Next Hydrogen
Next Hydrogen is a Canadian designer and manufacturer of alkaline water electrolyzers, offering patented cell architecture (40 patents) for producing green hydrogen from renewable electricity. It serves industrial, transportation, aviation, and nuclear sectors with modular products ranging from 0.75MW to 8MW.
- Company typePublic
- Founded2007
- HeadquartersMississauga, Canada
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Next Hydrogen does
Next Hydrogen Solutions Inc. is a Canadian designer and manufacturer of alkaline water electrolyzers for green hydrogen production, headquartered in Mississauga, Ontario. Founded in 2007 and publicly listed on the TSX Venture Exchange (NXH) since June 2021, the company has developed a patented cell design architecture (supported by 40 patents) that enables high current density operations and superior dynamic response to intermittent renewable electricity. Its product portfolio spans the NH-150 commercial electrolyzer, the GEN2 modular line (available in 0.75MW, 1.5MW, and 2.25MW configurations), and the GEN3 electrolyzer (up to 8MW per module) currently in pilot testing for large-scale applications such as green ammonia and sustainable aviation fuel.
The company generates revenue primarily through hardware sales of electrolyzer systems and professional services for system integration and design engineering, with quote-based custom pricing on multi-year contracts. Its customer base is concentrated among enterprise accounts in industrial chemicals (Casale for green ammonia/methanol), transportation (Canadian Tire for material handling fueling, Hyundai/Kia for alkaline system co-development), aviation (Pratt & Whitney Canada under the INSAT program), nuclear energy, and power systems (GE Vernova). Distribution is executed via direct enterprise sales, complemented by strategic channel partners including GE Vernova, Casale, Black & Veatch, and an Asian electrolyzer manufacturer providing gigawatt-scale manufacturing access.
FY2025 revenue was $3.4 million, up from $1.4M in FY2024 and $1.0M in FY2023. The company maintains ISO 9001-2015 and ISO 45001-2018 certifications and operates a US subsidiary (Next Hydrogen USA, Inc.). Strategic capital partners include Sustainable Development Technology Canada, Export Development Canada, FedDev Ontario, and NRC IRAP. In December 2025, Smoothwater Capital Corporation led a CAD$20.7 million private placement, becoming the largest shareholder at approximately 47.9% of issued shares and installing its CEO as Executive Chair of Next Hydrogen.
Next Hydrogen firmographics
Firmographics- Name
- Next Hydrogen
- Legal name
- Next Hydrogen Solutions Inc.
- Website
- https://nexthydrogen.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Next Hydrogen is a Canadian designer and manufacturer of alkaline water electrolyzers, offering patented cell architecture (40 patents) for producing green hydrogen from renewable electricity. It serves industrial, transportation, aviation, and nuclear sectors with modular products ranging from 0.75MW to 8MW.
- Ownership category
- akta.pro rank
Next Hydrogen industry classification
Industry- Product category
- Green Hydrogen Electrolyzers
- NAICS
- Turbine and Turbine Generator Set Units Manufacturing (333611)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)
Keywords
Where Next Hydrogen is headquartered
LocationHeadquarters
- HQ city
- Mississauga
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Next Hydrogen business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales
Revenue model
- Electrolyzer System Sales: Sale of water electrolyzer systems and modules for green hydrogen production. Revenue generated from commercial electrolyzer deliveries, with product line spanning 0.75MW to 8MW modules.
- Professional Services and Integration: Design engineering, system integration, and demonstration services associated with electrolyzer deployments, including Phase 1 design engineering and Phase 2 electrolyzer delivery for specialized projects.
- Strategic Partnership Development: Revenue from development work and purchase orders under strategic partnerships, including integration work with Casale for green ammonia and methanol systems.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom electrolyzer system pricing based on capacity and configuration |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Next Hydrogen product offering
Product offeringCore offering
Next Hydrogen designs and manufactures alkaline water electrolyzers that convert intermittent renewable electricity into green hydrogen at infrastructure scale. Its product portfolio includes the NH-150 and NH-500 commercial systems, the modular GEN2 line (0.75MW–2.25MW), and the GEN3 platform (up to 8MW per module). The company supports customers with design engineering, system integration, demonstration services, installation, and ongoing maintenance for electrolyzer deployments.
