Mississauga-based Next Hydrogen Solutions has secured a $5 million working capital debt facility from Export Development Canada. The funding will support the company’s scale-up of its patented water electrolysis technology for green hydrogen production. Founded in 2007, Next Hydrogen holds 40 patents and recently completed extended durability testing of its GEN2 electrolysis cells.
CEO Raveel Afzaal emphasized the firm’s role in decarbonizing hard-to-abate sectors globally. EDC’s Tushar Handiekar called the partnership a strategic opportunity to elevate Canadian cleantech on the world stage. The support reflects growing global momentum for clean hydrogen innovation.
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