Core Viewpoint - Next Hydrogen Solutions Inc. has successfully closed a non-brokered private placement, raising approximately CAD$20.7 million through the issuance of 46,069,198 common shares at CAD$0.45 per share, marking a significant milestone in its transition to a commercially focused business delivering hydrogen electrolyzers [1][3][4] Financing and Shareholder Structure - The private placement was led by Smoothwater Capital Corporation, which has become the largest shareholder of Next Hydrogen, holding approximately 47.9% of the issued common shares, ensuring Canadian ownership and control [2][14] - A total of 42,323,590 common shares were issued for gross cash proceeds of approximately CAD$19.0 million, with no finder's fees or commissions paid [10][11] Business Strategy and Product Development - The net proceeds from the offering will be utilized to support the sales and production of the NH-150 electrolyzer and the development of the larger NH-500 system, aimed at unlocking substantial industrial opportunities [4][6] - Next Hydrogen's technology is designed for scalable deployment and direct integration with renewable energy sources, enhancing its competitive edge in the clean hydrogen market [5][6] Regulatory Environment and Market Position - The Canadian government is advancing supportive frameworks for clean hydrogen, including an investment tax credit of up to 40% for eligible projects, creating a favorable regulatory environment for the industry [8] - Next Hydrogen is positioned as a clean-technology champion in Canada, with the potential to support domestic energy security and provide globally competitive hydrogen solutions [6][7] Leadership Changes - Following the offering, Stephen Griggs from Smoothwater joined as Executive Chair of the Board, bringing extensive experience in operational discipline and governance [9][10] - Paul Currie, a seasoned business executive, also joined the Board, contributing significant global experience to guide the company in its transition to a commercial product-focused business [9][10] Technology and Market Applications - Next Hydrogen's pressurized alkaline electrolyzers are validated as commercially deployable solutions, delivering high performance and exceeding U.S. DOE targets for green hydrogen production [5][6] - The modular architecture of Next Hydrogen's systems supports deployment across various project sizes and applications, including industrial decarbonization and energy storage [6]

Core Viewpoint - Next Hydrogen Solutions Inc. is initiating a non-brokered private placement of common shares to raise between CAD$20 million and CAD$30 million, aimed at transitioning from a development-stage company to a commercially focused business [1][2][3] Group 1: Offering Details - The private placement will be priced at CAD$0.45 per share and is expected to close around November 28, 2025, pending regulatory approvals [1][2] - The company has already secured signed subscription agreements totaling over CAD$20 million from Smoothwater and other significant shareholders [4] Group 2: Leadership and Strategic Direction - The Board of Directors supports the private placement to enhance product research and development, with Smoothwater Capital Corporation leading the investment [3] - Following the offering, Smoothwater is expected to become the largest shareholder, and its CEO, Stephen Griggs, will join as Executive Chair of the Board [3] Group 3: Use of Proceeds - The net proceeds from the offering will be utilized to accelerate sales and manufacturing of the NH150 electrolyzer, complete the development of the NH500 electrolyzer, and for general corporate purposes [5] Group 4: Company Background - Next Hydrogen, founded in 2007, specializes in designing and manufacturing hydrogen electrolyzers that convert water and electricity into clean hydrogen, supported by 40 patents [10] - The company's technology aims to provide commercial solutions for decarbonizing transportation and industrial sectors [10]