Canada's Next Hydrogen to expand US presence

Image: Next Hydrogen.

November 1 (Renewables Now) - Canadian pure-play hydrogen electrolysers manufacturer Next Hydrogen Solutions Inc (TSXV:NXH; OTCQB:NXHSF) on Monday announced a cross-listing on the OTCQB Venture Marketplace, a US trading platform operated by the OTC Markets Group, in a bid to broaden its pool of investors.

The company's stock will continue to trade on the venture segment of the Toronto Stock Exhange, where its current market capitalisation amounts to CAD 116.9 million (USD 94.5m/EUR 81.1m).

The company will also work to expand its US presence through the creation of a local subsidiary, Next Hydrogen USA Inc. The unit will seek US renewable energy grants and incentives, take part in US infrastructure projects and boost the Canadian firm’s sales opportunities.

"Next Hydrogen is poised to be a significant contributor to reducing carbon emissions in the US transportation and industrial markets and we are excited to establish a presence there. Listing on the OTCQB will help us enhance our liquidity by providing our current and future American investors with a more accessible market," Next Hydrogen president and CEO Raveel Afzaal said.

Founded in 2007, Mississauga-based Next Hydrogen is working on commercialising its cell design technology that helps convert intermittent renewable electricity into green hydrogen for use as carbon-free fuel in the transportation and industrial sectors.

(CAD 1 = USD 0.810/EUR 0.695)

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