Hydrogen Hype Or Hope? — Can Companies Like This One Help Usher In A Greener Future?

Hydrogen energy has been touted as a green solution to the world’s energy problems for years, with companies like Air Products & Chemicals Inc. APD and Plug Power Inc. PLUG investing heavily in the space. 

The technology has much possible potential in delivering on the promise of a green future. However, a major drawback has kept the technology from taking its place at the forefront of global green energy efforts.

Hydrogen is abundant. In fact, it is the most abundant element in the universe, accounting for three-quarters of all matter. It is also an incredible energy source. It is the primary fuel source for the very sun that facilitates life on earth.

And what's more, it can be “mined” from water through a process known as electrolysis. In this process, an electric current is run through water, splitting the bonds between the hydrogen and oxygen atoms, yielding pure forms of both elements. The reverse of this process is used to power electric motors with no harmful emissions. Many hope this could be used to replace the use of fossil fuels in vehicles the world over.

The issue is where the electricity for the process of electrolysis comes from. Renewable sources are generally not consistent, which has thus far been important to effective electrolysis. Wind, solar and other renewable sources are at the whim of nature. 

However, Next Hydrogen Solutions Inc. NXH NXHSF is excited to demonstrate their innovative solution. The company says its technologies allow for renewable sources to be harnessed without the need for the consistency of nonrenewable sources. Next Hydrogen is nearing the completion of its 27,000 square foot facility, which would enable the production of 20MW of annual assembly capacity, and up to 40MW if a second shift is added.

Bites by the numbers:

• Next Hydrogen raised $55.5 million in the past year 
• The team has over 140 collective years of experience.
• Next Hydrogen holds 39 patents with many more pending applications.
• Hydrogen is a $120 billion annual global market.
• 75 counties around the world have net zero carbon goals.
• Fewer than 10 notable electrolyzer players globally. 
• Next Hydrogen’s competitive advantages, Higher Current Density (up to 2.5x current density, Superior Dynamic Response (captures fluctuations in energy at 5% per second compared to competing systems that are 5% per minute), Scalable Design (able to scale up power by a factor of 300%).
• Next Hydrogen holds 39 patents for a revolutionary electrolyzer design to produce green hydrogen at the lowest cost

Next Hydrogen believes that its technology may be an exciting step toward a greener future. It is already working with Canadian Tire CTC, Hyundai Motors (KRX: 005380), Kia (KRX: 000270), and Black & Veatch to commercialize its electrolyser. If you are interested in learning more, check out https://nexthydrogen.com/.

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Feature Photo by Appolinary Kalashnikova on Unsplash