From GlobeNewswire: 2025-04-24 19:00:00

Next Hydrogen Solutions Inc. reported financial results for Q4 and full year 2024, showcasing best-in-class cell performance and securing key projects in green ammonia and aviation fuels. The company aims for significant sales growth in 2025. Financially, cash balance was $3.5M, revenue was $1.4M, and net loss was $14.6M for 2024.

In April 2025, Next Hydrogen obtained a $5M working capital debt facility from Export Development Canada to support technology improvements. The company also partnered with a hydrogen production system manufacturer to scale up water electrolysis technology for large projects. Next Hydrogen received ISO certifications and appointed Adarsh Mehta to the Board.

In November 2024, Next Hydrogen collaborated with Pratt & Whitney to demonstrate hydrogen use in aircraft engines. In October, the company completed durability tests for second-generation electrolysis cells, exceeding DOE efficiency targets. Premier Doug Ford and other officials visited the manufacturing facility, aligning with Canada’s green hydrogen goals.



Read more at GlobeNewswire:: Next Hydrogen Reports Q4 2024 and Fiscal 2024 Financial