Next Hydrogen to Receive Investment of $5.1 Million from Sustainable Development Technology Canada (SDTC) for Innovative Large-Scale Electrolysis Development
MISSISSAUGA, Ontario, Dec. 20, 2022 -- Next Hydrogen Solutions Inc. , a designer and manufacturer of electrolyzers, is pleased to announce that it has been awarded $5.1 million from Sustainable... |…
MISSISSAUGA, Ontario, Dec. 20, 2022 (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 been awarded $5.1 million from Sustainable Development Technology Canada (SDTC) towards the development and demonstration of the Company's next generation electrolysis technology.
This collaborative project with a budget of over $12 million will run to 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 next generation 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 the close participation of a consortium of strategic 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) in Calgary, Alberta, 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.' About Next HydrogenFounded 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 39 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.
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