delerious1
1年前
NEWS:...TSXV:NXH ... OTC:NXHSF...Next Hydrogen receives its ISO 9001 and ISO 45001 certifications
MISSISSAUGA, Ontario, March 04, 2025 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (“Next Hydrogen“ or the “Company”) ( TSXV:NXH , OTC:NXHSF ) is pleased to announce that it has received official ISO 9001-2015 and ISO 45001-2018 certification notices for its 6610 Edwards Blvd site in Mississauga, Canada. These certifications demonstrate and certify Next Hydrogen’s standardized quality systems, health and safety management systems, supplier selection processes, and continuous improvement processes.
With these certifications Next Hydrogen has demonstrated that we have a robust operating system that can be scaled quickly to effectively support our growing customer base. Team Next Hydrogen is poised to exceed our customers’ expectations and become the supplier of choice for green hydrogen electrolysis systems. In 2024, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) provided a $2 million investment to Next Hydrogen which was critical in allowing Next Hydrogen to further enhance its quality standards and processes to help secure these certifications.
“These important certifications highlight our team’s continued commitment and dedication to build our brand steeped in innovation, quality, safety and reliability”, said Raveel Afzaal, President & CEO. “We are particularly grateful to FedDev Ontario for their financial support to achieve this critical milestone as part of our scale-up activities.”
“Congratulations to Next Hydrogen on this impressive milestone. Investments in clean technology companies, like Next Hydrogen, bolster Canada's position as a global leader in green manufacturing and support our carbon reduction objectives,” said the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario.
About Next Hydrogen Solutions Inc.
Founded in 2007, Next Hydrogen Solutions Inc. is a designer and manufacturer of water electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as a green energy source or a green industrial feedstock. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors. For further information: www.nexthydrogen.com
About FedDev Ontario
For 15 years, the Government of Canada, through FedDev Ontario , has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s X , Facebook , Instagram and LinkedIn .
Contact Information
Raveel Afzaal , President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
www.nexthydrogen.com
Cindy Caturao
Press Secretary
Office of the Minister of Democratic Institutions and Minister responsible FedDev Ontario
Cindy.Caturao@feddevontario.gc.ca
delerious1
2年前
NEWS: TSXV: NXH, OTC: NXHSF Next Hydrogen Solutions Inc. Announces Closing of Private Placement of Unsecured Convertible Debentures
MISSISSAUGA, Ontario, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (TSXV: NXH, OTC: NXHSF) (“ Next Hydrogen ” or the “ Company ”), announced today that it has completed a closing of its previously announced offering (the “ Offering ”), on a private placement basis, of 10% unsecured convertible debentures of the Company (the " Debentures "). Pursuant to the Offering, the Company has issued and sold 2,725 Debentures for aggregate gross proceeds to the Company of C$2,725,000.
“We are grateful to our shareholders for driving a successful outcome for this strategic offering,” said Raveel Afzaal, President & CEO. “This offering coupled with (1) $4.8M in approved government grants and $1.7M in advanced discussions and (2) up to $5M working capital debt financing Letter of Interest from EDC provides us with good visibility to meet our capital requirements for 2025. In addition, we are in advanced strategic discussions which include technology licensing opportunities in attractive geographies which have the potential to capitalize us for 2026 and beyond.”
The Debentures shall mature on the earlier of the following to occur: (i) 24 months from the date of issuance; (ii) on (x) a sale, merger, arrangement, amalgamation, business combination, or other transaction or series of transactions which results in a person other than the shareholders of the Company immediately prior to such transaction holding more than 50% of the votes attributable to the shares of the surviving issuer or acquiring corporation; or (y) the sale, lease, transfer, exclusive license, or other disposition of all of substantially all of the assets of the Company, unless such sale, lease, transfer, license or disposition is to a wholly-owned subsidiary of the Company; or (iii) on any demand for payment as a result of an event of default under the terms of the Debenture.
