Latest news with #GreenAmmonia
India.com
5 days ago
- Business
- India.com
Good news for Gautam Adani as Adani Group bags project worth Rs 44000000000 from....
Gautam Adani- File image In a significant development for the Gautam Adani led Adani Group, Adani Energy Solutions Limited (AESL) bagged a massive interstate transmission project worth Rs 1,600 crore in Maharashtra. With this project, AESL's order book now stands at Rs 61,600 crore. The new Adani project reportedly involves creation of a substation capacity of 3,000 mega volt-ampere (MVA) and other infrastructure related to power transmission. Earlier in March, the Adani Energy Solutions Ltd (AESL) had bagged a Rs 2,800 crore power transmission project in Gujarat, taking the total to Rs 4400 crore. Here all the details you need to know about the two recent projects for the Adani group. Adani group bags 1600 crore project in Maharashtra Awarded through a competitive bidding process, the Maharashtra project of the Adani group involves developing infrastructure with a substation capacity of 3,000 MVA. Bid under the the Interstate Transmission System (ISTS), AESL has stated that the initiative will support India's energy self-reliance and green goals. As per a report by PTI news agency, the Gujarat project will supply green electrons for manufacturing of Green Hydrogen and Green Ammonia at Mundra in Gujarat, AESL said in an exchange filing. For the company, this is its sixth order win this fiscal year, taking its order book to Rs 57,561 crore, the company said. This project 'Transmission System for Green Hydrogen/Ammonia Manufacturing Potential in Mundra, Gujarat' involves upgrading the Navinal (Mundra) electrical substation by adding two large 765/400kV (kilovolt) transformers. Additionally, a 75 km long 765kV double-circuit line will be constructed to connect this substation to the Bhuj substation. The project will see the addition of 150 cKM (circuit kilometer) of transmission lines and 3,000 MVA (megavolt-amperes) of transformation capacity to AESL's overall transmission infrastructure, taking them to 25,928 cKM and 87,186 MVA, respectively. AESL won the project under the Tariff-Based Competitive Bidding (TBCB) mechanism and PFC Consulting Ltd was the bid process coordinator. (With inputs from agencies)
Hamilton Spectator
24-04-2025
- Business
- Hamilton Spectator
Next Hydrogen Reports Q4 2024 and Fiscal 2024 Financial Results
MISSISSAUGA, Ontario, April 24, 2025 (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 fourth quarter and full year ended December 31, 2024. 'Next Hydrogen demonstrated best commercially available cell performance with best-in-class operating range, delivered its second-generation system to a customer site after an extended Factory Acceptance Test, secured a strategically important Green Ammonia project in partnership with GE and Casale, entered the aviation fuels vertical in partnership with Pratt & Whitney and secured funding support from Export Development Canada and existing investors,' said Raveel Afzaal, President & CEO. 'With proven technology advantage and globally competitive gigawatt scale manufacturing capacity available through partnering with a leading hydrogen production system manufacturer, our objective is to drive a significant growth in our sales backlog in strategic verticals in 2025.' 2024 Financial Highlights Management is proud to highlight several recent milestones that demonstrate significant recent progress: For a more detailed discussion of Next Hydrogen's fourth quarter and fiscal 2024 results, please see the Company's financial statements and management's discussion and analysis, which are available on the Company's website at or on SEDAR+ at . In addition, to better understand our achievements from 2024 and the outlook for 2025, please refer to the CEO letter included in the 2024 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@ Phone: 647-961-6620 Cautionary Statements This news release contains 'forward-looking information' and 'forward-looking statements'. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; cell efficiency targets; expected order sizes for the product line; customer relationships and customer terms for testing of products at a customer site; the ability of the Corporation to optimize energy efficiencies; the Corporation's available resources to double its growing backlog; uncertainty with respect to the timing of any contemplated transactions or partnerships, or whether such contemplated transactions or partnerships will be completed at all; whether the uncertainty of estimates and projections relating to costs and expenses; failure to obtain necessary regulatory approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
Yahoo
05-02-2025
- Business
- Yahoo
