MISSISSAUGA, Ontario, Aug. 19, 2024 (GLOBE NEWSWIRE) -- 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 been awarded a contract by the University of Minnesota (UMN) for its latest generation electrolysis technology to be installed at the UMN West Central Research and Outreach Center (WCROC).
The WCROC project is supported by the U.S. Department of Energy's Advanced Research Project Agency (ARPA-E) as well as other partners including RTI International (RTI) and will include technologies from Casale, RTI and UMN to demonstrate the production of ammonia from renewable energy targeting emerging energy markets and existing agricultural markets.
Next Hydrogen will be supplying its latest third-generation Alkaline Water Electrolyzers featuring improvements in energy efficiency, current density and operating pressure. Next Hydrogen electrolyzers provide complete and responsive renewable energy load following capability needed to produce hydrogen from intermittent energy sources such as wind and solar. The system is scheduled to be operational in 2025.
The project team also includes Nutrien, GE, Nel Hydrogen, Xcel Energy, Great River Energy, Otter Tail Power Company, Runestone Electric Association, Chemtronergy, Texas Tech University, Pacifica, the Agricultural Utilization Research Institute (AURI) and Shell.
Raveel Afzaal, President and CEO of Next Hydrogen, stated, "We are very honored to be part of this exciting project and working with our existing partners Casale and GE while also forming new industry relationships. Our technology provides a compelling alternative to more expensive options for producing hydrogen from renewable energy."
About Next Hydrogen
Founded 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 Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
Cautionary Statements
This 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.
