MISSISSAUGA, ONT. — The federal government has announced funding for Next Hydrogen Corporation, a Mississauga-based clean tech manufacturer that develops electrolyzers using water and electricity to produce hydrogen as an energy source.
The government has committed to $2 million in repayable financing to help Next Hydrogen increase production of its electrolyzer modules, stated a release. The company’s customer and partner base includes Atomic Energy of Canada, Canadian Tire, Hyundai, Kia and GE Vernova.
In addition, financing will be allocated to Pulp Moulded Products Inc., a Newmarket-based manufacturer specializing in recyclable and compostable molded fibre packaging for the food and beverage, automotive and electronics markets.
The $1.3-million repayable financing commitment will enable the firm to boost its operations through the addition of new pressing and manufacturing lines.
The company’s products are an alternative to single-use plastic packaging.
The federal funding comes from the Federal Economic Development Agency for Southern Ontario.
“We are delighted with FedDev Ontario’s support for our acceleration in manufacturing readiness and business development efforts. 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,” stated Next Hydrogen CEO Raveel Afzaal in a statement.
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