FuelPositive Provides Update on Filing of Annual Financial Statements and Cease Trade Order
TORONTO, Feb. 4, 2025 /CNW/ - FuelPositive Corporation (TSXV: NHHH) (OTCQB: NHHHF) ("FuelPositive" or the "Company") provides an update on its financial reporting and regulatory status. The Company is actively working with its auditors to complete the required annual financial statements and accompanying management's discussion and analysis for the fiscal year of September 30, 2024. The filing deadline of January 28, 2025, was not met due to the restructuring of FuelPositive's financial team and Board of Directors, which required additional time to transition financial reporting responsibilities and associated analysis. Additionally, unforeseen delays from a third-party accounting firm, engaged before the restructuring to assist the auditors, further extended the timeline. While this caused a temporary delay, it does not reflect any operational concerns—FuelPositive remains fully operational and focused on its core business objectives. As a result of the missed deadline, the Ontario Securities Commission (OSC) issued a Cease Trade Order (CTO) on February 3, 2025. However, FuelPositive's auditors expect to finalize the audit and the Company will submit the necessary filings on or before February 21, 2025. The Company is committed to working closely with regulatory authorities, including the OSC and TSX Venture Exchange, to have the CTO lifted as quickly as possible once the filings are complete. Despite this administrative delay, FuelPositive remains steadfast in advancing toward commercialization. The Company is making significant progress toward activating its first on-farm Green Ammonia system in Sperling, Manitoba. This milestone will demonstrate the commercial viability and real-world impact of its technology. Regulatory and system readiness are on track, ensuring a smooth transition to this next critical phase. Additionally, FuelPositive is actively engaged in capital-raising initiatives and discussions with the Government of Manitoba to secure key support for expansion in the province. These efforts aim to accelerate the development and manufacturing of its Green Ammonia technology, create high-value clean economy jobs, and provide farmers with greater resilience and energy independence. FuelPositive remains dedicated to delivering long-term value to its shareholders and will provide further updates in the coming weeks as the audit process is finalized and the Company moves forward with its strategic milestones. FuelPositive Corporation FuelPositive is leading the future of agriculture with the world's first farmer-owned, on-farm Green Ammonia production systems. The Company's modular and innovative technology offers a predictable, reliable, and affordable solution for directly producing green fertilizer and fuel on-farm, reducing reliance on external supply chains. Groundbreaking AgTech and Green Energy: FuelPositive's containerized Green Ammonia production systems are transforming the Green Ammonia industry by decentralizing production. This new fertilizer production approach aims to empower farmers to generate green nitrogen fertilizer and carbon-free fuel on-site, ensuring stable costs and supply. Each ton of ammonia produced by FuelPositive systems eliminates up to 2 tons of CO2e emissions, providing an environmentally sustainable solution that is also easily accessible and remotely monitored, enabling farmers to focus on their operations without added complexity. First System Delivery: A Milestone in Sustainable Agriculture: In June 2024, FuelPositive delivered its first commercial system, the FP300, to Tracy and Curtis Hiebert's 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a significant advancement for both FuelPositive and sustainable agriculture. The system activation this fall will further demonstrate the transformative impact of the Company's technology on farming practices, driving a more sustainable future. Manitoba: A Global Center of Excellence: FuelPositive is positioning Manitoba as a leader in decentralized Green Ammonia production. The Company's vision includes establishing a world-leading manufacturing hub that will generate highly skilled engineering, science, and trade jobs and contribute to the local economy over the coming years. See sales details here: FuelPositive Corporation is based in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and in the USA on the OTCQB under the symbol NHHHF. Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements. These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided to provide information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. SOURCE FuelPositive Corp. View original content to download multimedia: Sign in to access your portfolio
