TORONTO, April 12, 2021 (GLOBE NEWSWIRE) — Next Hydrogen Corporation (“Next Hydrogen” or the “Company”) is pleased to announce that it has acquired the assets of CleanFuel Systems Inc. (“CleanFuel Systems”), a hydrogen system integration and service company focused on delivering energy solutions through system design, component integration and development, and engineering solutions.
Founded in 2008 by Shane Day, CleanFuel Systems has extensive experience developing energy systems and delivering customer focused solutions, while providing industry leading after build support and services. CleanFuel Systems is a leader in hydrogen system integration, operation, and service with 60 plus system installs including temporary and permanent sites while integrating over 200 hydrogen fuel cells from cell tower temporary power to large scale generation and forklift fuel cell integration. In addition to hydrogen integration services, CleanFuel Systems provides hydrogen safety consulting and technician education development consulting.
Shane Day has also joined the Next Hydrogen leadership team as Vice President of Operations. Shane has over 25 years of experience in the hydrogen industry managing hydrogen projects from conception through product deployment. Shane managed the design, installation, operation, and maintenance of Canada’s first two on-site hydrogen generation and dispensing facilities for forklifts powered by fuel cells. In 2009, Shane became one of the first to be certified by TSSA as a hydrogen technician, which is required to install any hydrogen system in Ontario. Shane is also currently a Director of the Hydrogen Business Council of Canada.
“We are very excited to have Shane Day join our leadership team, as he is very familiar with our product offerings and will play a critical role in expanding the scope of our after-market customer service support,” said Raveel Afzaal, President and CEO of Next Hydrogen. “This is the first of many exciting growth milestones for this year as we lay the groundwork to scale, and position ourselves as a leading one-stop solutions provider for our valued customers.”
About Next Hydrogen
Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to create clean hydrogen for use as an energy source or as a material input into various other products. Founded in 2007, Next Hydrogen’s innovative water electrolysis technology, with patented cell architecture, is designed to efficiently convert intermittent renewably-sourced electricity into green hydrogen on an infrastructure scale. Next Hydrogen’s IP includes 36 granted patents with several more pending and a well-laid out technology development roadmap for new product offerings, including both larger alkaline systems as well as PEM systems.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. 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”, an 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. In this news release, forward-looking statements relate, among other things, to: the terms and conditions of the Transaction, the business and operations of Next Hydrogen and the Resulting Issuer; the completion and terms of the Private Placement, the constitution of the Resulting Issuer’s board and management terms, and the trading and listing of the Resulting Issuer shares as the case may be. 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: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. 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, Next Hydrogen and BioHep assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Next Hydrogen Corporation
Raveel Afzaal, CFA
President & CEO