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Next Hydrogen Closes $20.7M Equity Private Placement led by Smoothwater Capital Corporation

On December 17, 2025, Next Hydrogen Solutions Inc. closed a non‑brokered private placement in Mississauga, issuing 42,323,590 Common Shares for gross cash proceeds of approximately CAD$19.0 million.
Next Hydrogen said the capital will fund growing sales and production of the NH‑150 electrolyzer and continued development of the larger NH‑500 system, marking its transition to a commercially focused, capital-efficient business.
The financing structure included concurrent settlements and conversions, with Smoothwater Partners NHX Limited Partnership holding 47.9%, settling $560,527.37 of Creditors' debt and $1,125,000 of debentures under TSXV policies.
Stephen Griggs joined the Company as Executive Chair and Paul Currie joined the Board while Allan Mackenzie stepped down as Chair and Susan Uthayakumar left the Board, with Griggs receiving 1,000,000 options and $225,000 per year.
This financing positions Next Hydrogen Solutions Inc. as a Canadian clean‑technology champion while governments advance incentives such as an investment tax credit up to 40% for eligible clean hydrogen projects.

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Next Hydrogen Closes $20.7M Equity Private Placement led by Smoothwater Capital Corporation

MISSISSAUGA, Ontario, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. ("Next Hydrogen" or the "Company") is pleased to announce the successful closing of its previously announced non-brokered private placement (the "Offering") of 46,069,198 common shares of the Company ("Common Shares") at a price of CAD$0.45 per share (the "Offering Price"), raising gross proceeds of approximately $20.7 million (inclusive of the Shares for Debt T…

5 days ago·New York, United States

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