describes
most of the entire world.

Electrolyzer
Technology

For
more than 200 years, scientists have known how to split water into hydrogen (H2) and oxygen (O2). By placing two
metal electrodes into a jar of salted water (electrolytic solution) and applying an electrical voltage between them, H2 and
O2 will bubble up at the separate electrodes. This process is called electrolysis and the device is called an electrolyzer.
If the source of electricity is renewable such as solar or wind, then the resulting hydrogen is a zero-greenhouse gas renewable resource
- Green Hydrogen.

There
are two primary types of commercial electrolyzers. The original alkaline electrolyzer and the modern proton exchange membrane (PEM) electrolyzer.
However, neither technology can currently produce Green Hydrogen at scale that is cost competitive with Grey or Brown Hydrogen sourced
from fossil fuels. PEM electrolysis has the advantage of higher efficiency and quickly reacting to fluctuating input energy, which is
ideally matched to the fluctuating nature of solar and wind energy. Its smaller footprint also makes it ideal for distributed systems,
which is how most renewable energy systems are implemented.

PEM
electrolyzers are expensive because they rely on rare materials such as platinum and iridium - which is akin to stardust found only in
asteroids - as chemical catalysts for the water-splitting reactions. According to National Renewable Energy Laboratory (NREL), these
materials account for nearly 50% of the capital cost of PEM electrolyzers. Additionally, the cost of electricity contributes to over
70% of hydrogen production costs.

The
Problem with Electrolyzer Technology

For
more than 100 years, the gold standard for producing green hydrogen is through electrolysis, using electrolyzers with solar or wind energy
to split water into hydrogen and oxygen. However, electrolyzers are very expensive and their efficiencies are fundamentally limited by
the natural laws of thermodynamics. For example, the theoretical voltage required to split water is 1.23V, but in real life, the voltage
required in an industrial electrolyzer is closer to 2V, sometimes more. This 60% or more of additional energy is wasted and not put into
hydrogen molecules.

The
electrolyzer was first invented in 1789 and its basic chemistry and architecture hasn’t changed much since then, despite many materials
and manufacturing advancements. Nearly all electrolyzers suffer from the following disadvantages:

●
Overvoltage
- The need for much higher voltage, or input energy, to drive meaningful amounts of hydrogen production.

●
Precious
Metals - Catalysts used for water splitting are often precious metals such as platinum and iridium, a material so rare it can only
be found in asteroids, and they all corrode over time.

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●
Membranes
- Degradable membranes are needed to separate hydrogen (H2) and oxygen(O2) bubbles so they don’t re-combine
to make water (H2O).

●
Distilled
Water - Precious metals and membranes are highly susceptible to fouling, therefore expensively distilled pure water is required.

●
2D
Reaction Surfaces - Water splitting reactions can only happen on the surfaces of 2-dimentional electrode plates. Therefore, much
of the water is literally waiting around to be zapped, resulting in low efficiency and low throughput.

According
to the 2022 Oxford Institute for Energy Studies, The biggest problem with electrolyzers is the use of electricity, which accounts for
nearly 73% of the cost of Hydrogen production.

The
Solution – Using Heat Instead of Electricity is a Better Way

Cheap,
widely available green hydrogen could revolutionize global energy systems and presents a $12 trillion market opportunity. NewHydrogen
aims to play a leading role in capturing a share of this enormous potential market by developing a whole new way to reduce the cost of
green hydrogen.”

NewHydrogen
is developing ThermoLoopTM, a novel low-cost thermochemical process to split water using inexpensive heat, instead of expensive
electricity. Previous thermochemical approaches use extremely hard to manage temperatures such as 2,000°C, or an inefficient series
of step reactions at different temperatures to split water into oxygen and hydrogen. Using heat to split water isn’t new, but our
goal with ThermoLoopTM is to develop an elegant and highly efficient chemical looping redox process operating at normal industrial
temperatures ranges (below 1000°C).

