DiagnaMed Partners with Texas Tech University to Pioneer Hydrogen Innovation

TORONTO, Jan. 07, 2025 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a leading innovator in hydrogen-producing technologies and artificial intelligence (AI) medical applications, proudly announces it has entered into a limited license and option agreement with the Texas Tech University System to commercialize a ground-breaking technology (WO2023044149A1 that produces hydrogen directly from petroleum reservoirs and natural hydrogen fields.

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This proprietary technology, developed by Dr. Qingwang Yuan of the HOPE Group in Texas Tech University’s Edward E. Whitacre, Jr. College of Engineering, integrates hydraulic fracturing with electromagnetic wave heating to generate hydrogen from light oil, gas, and shale reservoirs, as well as a potential application for stimulating geologic hydrogen from ultramafic rock formation. With potential hydrogen production costs as low as $0.86 per kilogram, the method aligns perfectly with the U.S. Department of Energy's "Hydrogen Energy Earthshot" initiative to achieve $1/kg hydrogen production by 2031.

Fabio Chianelli, Chairman and CEO of DiagnaMed, commented: "This collaboration marks a significant milestone in our mission to drive innovation in hydrogen production. By transforming over 25,000 active oil and gas fields globally and repurposing 2-3 million abandoned wells in the United States, this technology not only meets global clean energy demands but also strengthens our commitment to a sustainable future. DiagnaMed is dedicated to enabling petroleum companies and natural hydrogen explorers to unlock untapped potential, reducing greenhouse gas emissions, and delivering cost-effective, carbon-zero hydrogen."

A Transformative Opportunity for the Energy Sector

This first-of-its-kind technology redefines hydrogen production by speeding up hydrocarbon cracking, enhancing energy efficiency, and significantly reducing costs and carbon footprints. Backed by a Techno-Economic Analysis by Argonne National Laboratory, it represents a sustainable alternative to conventional methods. Reusing existing oil and gas infrastructure further reduces costs, offering a competitive advantage to hydrogen producers.

As global hydrogen demand surges, with the market projected to grow from USD 262.13 billion in 2024 to USD 556.56 billion by 2034, DiagnaMed’s commercialization initiatives with Texas Tech’s pioneering technology positions it at the forefront of the clean energy revolution. Together, we are driving the transformation of the energy landscape and supporting the transition to a low-carbon economy.

About DiagnaMed

DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) is a leading innovator in hydrogen-producing technologies and artificial intelligence (AI) medical applications. Visit DiagnaMed.com.