Factory Acceptance Test of Second-Generation Electrolyzer Completed
12 September 2024 - 9:00PM
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 successfully completed an extended factory acceptance
test of its second generation electrolyzer module. This product
line will be commissioned at a customer site in the coming months.
The second-generation product line is a design
simplification of its first-generation product line resulting in a
40% cost improvement through part count reduction. The development
of the second-generation product line was partially funded by
Sustainable Development Technology Canada (SDTC).
This modular product line is available in sizes
of 0.75MW, 1.5MW and 2.25MW and offers best commercially available
performance features including a turn-down ratio of 10% for direct
connection to renewables.
Raveel Afzaal, President and CEO of Next
Hydrogen, stated, “This represents a significant milestone for us
following over 20,000 hours of bench and pilot scale testing in
addition to sub-component testing programs. We continue to innovate
and are now well advanced with our product development of large
scale and cost-effective designs for high volume green hydrogen
production. We are grateful to our talented employees for their
dedication as well as to our government for their support on our
journey to decarbonize our planet.”
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 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
OfficerNext Hydrogen Solutions Inc.Email:
rafzaal@nexthydrogen.comPhone: 647-961-6620www.nexthydrogen.com
Cautionary StatementsThis 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; 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.
Next Hydrogen Solutions (TSXV:NXH)
Historical Stock Chart
From Nov 2024 to Dec 2024
Next Hydrogen Solutions (TSXV:NXH)
Historical Stock Chart
From Dec 2023 to Dec 2024