One
step oxidizes (changes) the material to facilitate hydrogen production, the other step(s) reduce (recover) the material and produce oxygen.
These steps operate in a continuous process loop that splits an incoming supply of steam (water). This type of redox chemistry is simple
on paper but hard in practice. The magic lies in the redox properties of certain multiphase materials, and this has not been done before
and represents an exciting development that may enable substantial cost reduction by skipping expensive electricity. Inexpensive heat
can be obtained from concentrated solar, geothermal, nuclear reactors or industrial waste heat.”

Applications
of Green Hydrogen

Unlike
lithium-ion where it is simply a battery technology, Green Hydrogen is an economy. There are many applications for Green Hydrogen, some
with larger markets than others. Here are just a few.

(Source:
U.S. Department of Energy)

●
Green
Electric Grid - The electric grid is finicky, sometimes it needs a lot of electricity sometimes it does not. Unused electricity
from solar and wind farms are wasted if it is not used immediately. The Sun does not always shine, and the wind does not always blow,
and this makes solar and wind sourced electricity unreliable. One solution is to use an electrolyzer system to convert the excess
solar/wind electricity into hydrogen and store it in inexpensive nearby underground caverns. When electricity demand spikes, the
hydrogen can be converted back into electricity through a fuel cell. We believe, this is a very scalable solution as opposed to miles
and miles of very expensive grid-scale battery systems. In fact, the Advanced Clean Energy Storage project in Utah aims to do just
this by building the world’s largest storage facility for 1,000 megawatts of clean power, partly by putting hydrogen into underground
salt caverns.

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●
Fuel
Cell Electric Vehicles (FCEV) - Perhaps the most exciting application of hydrogen is the direct use in fuel cell electric vehicles.
A hydrogen tank in a passenger car can be filled in under five minutes. The only tailpipe emission is water. According to a recent
article by Hydrogen Fuel News, hydrogen car market is expected to take off by 2028. Until now, the zero-emission passenger vehicle
market has been dominated by battery electric technology by a wide margin. The falling price of green hydrogen and energy security
issues in terms of electricity in many areas of the world, however, are causing automakers, governments and consumers to look more
favorably at hydrogen than had previously been the case.

●
Battery
Electric Vehicles (BEV) -We believe BEV and FCEV can coexist just like diesel and gasoline cars coexist today. BEVs running on
electricity generated through the Green Electric Grid is a beneficiary and indirect user of hydrogen technology. The Green Electric
Grid is the network of solar, wind and other alternative energy generation and distribution.

●
Hydrogen
Fueling Stations - We believe electrolyzers are well suited and scalable for distributed onsite Green Hydrogen generation in
fueling station applications. With green electricity from a nearby solar array or renewable electric grid, Green Hydrogen can be
produced anywhere and anytime. This distributed model of hydrogen production eliminates the need for expensive transportation from
a centralized facility.

●
Lower
Carbon Gas Infrastructure - Green Hydrogen can serve as a steppingstone to a lower carbon footprint natural gas supply. Southern
California Gas, and others, have demonstrated that the existing natural gas pipelines that supply gas to our cooking stoves and homes
can safely contain 5-10% hydrogen without any modifications. This means that an electrolyzer system near a natural gas plant can
inject Green Hydrogen directly into the existing gas infrastructure, lowering the carbon footprint of our meals and our warm homes.

●
Air
Taxis of the Future - Hydrogen has 200 times the theoretical energy of lithium-ion batteries per kilogram. We believe hydrogen
is the obvious choice because of its lighter weight, in the emerging but potentially revolutionary air mobility market of small electric
aircrafts, such as the Skai air tax drone. According to Skai, battery-powered air mobility vehicles are projected to have flight
durations of less than half an hour before needing to recharge - Skai’s hydrogen fuel cells give them the ability to fly continuously
for up to 4 hours or more with higher capacity auxiliary tanks.

Research
and Development

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.

Marketing
Strategy

We
will begin marketing our ThermoLoopTM technology as soon as a tangible form of quantitative performance demonstration becomes
available. Our marketing plan includes engaging with manufacturers of existing thermochemical hydrogen production component and delivery
infrastructure, as well as identifying and developing relationships with potential licensing partners with large scale hydrogen generation
and supply logistics all over the world.

We
are currently outsourcing our promotion efforts to a public relations firm that is assisting us with comprehensive advertising and promotion
of the Company.

