Next Hydrogen Optimistic Despite Net Loss

Next Hydrogen Solutions Inc (TSE:NXH) has released an update.

Next Hydrogen Solutions Inc. reports a promising end to fiscal year 2023, with significant technological advancements in electrolyzer efficiency, a growing backlog of contracted sales from $3M to $8M, and strategic partnerships, including with GE and Casale. Despite a net loss, the company remains optimistic for 2024, with a strong cash balance of $10.9M to reach its objectives, including demonstrating its system onsite and doubling its backlog. Next Hydrogen also secured major funding for product development and a repeat project worth $7.7M, positioning it as a leader in green hydrogen technology.

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