Next Hydrogen Announces Director Resignation

MISSISSAUGA, Ontario, July 13, 2023 (GLOBE NEWSWIRE) -- Hydrogen Solutions Inc. (the "Company" or "Next Hydrogen") (TSXV:NXH, OTC:NXHSF) announces today that it has accepted the resignation of Mike Pyle from the Board of Directors of the Company.

"Mike's contribution to Next has been formidable despite his very busy schedule," said Allan Mackenzie, Chair of the Board. "His depth of experience and business acumen have had profound impact on us being able to optimize our positioning and to pull together the team we have built. On behalf of the board of directors, management and our shareholders, we thank him for his service to our company and its mission."

"I want to thank Allan and Raveel for the opportunity to participate in the development and growth of Next Hydrogen. Its unique technology will be a great contributor to Canada's green economy in the future," stated Mike Pyle. "Multiple commitments with EIC and other not-for-profit ventures in Winnipeg have led me to the decision that this is the time to step back from a director's role at Next Hydrogen."

About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source or an industrial feedstock. Next Hydrogen's unique cell design architecture supported by 40 patents enables high current density operation and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.

Contact Information

Raveel Afzaal, CFA
President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: [email protected]
Phone: 647-961-6620
www.nexthydrogen.com

Cautionary Statements
This news release contains "forward-looking information" and "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; the uncertainty of estimates and projections relating to costs and expenses; failure to obtain necessary regulatory approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.