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Backlog
of Orders

We
do not have any backlog of orders.

Government
Contracts

We
do not have any government contracts at this time.

Compliance
with Environmental Laws and Regulations

Our
operations are subject to local, state and federal laws and regulations governing environmental quality and pollution control. To date,
our compliance with these regulations has had no material effect on our operations, capital, earnings, or competitive position, and the
cost of such compliance has not been material. We are unable to assess or predict at this time what effect additional regulations or
legislation could have on our activities.

Manufacturing
and Distribution

On
February 2, 2022, we entered into a Manufacturing Supply Agreement with Verde LLC providing for the future commercial production of hydrogen
generation plants. The term of the agreement ended on December 31, 2024.

We
may enter into additional agreements for the manufacture and distribution of our own technology products in the future.

Intellectual
Property

On
May 19, 2011, we filed a U.S. patent to protect the intellectual property rights for “Photovoltaic Module Backsheet, Materials
for Use in Module Backsheet and Process for Making the Same,” application number 13/093,549. The inventor listed on the patent
application is Stanley Levy, our former Chief Technology Officer. The Company is listed as assignee. This patent was issued on July 14,
2015. Our BioBacksheetR is currently available for licensing only.

On
March 26, 2018, North Carolina Agricultural and Technical State University filed a U.S. patent application U.S. Serial No. 62/473,772
titled “Prelithiated Silicon Particles for Lithium Ion Batteries”, and we currently have option to negotiate for a non-exclusive
License Agreement for the use of the technology. The patent was issued on December 29, 2020.

On
March 5, 2025, we jointly with UC Santa Barbara filed a U.S. patent to protect intellectual property rights for “Coupled Multi-phase
Oxidation-Reduction for Production of Chemicals, application number 63/767,269. The inventors listed on the patent are Eric W.
McFarland (NewHydrogen Chief Technology Officer), Justin Marlowe (UCSB Research Scientist), Yikyeom Kim (UCSB Research Scientist), Ryan
Patrick (NewHydrogen Senior Chemical Engineer) and Phil Christopher (UCSB Principal Investigator). We currently have an option to negotiate
for an exclusive license agreement for the use of the technology.

On
October 16, 2025, we jointly with UC Santa Barbara filed a U.S. patent to protect the intellectual property rights for “Improved
Materials and methods for Production of chemicals by Thermochemical Looping”, application number 63/900,606. The inventors listed
on the patent are Eric W. McFarland (NewHydrogen Chief Technology Officer), Justin Marlowe (UCSB Research Scientist), Yikyeom Kim (UCSB
Research Scientist), Ryan Patrick (NewHydrogen Senior Chemical Engineer) and Phil Christopher (UCSB Principal Investigator). We currently
have an option to negotiate for an exclusive license agreement for the use of the technology.

Competition

There
are a number of companies developing green hydrogen technologies including ITM Power, Clean Power Hydrogen Group, Sunfire, Greenway Energy,
Amalyst, and AFC Energy. We expect a high level of competition, but the market opportunity is very large. Once we implement the prototype
demonstration of our technology for commercial application, we plan on seeking partnership or licensing arrangements for our green hydrogen
technology with a select group of equipment manufacturers of green hydrogen.

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Technology
Development Partners

On
September 28, 2017, the Company entered into an Exclusive License Agreement (the “License Agreement”) with the North Carolina
A&T State University related to the use of the University’s intellectual property in the Company’s business of developing,
producing and marketing lithium-ion batteries. Within thirty (30) days after entering into the License Agreement, the Company paid to
the University a one-time, non-refundable license fee in the sum of $15,000. Pursuant to the terms of the License Agreement, the Company
is obligated to pay all costs of preparing, filing, prosecution, issuance and maintenance related to the patents underlying the intellectual
property licensed by the Company. In addition, the Company is obligated to make certain annual royalty payments and sub-licensing fees.
On September 28, 2020, the Company again paid to the University annual non-refundable licensee fee of $15,000. On September 28, 2021,
the Company chose not to renew the exclusive licensing arrangement. The Company retains option for a nonexclusive license to use the
technology.

