Mr. Raveel Afzaal reports

HIGH EFFICIENCY ELECTROLYSER CELLS COMPLETE KEY DURABILITY TEST

Next Hydrogen Solutions Inc. has successfully completed an extended durability test of its GEN2 electrolysis cells used in the efficient production of green hydrogen. The GEN2 cells will now be deployed in Next Hydrogen electrolyzers at customer sites for commercial operation.

Next Hydrogen previously reported that it achieved leading efficiency of its GEN2 cells in October, 2023. The GEN2 cell performance of lower than 1.9 volts per cell at one ampere per square centimetre and, at 70 C, exceeds reported U.S. Department of Energy (DOE) technical targets status for energy efficiency while maintaining a two times higher peak operating point. Further, a turndown of 10 per cent demonstrated best-in-class performance and an optimal solution for direct connection to renewables to produce green hydrogen.

Equally important is the cell performance durability, and widely accepted testing protocols have been applied to confirm minimal degradation under intermittent operation as required for renewable-energy-supplied systems. Furthermore, 3,000 hours of cyclic testing have recently been successfully surpassed, providing the confidence to commercially deploy.

The GEN2 cells will be applied to Next Hydrogen's modular product line in sizes of 0.75 megawatt, 1.5 megawatts and 2.25 megawatts and offer the best commercially available performance features.

Raveel Afzaal, president and chief executive officer of Next Hydrogen, stated: "This represents a significant milestone for us as we move into product commercialization. We are also upsizing our products and plan to demonstrate an even larger and more efficient GEN3 product version in 2025 based on leveraging our GEN2 success."

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 40 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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