Next Hydrogen Solutions Inc. (V:NXH)
Business Focus: Renewable Fuels (NEC)
| Sector: Energy | Industry: Renewable Fuels |
| Company Contact | |
| Address: | 6610 Edwards Blvd MISSISSAUGA ON L5T 2V6 |
| Tel: | N/A |
| Website: | https://nexthydrogen.com |
| IR: | See website |
| Key People | ||
| Raveel Afzaal President, Chief Executive Officer, Director | Matthew Fairlie Executive Vice Chair of the Board | Rohan Advani Chief Financial Officer |
| Jim Hinatsu Chief Operating Officer | Michael Stemp Chief Technology Officer | |
| Business Overview |
| Next Hydrogen Solutions Inc. is a Canada-based designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. The Company's cell design architecture is supported by approximately 40 patents, which enables high-current density operations to convert intermittent renewable electricity into green hydrogen on an infrastructure scale. The Company is focused on scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors. Its product is a large-scale hydrogen generator, which makes hydrogen at the user's site from common plant utilities - water and electricity. The hydrogen generator system uses water electrolysis to generate high-purity hydrogen on demand. The Company's products include Model NH-100, Model NH-300 and Model NH-500. The Company's Industrial Hydrogen is used for many processes such as refining and fertilizer production. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Next Hydrogen Solutions Inc. revenues increased 32% to C$952K. Net loss decreased 16% to C$12M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects Research and development decrease of 8% to C$7.1M (expense), General and administrative decrease of 10% to C$4.7M (expense). |
| Employees: | 60 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $5.74M as of Dec 31, 2023 |
| Annual revenue (TTM): | $0.95M as of Dec 31, 2023 |
| EBITDA (TTM): | -$10.79M as of Dec 31, 2023 |
| Net annual income (TTM): | -$12.01M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$10.75M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 22,903,468 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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