Hydrogen Peroxide 34% is composed of 34% hydrogen peroxide (H2O2) and 66% water (H2O). Technical grade hydrogen peroxide 34% is a clear, colorless liquid with no added stabilizers. Hydrogen peroxide is a versatile product with many applications and uses. Hydrogen peroxide breaks down into oxygen and water leaving no toxic residues. Use as a water conditioner to remove chlorine and add essential oxygen to your reservoir.