The Debentures shall bear interest at a rate of 10.0% per annum from the date of issue, calculated and paid in cash on a semi-annual basis. The holders of the Debentures may elect to convert the principal and all accrued, but unpaid interest under the Debenture into that amount of common shares of the Company (“ Common Shares ”), computed on the basis of the outstanding principal and all accrued, but unpaid interest under the Debenture divided by the conversion price, which shall mean: (i) in respect of the principal amount of the Debenture outstanding, $1.00 per Common Share; and (ii) in respect of any interest accrued but unpaid thereon, $1.00 per Common Share or the last closing price of the Common Shares listed for trading on the TSX Venture Exchange (the “ TSXV ”) before the date of conversion, whichever is greater. Any conversion of interest accrued but unpaid thereon into Common Shares will be subject to the prior approval of the TSXV.
Mr. MacKenzie, a control person and director of the Company, has subscribed for $500,000 principal amount of Debentures in the Offering. Mr. Guglielmin, a director and an insider of the Company, has subscribed for $50,000 principal amount of Debentures in the Offering. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”) contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.
The proceeds of the Offering will be used for working capital and for general corporate purposes.
The Company has not paid any finder’s fees in connection with the Offering.
The completion of the Offering remains subject to the final approval of the TSXV. All securities issued pursuant to the Offering are subject to a statutory four month hold period from their date of issuance.
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “ 1933 Act ”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
delerious1
2年前
TSXV:NXH, OTC:NXHSF Next Hydrogen Reports Q3 2024 Financial Results
MISSISSAUGA, Ontario, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen”) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to report its financial results for the third quarter ended September 30, 2024.
“Next Hydrogen delivered its second-generation system to a customer following an extended factory acceptance test. Further, it passed a key cell performance durability test for this product line which positions us well to deliver on our five demonstrations in 2025,” said Raveel Afzaal, President & CEO. “Next Hydrogen is focused on strengthening its balance sheet to deliver on its growing backlog through (1) $3M of convertible debt offering, (2) $4.6M of approved government grants with an additional $2M in advanced discussions, and (3) on-going discussions with financial institutions about non-dilutive financing options. Successful execution on these three initiatives will capitalize the company into 2026 with potential funding from strategic partners through technology licensing opportunities in certain geographies serving as upside.”
Q3 2024 Financial Highlights
Cash balance was $3.2M as of September 30, 2024, compared to $10.9M as of December 31, 2023.
Revenue for the nine-month period ended September 30, 2024 was $1.2M compared to $0.1M in the same period of the prior year.
Net loss and comprehensive loss for the nine-month period ended September 30, 2024 was $11.2M compared to $8.7M in the same period of the prior year.
Management is proud to highlight several recent milestones that demonstrate significant recent progress:
In November 2024, the Company announced a private placement offering (the “Offering”) of unsecured convertible debentures (each, a “Debenture”) consisting of up to $3M principal amount of Debentures. The closing of the Offering is expected to take place on November 29, 2024. Next Hydrogen intends to use the proceeds of the Offering to invest in its scale-up efforts and for general corporate purposes.
In November 2024, Next Hydrogen and Pratt & Whitney announced a collaboration to demonstrate the use of hydrogen in aircraft engines as an enabler for reducing CO2 emissions. This project is partially funded by Canada’s Initiative for Sustainable Aviation Technology (“INSAT”) and will accelerate the Company’s efforts towards high efficiency, low-cost electrolyzers which are needed for establishing hydrogen production infrastructure for aviation fuel. The Company will receive $2M from INSAT for the completion of Phase 1 over the remainder of this year and into 2025.
In October 2024, the Company successfully completed a durability test of its new second generation water electrolyzer technology (“GEN2”) electrolysis cells used in the efficient production of green hydrogen. The GEN2 cells will be deployed in Next Hydrogen electrolyzers at customer sites for commercial operation. Next Hydrogen previously reported that it has achieved its energy efficiency targets cell performance of 1.90 V/cell at 1 A/cm2 and 70°C for its GEN2 water electrolyzer technology which exceeded the reported US Department of Energy (“DOE”) technical targets status for energy efficiency. The GEN2 performance achievement has positioned the Company to being the industry leader in electrolysis cell performance.
In October 2024, Next Hydrogen welcomed Premier Doug Ford, Associate Minister Sam Oosterhoff, Minister Stephen Lecce, MPP Deepak Anand and MPP Rudy Cuzzetto to their manufacturing facility. This along with the visit from our Deputy Prime Minister (see below) demonstrates the strong alignment between the Company’s work and the national strategy for Canada to be a leader in green hydrogen production.
