Latest news with #NextHydrogen
Hamilton Spectator
3 days ago
- Automotive
- Hamilton Spectator
Next Hydrogen Successfully Energizes Ontario's largest Onsite Clean Hydrogen Fueling Station at a Distribution Centre
MISSISSAUGA, Ontario, July 28, 2025 (GLOBE NEWSWIRE) — Next Hydrogen Solutions Inc. (TSXV: NXH, OTCQB: NXHSF) ('Next Hydrogen' or the 'Company') is pleased to announce the successful commencement of operation of its revolutionary electrolyzer for clean hydrogen fueling at a major distribution centre. This achievement signifies the inauguration of Ontario's largest onsite clean hydrogen generation and fueling station, designed to produce up to 650 kg of hydrogen per day to support fuel cell forklifts. Next Hydrogen manufactured the electrolyzer with its innovative cell design architecture, engineered and built the balance of plant as well as integrated compressors and dispensers. The Company is currently overseeing system operations and will continue to do so until the fueling station is formally transitioned over to the customer. 'I would like to extend my gratitude to our talented team for their relentless efforts in successfully validating our second-generation electrolyzer through an extensive Factory Acceptance Test and operating the full hydrogen production system at a customer's site,' said Raveel Afzaal, President and CEO of Next Hydrogen. 'Demonstrating our revolutionary electrolyzer in a market application represents a significant advancement for our industry and paves the way for large-scale, low-cost green hydrogen production.' 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@ Phone: 647-961-6620 Notice regarding forward-looking statements: Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as 'plan', 'continue', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'potential', 'proposed' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements in this press release include statements regarding: the Offering, the use of proceeds of the Offering, approved and potential government grants and the Letter of Interest from EDC with respect to a working capital debt financing. Such forward-looking statements are based on the current expectations of management of Next Hydrogen. Actual events and conditions could differ materially from those expressed or implied in this press release as a result of known and unknown risk factors and uncertainties affecting Next Hydrogen, including risks regarding the industry in which Next Hydrogen operates, economic factors, the equity markets generally and risks associated with growth and competition; risks associated with the Corporation's ability to fulfil the technical, environmental, social and governance, financial and commercial due diligence required by EDC, risks associated with the ability to negotiate the government grants or the EDC working capital debt financing on terms acceptable to the Corporation and risks associated with such grants or working capital debt financing closing as planned or at all. Additional risk factors are also set forth in the Company's management's discussion and analysis and other filings available via the System for Electronic Document Analysis and Retrieval (SEDAR Plus) under Next Hydrogen's profile at . Although the Company has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be taken as guaranteed. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, readers should not place any undue reliance on forward looking information.
Hamilton Spectator
23-07-2025
- Business
- Hamilton Spectator
Next Hydrogen Announces Aggregate of $1.5 million in Loans and Provides Corporate Update
MISSISSAUGA, Ontario, July 23, 2025 (GLOBE NEWSWIRE) — Next Hydrogen Solutions Inc. (the 'Company' or 'Next Hydrogen') (TSXV:NXH, OTC:NXHSF), is pleased to announce that it is entering into a loan agreement with certain existing directors and officers of the Company (the 'Lenders') providing for the advance of an unsecured loan (the 'Loan') bearing interest at 5.0% per annum in the principal amount of $530,000. The Loan shall mature on the date that is one year from the advance of the Loan (the 'Maturity Date'). In conjunction with the advance of the Loan, the Company will also pay a set-up fee of $20,000 to the Lenders. The advance of the Loan is expected to take place on July 23, 2025, immediately prior to the advance of a $1 million loan from an arm's length commercial lender (the 'Original Loan') that is being negotiated between the Company and such lender. There can be no assurances that the Original Loan will be completed as proposed or at all. In consideration of the advance of the Loan by the Lenders, the Company shall, subject to the approval of the TSX Venture Exchange (the 'TSXV') in accordance with the policies of the TSXV, issue to the Lenders, an aggregate of 214,140 common shares of the Company ('Common Shares') at a deemed price of $0.495 per share as bonus shares (the 'Loan Bonus Shares'), representing approximately 20% of the principal amount of the Loan, subject to adjustment in accordance with the policies of the TSXV. In addition, subject to the approval of the TSXV in accordance with the policies of the TSXV, the Loan may be converted into Common Shares (the 'Conversion Shares') at the option of the Company, in whole or in part, on the earlier of the Maturity Date or the closing of an offering of equity securities of the Company. Next Hydrogen intends to use the proceeds of the Loan and the Original Loan for working capital and general corporate purposes. The Loan and the Original Loan will assist the Company in bridging its financial position in order to keep its talented team and continue operations while it evaluates longer term financial and strategic solutions. In conducting its review of financial and strategic solutions, the Company's board and management team are committed to acting in the best interests of the Company, its shareholders and its stakeholders. There is no deadline or definitive timetable for the completion of the review of financial and strategic solutions, and the Company does not intend to comment further unless the Company's board has approved a specific transaction or otherwise determined that disclosure is necessary or appropriate. There can be no assurances that the review will result in any specific transaction or outcome. This issuance of the Loan Bonus Shares and the Conversion Shares, if applicable, are subject to receipt of all required regulatory approvals, including that of the TSXV. The TSXV has in no way passed upon the merits of the Loan or the Original Loan and has neither approved nor disapproved the contents of this press release. All moneys quoted in this press release shall be stated and paid in the lawful money of Canada. The Company also advises that the last day of trading of the Common Shares on the OTCQX will be Thursday, July 24, 2025. The Lenders consist of Allan MacKenzie, Anthony Guglielmin, Adarsh Mehta, Jens Peter Clausen, Susan Uthayakumar and Walter Howard, each a director of the Company, Raveel Afzaal, the Chief Executive Officer and a director of the Company and Rohan Advani, the Chief Financial Officer of the Company. Each Lender is an Insider of the Company (as such term is defined under the policies of the TSXV) and the participation of Insiders in the Loan would constitute a 'related party transaction' within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(b) as the Company is not listed on a specified market and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(b), based on a determination that the fair market value of the Loan, insofar as it involves the related parties, will not exceed $2,500,000. The Company did not file a material change report 21 days prior to the expected closing date of the Loan as closing occurred on an expedited basis. An aggregate of 214,140 Loan Bonus Shares will be issued to the Lenders which in the aggregate represents less than 1.0% of the issued and outstanding Common Shares. 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@ Phone: 647-961-6620 Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. 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 risk that the Loan and the Original Loan will not be completed as planned or at all; changes to the use of proceeds of the Loan and the Original Loan, risks associated with the pursuit of any financial or strategic transaction or the completion thereof, the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; uncertainty with respect to the timing of any contemplated transactions or partnerships, or whether such contemplated transactions or partnerships will be completed at all; the timing for any submissions or correspondences with applicable securities laws regulators; whether the uncertainty of estimates and projections relating to costs and expenses; failure to obtain timely necessary regulatory approvals and all required TSXV 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.
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.