On
June 14, 2018, the Company executed a joint development agreement with Silicio Ferrosolar SLU, a subsidiary of Ferroglobe, PLC (NASDAQ:GSM),
for collaborative efforts to assess, develop, and/or market silicon anode materials for high power, high energy lithium ion batteries
by integrating BioSolar technology and Ferroglobe silicon materials. The agreement expired on June 14, 2022 pursuant to the original
terms of the agreement.

On
March 6, 2020, the Company executed a joint development agreement with Soelect, Inc, for collaborative efforts to assess, develop, and/or
market a processing technology to produce silicon oxide anode materials for electric vehicle lithium ion batteries. The Company ended
the joint development relationship in June 2021 and has pivoted away from pursuing battery technology to focus on pursuing Green Hydrogen
Opportunities. On May 27, 2021, the Company terminated the joint development agreement.

On
December 14, 2020, the Company executed a sponsored research agreement with the University of California, Los Angeles, for collaborative
efforts to discover and develop efficient and stable earth-abundant material-based catalysts for hydrogen production through water electrolysis.
On October 30, 2022, the Company entered into Sponsored Research Agreement Third Amendment (the “Amendment Agreement”). Pursuant
to the Amendment Agreement, the Sponsored Research Agreement was further amended to among other things (i) extend the term of the Sponsored
Research Agreement to December 31, 2025; (ii) increase the consideration payable to the University under the Sponsored Research Agreement
to $2,797,368; (iv) amend the scope of work under the Sponsored Research Agreement; and (iii) update the schedule of payments to the
University. On December 1, 2023, the Company exercised its option to conclude its sponsored research that was being conducted pursuant
to the Sponsored Research Agreement with the University of California Los Angeles (UCLA), as amended (the “Agreement”). Sponsored
research under the Agreement, which resulted in successful development of non-precious metal-based oxygen evolution reaction (OER) catalyst
and hydrogen evolution reaction (HER) catalyst that uses an order of magnitude less platinum, concluded effective December 31, 2023.
In the future, the Company may choose to negotiate with UCLA to license intellectual property arising from the sponsored research under
the Agreement. The Company made the decision to conclude the Agreement to fully focus its research efforts and financial resources on
the development of its ThermoLoopTM technology at UC Santa Barbara (UCSB).

On
June 28, 2023, the Company entered into a Research Agreement (the “Agreement”) with The Regents of the University of California
(the “University”), on behalf of its Santa Barbara Campus. Pursuant to the Agreement, the University will perform certain
research with respect to Thermochemical Water Splitting for Hydrogen Production from Water. The Agreement provides that the research
will be completed under the direction of Professors Phillip Christopher and Eric McFarland, who will serve as principal Investigators.
The Agreement also sets forth the rights to any data or information developed by the University under the Agreement, as well as the ownership
of any patentable developments or discoveries arising from the Agreement. On November 17, 2025, the Company and the Regents of the University
of California amended the Research Agreement to increase consideration payable to the University to $1,690,038. The effective date of
the Amendment is November 17, 2025 and the term of the Agreement runs through November 30, 2026.

To
assist us in the development of our technology, we intend to seek out and enter into technology development agreements with other entities
with testing and materials expertise.

Corporate
Information and History

We
were incorporated in the State of Nevada on April 24, 2006, as BioSolar Labs, Inc. Our name was changed to BioSolar, Inc. on June 8,
2006, and to NewHydrogen, Inc. on April 30, 2021.

Our
principal executive offices are located at 27936 Vista Canyon Blvd, Suite 202, Santa Clarita, California 91387, and our telephone number
is (661) 251-0001.

Our
fiscal year end is December 31.

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Available
Information

We
file annual, quarterly, and current reports, proxy statements and other information with the U.S. Securities Exchange Commission (the
“SEC”). These filings are available to the public on the Internet at the SEC’s website at http://www.sec.gov.

We
maintain our corporate website at http://newhydrogen.com (this website address is not intended to function as a hyperlink and
the information contained on our website is not intended to be a part of this report).

Human
Capital Resources

As
of March 30, 2026 we had two (2) full time employees. We have not experienced any work stoppages and we consider relations with our employees
to be good.