Next Hydrogen Provides Update on Working Capital Debt Financing
Published by Todd Bush on December 10, 2024
MISSISSAUGA, Ontario, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (“Next Hydrogen”) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to announce that it has received a Letter of Interest (“LOI”) from Export Development Canada (“EDC”), for potentially up to $5M in working capital debt financing. EDC’s potential financing commitment, structure and terms are contingent upon its satisfactory completion of technical, environmental, social and governance (ESG), financial and commercial due diligence. As such, the LOI should not be construed as a financing commitment.
>> In Other News: Why Carbon Capture Needs Renewable Energy to Scale
Raveel Afzaal, President & CEO of Next Hydrogen, said, “We are grateful to EDC for its interest in supporting our growth opportunities. With 75% of the world GDP having policies in place to grow the hydrogen economy, we see significant export potential for our innovative electrolyzers to enable decarbonization of hard-to-abate sectors of the economy.”
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
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