In September 2024, the Company successfully completed an extended Factory Acceptance Test for its second-generation system. The Company plans to commission the system at an external reference site for market demonstration in the coming months.
In August 2024, the Company was awarded a contract by the University of Minnesota (“UMN”) for its latest generation electrolysis technology to be installed at the UMN West Central Research and Outreach Center (“WCROC”). The WCROC project is supported by the U.S. Department of Energy’s Advanced Research Project Agency (“ARPA-E”) as well as other partners including RTI International (“RTI”) and will include technologies from Casale SA, RTI, UMN, Nutrien and Shell to demonstrate the production of ammonia from renewable energy targeting emerging energy markets and existing agricultural markets. Next Hydrogen will be supplying its latest third-generation Alkaline Water Electrolyzers featuring further advancements in energy efficiency, current density and operating pressure.
In May 2024 the Company was granted a repayable contribution of $2M from Federal Economic Development Agency for Southern Ontario for the fiscal years 2024 and 2025. This non-interest-bearing contribution is intended to support the Company’s growth initiatives aimed at commercialization and business development advancements. The Company continues to be in advanced discussions about additional government grants to help support its activities for 2024 and 2025.
In April 2024, Next Hydrogen welcomed Deputy Prime Minister Chrystia Freeland, Minister Kamal Khera and MP Peter Fonseca to their manufacturing facility to announce new investment tax credits which further supported the Canadian clean technology sector. Minister Freeland also stated publicly “Next Hydrogen in Mississauga is changing the game in renewable energy and clean hydrogen production!”
In November 2023, Next Hydrogen and General Electric Vernova (“GE Vernova”) signed a memorandum of understanding to integrate Next Hydrogen’s electrolysis technology with GE Vernova’s power systems offerings to produce green hydrogen. This collaborative effort will encompass installation, rigorous testing, and the seamless integration of a Next Hydrogen water electrolyzer with a power supply meticulously designed and fabricated by GE Vernova. This collaboration will further support Next Hydrogen’s commitment to pioneering innovative green hydrogen technologies, addressing climate change, and promoting global energy sustainability.
Following the successful completion of a pilot project, the Company received an order for a project involving a specialized nuclear application worth $7.7M. Under the agreement, Next Hydrogen will conduct design engineering (Phase 1) and subsequently provide the electrolyzer needed (Phase 2) for the project. A $5M purchase order has been received for Phase 1, with a potential follow-on order of $2.7M planned for Phase 2 with electrolyzer delivery expected to occur in 2025. To date, $3.8M of cash has been received, with the remainder $1.2M to be received.
Next Hydrogen and Casale SA (“Casale”) have signed a memorandum of understanding to develop green ammonia and methanol systems that integrate Next Hydrogen’s electrolysis technology and products. Under this agreement, the companies will bring together their collective experience and capabilities to accelerate and scale-up green ammonia and methanol plants connected to renewable energy sources. This collaboration provides a compelling pathway to producing clean, zero-emission ammonia and methanol from green renewable energy power sources. During 2023, Next Hydrogen received the first purchase order under this development agreement from Casale.
Next Hydrogen received $0.8M in research and development funding from the National Research Council of Canada Industrial Research Assistance Program (“NRCC IRAP”) toward the development and demonstration of the Company’s next generation products. This will further help the Company accelerate its product roadmap and its mission of driving large scale adoption of green hydrogen solutions to decarbonize the global economy.
The Company has been awarded $5.1M from Sustainable Development Technology Canada (“SDTC”) towards the development and demonstration of the Company’s next generation electrolysis technology. Further, Next Hydrogen is working with four blue-chip industry partners who are contributing a total of $1.2M as a combination of cash and in-kind contributions towards its product development roadmap. These partners include end-users, suppliers and channel partners to ensure strong product-market fit and positions the Company for high quality revenue generation opportunities. This project, with a budget of over $12M will run to early 2025, resulting in the launch of a GEN2 product line with cost and performance improvements and a third-generation larger-scale product line with further cost and performance improvements. With the launch of these products, Next Hydrogen will be well positioned to support the needs of its customers for both near-term market demonstrations and commercial large-scale green hydrogen systems. The payment for the first milestone in the amount of $1.9M was received from SDTC in 2023, while the payment of $1.9M for the second milestone was received in early 2024.
