Feds provide $2M for renewable energy company in Mississauga

A Mississauga renewable energy company is getting a boost from the Canadian government.

Next Hydrogen Corporation, a Mississauga-based clean tech company, will get a $2-million repayable contribution from the federal government, Filomena Tassi, minister responsible for the Federal Economic Development Agency for southern Ontario announced on Tuesday.

“Investments in clean technology bolster Canada’s position as a global leader in green manufacturing and support a cleaner future for all while creating sustainable jobs,” Tassi said.

Founded in 2007, Next Hydrogen Corporation is a designer and manufacturer of innovative water electrolyzers, a patented cell that directly connects with renewable energy resources to produce large-scale and cost-effective green hydrogen, according to a press release from the Federal Economic Development Agency.

The company is starting new manufacturing processes to increase production of its electrolyzer modules for large-scale, green hydrogen producers.

The funds will help Next Hydrogen address increased demand from clients, including those in the transportation and industrial sectors.

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The company’s customer and partner base includes Atomic Energy of Canada Limited, Canadian Tire, Hyundai, Kia, GE Vernova and more.

“We are delighted with FedDev Ontario’s support for our acceleration in manufacturing readiness and business development efforts,” said Raveel Afzaal, president and CEO, Next Hydrogen Corporation.

“This funding will assist us in achieving important milestones, including ISO 9001 certification, as well as process, quality, and supply chain development activities to position us as a leader in the water electrolysis industry.”

Next Hydrogen also received a $5 million grant from Sustainable Development Technology Canada last year.

Lead photo: Pixabay

Editor’s note: This story was updated to replace the word loan with repayable contribution.