Product overview
Next Hydrogen is a designer and manufacturer of water electrolyzers for green hydrogen production. The company offers a product portfolio consisting of the NH-150 and NH-500 commercial electrolyzer systems, the GEN2 modular product line (available in 0.75MW, 1.5MW, and 2.25MW sizes), and the third-generation GEN3 electrolyzer (up to 8MW per module) currently in development. The company provides alkaline water electrolysis technology with unique cell design architecture that enables high current density operations and superior dynamic response for converting intermittent renewable electricity into green hydrogen. Supporting services include installation, testing, integration, and maintenance.
Differentiator
Problem solved
Functional benefit
Products and services
- NH-150 Electrolyzer
- NH-500 System
- GEN2 Modular Electrolyzer
- GEN3 Electrolyzer
- Hydrogen Services
Quantifiable outcome
- Cell performance of 1.90 V/cell at 1 A/cm2 and 70°C exceeds US DOE technical targets for energy efficiency
- +5 more outcomes
Companies that use Next Hydrogen
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
Next Hydrogen technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Next Hydrogen partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Nuclear Application PartnerscoreTwo contracts totaling approximately $3.75 million to demonstrate electrolyzer technology in specialized nuclear applications. Next Hydrogen delivering customized electrolyzer system designed for high-performance and reliability in nuclear environments.
- Asian Electrolyzer ManufacturercoreWide-ranging strategic cooperation with an Asian electrolyzer manufacturer to accelerate commercialization and scale-up of Next Hydrogen's innovative water electrolysis technology. Partnership provides access to gigawatt-scale manufacturing capacity while Next Hydrogen maintains control over intellectual property and electrolyzer design.
- Pratt & Whitney CanadacoreINSAT-supported collaboration to demonstrate hydrogen in aircraft engines (HyADES project). Next Hydrogen developing high-efficiency low-cost electrolyzers for hydrogen production infrastructure for aviation. Pratt & Whitney Canada demonstrating hydrogen combustion on PW127XT turboprop engine. Project partially funded by Canada's Initiative for Sustainable Aviation Technology.
- University of Minnesota (WCROC)minorContract awarded for Next Hydrogen's third-generation alkaline water electrolyzers to be installed at UMN West Central Research and Outreach Center. Project supported by US DOE ARPA-E with partners including Casale, GE, Nutrien, Shell, and others to demonstrate ammonia production from renewable energy. System scheduled for 2025 operation.
- GE VernovacoreMoU signed to integrate Next Hydrogen's electrolysis technology with GE Vernova's power systems for green hydrogen production. GE Vernova provides power conversion and supply; Next Hydrogen provides water electrolyzer. Collaboration includes installation, testing, and integration of systems. GE serves as both channel and execution partner for US market entry.
- Casale SAcoreNon-exclusive MoU to develop green ammonia and methanol systems integrating Next Hydrogen's electrolysis technology with Casale's plant systems. Casale is among top global providers of fertilizer and chemical plant technologies. Follow-on purchase orders received for testing operational profiles and optimization for integration. Contemplates bundling electrolysers with Casale ammonia skids for turnkey solutions.
- Black & VeatchminorMoU signed to develop large-scale integrated green hydrogen solutions for industrial customers. Next Hydrogen selected for Black & Veatch's IgniteX Climate Tech Accelerator program. Collaboration to offer complete integrated solutions for producing large-scale green hydrogen.
- New York State Energy Research and Development Authority (NYSERDA)minorMoU signed as part of initial group of 40 hydrogen ecosystem partners to develop proposal for US Northeast Hydrogen Hub under the US DOE regional clean hydrogen hub program.
- Hyundai Motor CompanycoreSigned MOU to jointly develop an advanced alkaline water electrolysis system for economically producing green hydrogen. Hyundai contributing electrode, bipolar plate and current collector component technology; Next Hydrogen providing stack design technology. Pilot test planned and potential commercial arrangements to follow. Part of Hyundai's HTWO hydrogen fuel cell brand strategy.
- Kia CorporationcoreJointly with Hyundai Motor, signed MOU to develop advanced alkaline water electrolysis system for green hydrogen production. Exploring technological applications and commercial arrangements for hydrogen society advancement.
Scale indicators15 records
Recent moves8 records
Expansion highlights7 records
Next Hydrogen competitors and assessment
Company assessmentDirect peers
- Nel ASA: Norwegian electrolyzer manufacturer producing both alkaline and PEM electrolyzers for green hydrogen production. Directly comparable as a publicly listed pure-play electrolyzer vendor with a similar end-market focus on industrial and mobility applications.
