- Next Hydrogen Solutions (NXH) has been awarded $5.1 million from Sustainable Development Technology Canada (SDTC)
- The investment from SDTC will help fund the development and demonstration of the company’s electrolysis technology
- The project, running until the end of 2024, will result in cost and performance improvements to Next Hydrogen’s current line of electrolysis products
- Next Hydrogen is a designer and manufacturer of electrolyzers to generate clean hydrogen for use as an energy source
- Next Hydrogen Solutions Inc. (NXH) opened trading at C$1.15
Next Hydrogen Solutions (NXH) has been awarded $5.1 million from Sustainable Development Technology Canada (SDTC).
The investment from SDTC will help fund the development and demonstration of the company’s electrolysis technology.
This collaborative project, with a budget of over $12 million will run until the end of 2024, resulting in cost and performance improvements to Next Hydrogen’s current line of electrolysis products (up to 2.25 MW) and the launch of large-scale electrolysis modules (over 7 MW).
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 project includes participation by a consortium of partners focused on validating these products for subsequent market deployment projects. This development program will include the building of a technology demonstration unit that will undergo extensive testing at the Alberta Carbon Conversion Technology Centre (ACCTC), a purpose-built demonstration facility operated by InnoTech Alberta.
“We are delighted with SDTC’s decision to support this Next Hydrogen-led consortium project,” says Raveel Afzaal, President and CEO of Next Hydrogen.
“The collaboration with key industry partners provides an unprecedented opportunity to accelerate the adoption of our innovative green hydrogen products in the marketplace. We look forward to providing updates on our development progress and related market deployment projects.”
Next Hydrogen is a designer and manufacturer of electrolyzers to generate clean hydrogen for use as an energy source.
Next Hydrogen Solutions Inc. (NXH) opened trading at C$1.15.
