MISSISSAUGA, April 7, 2022 (GLOBENEWSWIRE) – Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen“) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to announce it has signed a memorandum of understanding (“MoU”) with Black & Veatch, a global engineering, procurement, consulting and construction company, to offer a complete and integrated solution for producing large-scale green hydrogen for industrial customers.
Building upon our collaboration in Black & Veatch’s IgniteX Climate Tech Accelerator program, Next Hydrogen will combine its unique technology and electrolysis expertise with Black & Veatch’s market leadership in large-scale industrial engineering solutions to target broad applications worldwide for industrial and transportation customers.
“Next Hydrogen is excited to work with Black & Veatch to develop an integrated large-scale green hydrogen solution,” says Raveel Afzaal, President and CEO of Next Hydrogen. “We believe Black & Veatch’s vast industry network and proven engineering leadership coupled with our unique electrolysis technology will help accelerate the deployment of customer-centric, highly reliable and cost-effective solution.”
“The industrial sector is increasingly pursuing hydrogen as a viable solution towards decarbonization, spurring a growing sense of urgency for the expansion of green hydrogen technology,” said Jason Rowell, associate vice president and Black & Veatch’s global decarbonization solutions director with Black & Veatch’s global power business. “We are looking forward to partnering with Next Hydrogen to help develop and expand the use of their electrolyzer technology for commercial and industrial clients.”
The MoU is a non-exclusive agreement under which Next Hydrogen and Black & Veatch will develop a large-scale, multi-megawatt green hydrogen solution and identify areas of deeper collaboration and specific opportunities worldwide.
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 39 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.
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow on www.bv.com and on social media.
|Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
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.