For a more detailed discussion of Next Hydrogen’s third quarter results, please see the Company’s financial statements and management’s discussion and analysis, which are available on the Company’s website at nexthydrogen.com or on SEDAR+ at www.sedarplus.ca.
In addition, to better understand our achievements from 2023 and the outlook for 2024, please refer to the CEO letter included in the 2023 year-end MD&A.
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize industrial and transportation sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
delerious1
2年前
TSXV:NXH, OTC:NXHSF
Next Hydrogen Solutions Inc. Announces Private Placement Of Unsecured Convertible Debentures
MISSISSAUGA, Ontario, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (the “ Company ” or “ Next Hydrogen ”) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to announce a private placement (the “ Offering ”) of unsecured convertible debentures (each, a “ Debenture ”) consisting of up to $3,000,000 principal amount of Debentures.
The Debentures shall mature on the earlier of the following to occur:
(i) 24 months from the date of issuance;
(ii) on (x) a sale, merger, arrangement, amalgamation, business combination, or other transaction or series of transactions which results in a person other than the shareholders of the Company immediately prior to such transaction holding more than 50% of the votes attributable to the shares of the surviving issuer or acquiring corporation; or (y) the sale, lease, transfer, exclusive license, or other disposition of all of substantially all of the assets of the Company, unless such sale, lease, transfer, license or disposition is to a wholly-owned subsidiary of the Company; or
(iii) on any demand for payment as a result of an event of default under the terms of the Debenture.
The Debentures shall bear interest at a rate of 10.0% per annum from the date of issue, calculated and paid in cash on a semi-annual basis. The holders of the Debentures may elect to convert the principal and all accrued, but unpaid interest under the Debenture into that amount of common shares of the Company (“ Common Shares ”), computed on the basis of the outstanding principal and all accrued, but unpaid interest under the Debenture divided by $1.00 per Common Share.
The closing of the Offering is expected to take place on November 29, 2024, or such other date(s) as the Company may determine.
Next Hydrogen intends to use the proceeds of the Offering to invest in their scale-up efforts and for general corporate purposes.
The Debentures will be direct, unsecured, subordinated obligations of the Company and will rank equally and rateably with all other existing and future unsecured indebtedness of Next Hydrogen to the extent subordinated on the same terms. The Debentures will not restrict the Company or its subsidiaries from incurring additional indebtedness or from mortgaging, pledging or charging its properties to secure any indebtedness or liabilities. The Debentures are being offered on a private placement basis in Canada and in offshore jurisdictions in reliance upon exemptions from the prospectus requirements under applicable securities legislation.
All moneys quoted in this press release shall be stated and paid in the lawful money of Canada.
The Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada, and accordingly, any offer and sale of the Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the account or benefit of a U.S. person, absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This proposed private placement is subject to receipt of all required regulatory approvals, including that of the TSX Venture Exchange (“ TSXV ”). There can be no assurance that the Offering will be completed as proposed or at all.
The TSXV has in no way passed upon the merits of the Offering and has neither approved nor disapproved the contents of this press release.
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
www.nexthydrogen.com
delerious1
2年前
News:
Next Hydrogen To Demonstrate Electrolyzers For The Aviation Industry In Collaboration With Pratt & Whitney Under INSAT Program
MISSISSAUGA, Ontario, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (“Next Hydrogen“) ( TSXV:NXH , OTC:NXHSF ), a designer and manufacturer of electrolyzers, is developing high-efficiency, low-cost electrolyzers needed for establishing hydrogen production infrastructure for the aviation industry. Pratt & Whitney Canada will demonstrate hydrogen combustion technology on a PW127XT regional turboprop engine under the project named Hydrogen Advanced Design Engine Study (HyADES). Pratt & Whitney is an RTX (NYSE: RTX) business. This project is supported by Canada’s Initiative for Sustainable Aviation Technology (INSAT).
