Mr. Raveel Afzaal reports

NEXT HYDROGEN SIGNS MOU WITH BLACK & VEATCH TO DEVELOP LARGE SCALE INTEGRATED GREEN HYDROGEN SOLUTIONS

Next Hydrogen Solutions Inc. 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 its 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 chief executive officer 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 solutions."

"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, multimegawatt green hydrogen solution and identify areas of deeper collaboration and specific opportunities worldwide.

About Next Hydrogen Solutions Inc.

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.

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