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Next Hydrogen Solutions Inc. designs and manufactures water electrolyzers that use water and electricity to produce clean hydrogen for energy and industrial feedstock applications. The company’s technology is built around a cell design architecture supported by patents and is aimed at infrastructure-scale green hydrogen production, including applications tied to renewable power, transportation, industrial decarbonization and specialized energy environments.
Company updates commonly cover electrolyzer contracts, technology demonstrations, commercialization partnerships, manufacturing scale-up, research and development activity in Canada, operating and financial results, and capital actions such as private placements, loans and working-capital debt facilities. Governance developments, board changes and shareholder matters also recur in Next Hydrogen’s public announcements.
Next Hydrogen (OTC: NXHSF) announced completion of a Basic Design Engineering Package (BDEP) for a planned 10 MW hydrogen fueling station in British Columbia with a confidential customer. The BC Project is intended to support provincial transportation-sector decarbonization using on-site green hydrogen production.
The design is based on Next Hydrogen’s commercially deployed, containerized electrolysers and standardized plant solution. According to Next Hydrogen, a Financial Investment Decision for the project is anticipated by the end of 2026, with construction targeted for late 2027 or early 2028 if the project proceeds.
Next Hydrogen Solutions (TSXV:NXH, OTC:NXHSF) reported Q2 2026 revenue of $878,738 and six‑month revenue of $1,179,621, up from $247,652 and $606,516 a year earlier, mainly from development contracts. Net loss was $2,928,747 for Q2 and $5,724,158 year‑to‑date, broadly unchanged versus 2025.
Cash stood at $12,170,278 on June 30, 2026, down from $18,516,086 at year‑end, reflecting operating cash outflows and capex. The board appointed Jocelyne Moyer as President, CEO and director effective September 1, 2026, succeeding Raveel Afzaal. Recent milestones include a collaboration with Fusion Fuel Cycles and two specialized nuclear fusion contracts totaling approximately $3.75 million, with most revenue expected in 2026 and full recognition by Q1 2027. In December 2025, the company raised $20.7 million via a non‑brokered private placement of 46,180,309 shares at $0.45, led by a Smoothwater Capital affiliate, which became the largest shareholder at about 48.1%.
Next Hydrogen (OTCQB:NXHSF) announced that President and CEO Raveel Afzaal will step down in Fall 2026. The Board hired Massey Henry to search for a successor focused on scaling commercialization. Afzaal will lead through the transition as the company enters a commercial growth phase with a deployed flagship system and strong industrial partnerships.
Next Hydrogen (OTC:NXHSF) announced a collaboration with Fusion Fuel Cycles to demonstrate purpose-built electrolysers for the fusion industry. This builds on two March 2026 contracts totaling about $3.75 million for an electrolyser to extract tritium from heavy water, integrated into FFC’s fusion fueling system.
Next Hydrogen Solutions (OTC:NXHSF) reported fiscal 2025 revenue of $3.4M (from $1.4M in 2024) and a narrowed net loss of $7.7M (2024: $14.6M). Cash rose to $18.5M following a $20.7M private placement in December 2025.
The company began commercial operation of its NH150 0.75 MW electrolyzer in August 2025, announced March 2026 contracts of approximately $3.75M, and appointed Anson Sinanan as VP, Stack Engineering effective April 1, 2026.
Next Hydrogen (OTC:NXHSF) was awarded two contracts totaling approximately $3.75 million to deploy a customized electrolyzer system for a specialized nuclear application. The agreements fund a demonstration project addressing stringent performance and reliability requirements and may enable potential follow-on commercial opportunities.
The company cautions these are forward-looking developments and outcomes are subject to risks and approvals.
Next Hydrogen (OTC:NXHSF) closed a non-brokered private placement on December 17, 2025, issuing 46,069,198 common shares at CAD$0.45 per share to raise gross proceeds of approximately CAD$20.7 million. The financing included a CAD$560,527.37 debt-for-equity exchange and a CAD$1,125,000 debenture conversion; CAD$1.6M of debentures remain outstanding. Affiliate Smoothwater became a Control Person with ~47.9% ownership and led the financing; an investor rights agreement grants board nomination and other rights. Stephen Griggs joined as Executive Chair and received 1,000,000 options and a management fee arrangement of $225,000/year. Proceeds are for NH-150 sales, NH-500 development, customer engagement and general corporate purposes.
Next Hydrogen (TSXV:NXH; OTC:NXHSF) announced a non-brokered private placement of common shares at CAD$0.45 per share to raise a minimum of CAD$20.0M and up to CAD$30.0M, expected to close on or about November 28, 2025, subject to regulatory and TSXV approvals. Toronto-based Smoothwater Capital is leading the Offering; Smoothwater has signed subscription agreements for part of the >CAD$20M received and is expected to become the largest shareholder with Stephen Griggs joining as Executive Chair.
Proceeds are intended to accelerate sales and manufacturing of the NH150 electrolyzer, complete development of the NH500, provide working capital and support general corporate purposes. Securities will be subject to a four-month-and-one-day hold and will not be registered in the United States.
Next Hydrogen Solutions (OTC:NXHSF) has secured $1.5 million in total loans to support its working capital needs. The financing consists of a $530,000 unsecured loan from company insiders at 5% annual interest and a potential $1 million loan from an arm's length commercial lender.
The insider loan includes the issuance of 214,140 bonus shares at $0.495 per share and is convertible to common shares. The company will also pay a $20,000 setup fee. The loans will help bridge Next Hydrogen's financial position while it evaluates longer-term strategic solutions. Additionally, the company announced its last trading day on OTCQX will be July 24, 2025.
Next Hydrogen Solutions (TSXV:NXH, OTC:NXHSF) has secured a $5 million working capital debt facility from Export Development Canada (EDC). The company specializes in electrolyser technology with a revolutionary cell architecture designed for efficient, large-scale, and low-cost green hydrogen production.
The financing aims to support Next Hydrogen's growth opportunities in the expanding hydrogen economy, with the company noting that 75% of world GDP has policies supporting hydrogen sector growth. EDC expressed support for Next Hydrogen's green hydrogen solutions and views this as the start of a strategic relationship, recognizing the potential for the company's innovative electrolyser technology and global partnerships to establish Canadian leadership in global innovation.