“This collaborative project with INSAT enables us to develop key technologies for future hydrogen powered aircraft and complements our wider efforts to advance aviation sustainability through a range of pathways, including continued improvements to engine efficiency, hybrid-electric propulsion and compatibility with sustainable aviation fuel (SAF),” said Edward Hoskin, vice president, Engineering, Pratt & Whitney Canada. “While regional aviation represents one of the most promising use cases for hydrogen, the project will also demonstrate the versality of adapting the proven, highly efficient PW127XT turboprop engine to operate with low carbon alternative fuels and continues our legacy of technology leadership in this segment.”
Funding for the first phase of the project will include fuel nozzle and combustor rig testing using hydrogen fuel, while future phases will target full engine ground testing. The PW127XT engine is the most advanced member of Pratt & Whitney Canada’s PW100 engine series, which has powered regional turboprop aircraft for forty years and accumulated more than 220 million flight hours. Launched in 2021, the PW127XT engine offers over 3% better fuel efficiency, 40% improved time on wing, and 20% reduced maintenance costs.
“We are thrilled to collaborate with INSAT and Pratt & Whitney Canada on this project,” said Raveel Afzaal, president and CEO of Next Hydrogen. “The ability to produce green hydrogen at scale will be a critical enabler for reducing aviation CO 2 emissions, whether using hydrogen as a direct fuel for combustion or as feedstock for SAF.”
As part of a second INSAT-supported project, Turbine Engine Advanced Materials for Efficiency (TEAME), Pratt & Whitney Canada will work with Derivation Research Laboratory (DRL) to explore advanced materials for hot section components of gas turbine engines, which will help to improve thermal efficiency and reduce fuel consumption and emissions. Pratt & Whitney Canada will lead the overall project providing both technical input and project management, while DRL will provide world-class materials testing capability for a wide variety of critical material properties.
About Next Hydrogen Solutions Inc.
Founded in 2007, Next Hydrogen Solutions Inc. is a designer and manufacturer of water electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as a green energy source or a green industrial feedstock. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors. For further information: www.nexthydrogen.com
About Derivation Research Lab
Derivation Research Lab (DRL) was established in 2012 with an inherent focus on thermomechanical fatigue (TMF). Driven by passion, DRL offers expertise in modelling, research, and testing of high-temperature materials through a world-class facility located in Ottawa, Ontario. Visit www.DerivationResearchLab.com for more information.
About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. To learn more visit www.prattwhitney.com .
About RTX
With more than 185,000 global employees, RTX pushes the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $69 billion, is headquartered in Arlington, Virginia.
Contact Information
Raveel Afzaal , President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
www.nexthydrogen.com
delerious1
2年前
High Efficiency Electrolyser Cells Complete Key Durability Test
October 15, 2024 07:00 ET
| Source: Next Hydrogen Corporation
MISSISSAUGA, Ontario, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen“) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to announce that it has successfully completed an extended durability test of its GEN2 electrolysis cells used in the efficient production of green hydrogen. The GEN2 cells will now be deployed in Next Hydrogen electrolysers at customer sites for commercial operation.
Next Hydrogen previously reported that it has achieved leading efficiency of its GEN2 cells in October of 2023(1). The GEN2 cell performance of lower than 1.9 V per cell at 1 amp/cm2 and at 70oC exceeds reported US Department of Energy (DOE) technical targets status for energy efficiency, while maintaining a 2 times higher peak operating point(2). Further, a turn-down of 10% demonstrated best-in-class performance and an optimal solution for direct connection to renewables to produce green hydrogen.
Equally important is the cell performance durability, and widely accepted testing protocols have been applied to confirm minimal degradation under intermittent operation as required for renewable energy supplied systems. Furthermore, 3,000 hours of cyclic testing have recently been successfully surpassed, providing the confidence to commercially deploy.
The GEN2 cells will be applied to Next Hydrogen’s modular product line in sizes of 0.75MW, 1.5MW and 2.25MW and offer the best commercially available performance features.
Raveel Afzaal, President and CEO of Next Hydrogen, stated, “This represents a significant milestone for us as we move into product commercialization. We are also upsizing our products and plan to demonstrate an even larger and more efficient GEN3 product version in 2025 based on leveraging our GEN2 success.”
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
www.nexthydrogen.com
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