Mississauga, Ontario, July 11, 2023 – Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen“) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers for green hydrogen production is pleased to announce it is receiving advisory services and up to $750,000 in research and development funding from the National Research Council of Canada  Industrial Research Assistance Program (NRC IRAP) toward the development and demonstration of the Company’s next generation products.

“We are very grateful for NRC IRAP’s support of our key development initiatives,” said Raveel Afzaal, President and CEO of Next Hydrogen. “We are making impressive gains on both cell performance and cost reduction initiatives and appreciate the government’s support in accelerating our product roadmap and our mission of driving widespread adoption of green hydrogen solutions to decarbonize the global economy.”

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 or an industrial feedstock. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operation 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

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.