- ITM Power: UK-based PEM electrolyzer manufacturer with a similar profile as a small-cap public pure-play in green hydrogen production equipment. Comparable as a publicly listed electrolyzer specialist competing for the same industrial and mobility customers.
- Thyssenkrupp Nucera: German electrolyzer specialist (spun out of Thyssenkrupp) with leading alkaline water electrolysis technology. Direct peer in large-scale alkaline electrolyzers targeting green ammonia, refining, and industrial hydrogen applications.
- McPhy Energy: French electrolyzer manufacturer specializing in alkaline and PEM water electrolysis for green hydrogen production. Comparable small-cap European electrolyzer pure-play competing for industrial and mobility hydrogen projects.
- John Cockerill: Belgian industrial group with a hydrogen business producing large-scale alkaline and PEM electrolyzers. Directly comparable as a multi-MW electrolyzer vendor targeting green hydrogen for industrial applications.
Broad incumbents
- Plug Power: US-based broad hydrogen incumbent building a hydrogen ecosystem spanning PEM electrolyzers, fuel cells, and refueling infrastructure. Comparable as an electrolyzer competitor targeting similar industrial and mobility customers but with far greater scale and vertical integration.
- Ballard Power Systems: Canadian-based hydrogen fuel cell and electrolyzer company with overlapping hydrogen economy exposure. Comparable as a publicly traded Canadian hydrogen company with adjacent technology and similar investor base, though focused on fuel cells more than electrolyzers.
- Cummins (Accelera): Diversified US power and hydrogen incumbent whose Accelera segment manufactures PEM electrolyzers. Comparable in offering electrolyzers to industrial customers but with the backing of a much larger industrial conglomerate and broader product portfolio.
- Siemens Energy: Global energy technology incumbent with a hydrogen/PEM electrolyzer business and partnerships across the hydrogen value chain. Comparable as a large strategic player providing electrolyzers and power conversion, but operating with vastly greater scale and a broader portfolio.
Emerging players
- Ohmium International: US-headquartered PEM electrolyzer manufacturer with strong focus on modular products for industrial and mobility customers. Comparable as an emerging electrolyzer specialist with similar modular product strategy and target end markets.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Next Hydrogen social profiles
Digital presenceNext Hydrogen compliance and trust
Trust signalCompliance2 records
Next Hydrogen financial estimates
Financial estimateRevenue estimate
Valuation estimate
Next Hydrogen leadership team
Management profileNumber of profiles
Profiles15 records
Next Hydrogen subsidiaries and ownership
Company hierarchySubsidiaries1 record
Next Hydrogen funding detail
Funding detailFunding overview
Funding rounds7 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Next Hydrogen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Next Hydrogen
What does Next Hydrogen do?
Next Hydrogen designs and manufactures alkaline water electrolyzers that convert intermittent renewable electricity into green hydrogen at infrastructure scale. Its product portfolio includes the NH-150 and NH-500 commercial systems, the modular GEN2 line (0.75MW–2.25MW), and the GEN3 platform (up to 8MW per module). The company supports customers with design engineering, system integration, demonstration services, installation, and ongoing maintenance for electrolyzer deployments.
Is Next Hydrogen a public or private company?
Next Hydrogen is a public company. It is classified as public and is currently operating.
When was Next Hydrogen founded?
Next Hydrogen was founded in 2007. It employs 51 to 100 people.
Where is Next Hydrogen based?
Next Hydrogen is headquartered in Mississauga, Canada, in the North America region.
How does Next Hydrogen make money?
Three revenue lines are on record. Electrolyzer System Sales are the primary driver. The others are professional Services and Integration and strategic Partnership Development.
Who are Next Hydrogen's main competitors?
Direct peers on record are Nel ASA, ITM Power, Thyssenkrupp Nucera, McPhy Energy and John Cockerill. Broad incumbents are Plug Power, Ballard Power Systems, Cummins (Accelera) and Siemens Energy. Ohmium International is listed as an emerging player.
Does Next Hydrogen have an API?
No public API is recorded for Next Hydrogen.
What industry is Next Hydrogen in?
Next Hydrogen's product category is Green Hydrogen Electrolyzers. Its primary akta.pro industry code is IMAGAHAM, Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems). Its NAICS code is 333611 and its SIC code is 3600.