DiagnaMed and EIREX Collaborate to Develop and Commercialize Novel Modular Technology Producing Hydrogen from Water

TORONTO, Nov. 14, 2024 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a life sciences company focused on molecular hydrogen and AI diagnostics, is pleased to announce it has entered into a collaboration agreement with EIREX, a hydrogen technology company, for the development and commercialization of EIREX’s novel modular carbon-free technology that extracts hydrogen from water, addressing current challenges in hydrogen production via electrolysis. This partnership marks a significant step in advancing sustainable hydrogen solutions.

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Fabio Chianelli, CEO of DiagnaMed, commented, “We are excited to evolve our business in developing novel methods of producing hydrogen for industrial use and medical applications for treating a variety of diseases and disorders. DiagnaMed aims to be a leader in providing molecular hydrogen, and our collaboration with EIREX provides a foundation for reaching this goal.”

Hydrogen produced by electrolysis has an industry target of reaching a cost of $2 per kilogram by 2030. The EIREX hydrogen technology aims to surpass this target, with its commercial pilot prototype demonstrating baseline production costs of $0.25 per kilogram and $0.10 per kilogram for commercial units. EIREX has developed a prototype and is prepared to produce its commercial pilot prototype. A showcase of their research work can be found [here](#).

EIREX Technology vs. Electrolysis in Hydrogen Production

Hydrogen is widely recognized as a pollution-free industrial fuel. The global hydrogen generation market size was estimated at USD 170.14 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2030. However, current production costs limit its broader adoption in settings like industrial plants, hospitals, medical centers, and for various medical treatments. Currently, 96% of hydrogen is derived from fossil fuels, with water electrolysis contributing only 4%. There is an unmet need for efficient, low-cost hydrogen technology, and EIREX’s approach aims to fill this gap.

Advancing Hydrogen Technology for Broader Applications

The collaboration between DiagnaMed and EIREX will focus on the commercial pilot prototype's development. DiagnaMed will also seek partnerships with life sciences companies, hospitals, and medical centers that can benefit from an on-site hydrogen source for operations, energy backup, and medical treatments. Molecular hydrogen has shown antioxidant, anti-inflammatory, and neuroprotective effects and could assist in managing chronic diseases by reducing oxidative stress and inflammatory pathways. With high cellular bioavailability, molecular hydrogen holds potential for treating neurodegenerative disorders, mental health conditions, diabetes, cancer, rheumatoid arthritis, and inflammatory muscular and organ-specific diseases.

About EIREX

EIREX is a pioneering company at the forefront of clean energy innovation, specializing in sustainable hydrogen production. Using proprietary cavitation technology, EIREX provides a cost-effective, efficient, and environmentally friendly approach to extracting hydrogen from water. Focused on sustainability and operational efficiency, EIREX is positioned to lead the transition toward a low-carbon future, delivering accessible green hydrogen as a viable energy solution. Visit EIREX for more information.

About DiagnaMed

DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) is a life sciences company dedicated to molecular hydrogen and AI diagnostics for brain health. DiagnaMed explores the medical use of hydrogen for brain health conditions, including neurological and mental health disorders. Additionally, the Company offers BRAIN AGE® Brain Health AI Platform, an innovative consumer brain health AI solution that estimates brain age and provides a brain health score. Visit DiagnaMed.com for more information.