Next Hydrogen Reports Q2 2025 Financial Results

Core Viewpoint - Next Hydrogen Solutions Inc. has made significant advancements in its electrolyzer technology, achieving a major milestone in validating its Canadian-designed electrolyzers at scale, which enhances hydrogen output and aims to reduce costs in the green hydrogen market [2][3]. Financial Performance - As of June 30, 2025, the company's cash balance was $1.8 million, down from $3.6 million as of December 31, 2024 [3]. - Revenue for the six-month period ended June 30, 2025, was $0.6 million, a decrease from $1.1 million in the same period of the previous year [3]. - The net loss for the six-month period ended June 30, 2025, was $5.9 million, improved from a loss of $7.3 million in the same period of the prior year [3]. Operational Milestones - In July 2025, the company commenced operations of its electrolyzer for clean hydrogen fueling at Ontario's largest onsite clean hydrogen generation and fueling station, capable of producing up to 650 kg of hydrogen per day [3]. - The company entered into a loan agreement for $0.5 million with existing directors and officers to support its financial position [3]. - In April 2025, Next Hydrogen secured a $5 million working capital debt facility from the EDC, with approximately $4 million drawn to date for scaling and corporate purposes [3]. Technological Advancements - Next Hydrogen has achieved over 40,000 hours of data on its test platform, leading to significant improvements in cell performance [3]. - The company received ISO 9001-2015 and ISO 45001-2018 certifications for its Mississauga site, indicating efficient operating systems capable of supporting an expanding customer base [3]. - The company successfully completed a durability test of its second-generation water electrolyzer technology, achieving energy efficiency targets that exceed the US Department of Energy's technical standards [4]. Strategic Collaborations - In November 2024, Next Hydrogen announced a collaboration with Pratt & Whitney to demonstrate hydrogen use in aircraft engines, partially funded by Canada's Initiative for Sustainable Aviation Technology [3].