Next Hydrogen Solutions Inc. Reports Q2 2026 Financial Results and Announces Appoint of Jocelyne Moyer as President and CEO

MISSISSAUGA, Ontario, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (“Next Hydrogen”) (TSXV:NXH), a leading Canadian designer and manufacturer of clean hydrogen electrolyzers, reports its financial results for the second quarter ended June 30, 2026 and announces the appointment of its President and CEO and as a director as of September 1, 2026.

2026 Q2 Financial Highlights

• Revenue was $878,738 for the three months ended June 30, 2026 and $1,179,621 for the six months ended June 30, 2026, compared to $247,652 and $606,516 for the same periods in the prior year. The increase was driven by revenue recognition on significant development contracts.
• Net loss and comprehensive loss was $2,928,747 for the three months ended June 30, 2026 and $5,724,158 for the six months ended June 30, 2026, substantially consistent with $2,920,012 and $5,860,424 for the same periods in the prior year.
• Cash balance was $12,170,278 as at June 30, 2026, compared to $18,516,086 as at December 31, 2025. The decrease primarily reflects operating cash outflows and capital expenditures during the period.
  

Appointment of President and Chief Executive Officer

The Board of Directors is pleased to announce the appointment of Jocelyne Moyer as the President and Chief Executive Officer of Next Hydrogen and its subsidiaries and a director of the Company effective September 1, 2026. As previously announced, Raveel Afzaal, will transition from the CEO role and leave the board as of August 31, 2026.

Ms. Moyer holds a Bachelor of Engineering and Management in Mechanical Engineering from McMaster University and a Master of Business Administration from Harvard Business School. She began her career in front line plant and operations management and in supply chain optimization with major companies including Maple Leaf Foods and PepsiCo. She also worked from 2016 to 2022 at Bain & Company advising senior executive teams of industry leading companies on critical strategic issues. Ms. Moyer joined Heliolytics in 2022 as Director of Strategy and Operations and became General Manager in 2023, shortly before its acquisition by Zeitview. She held progressively senior roles at Zeitview, leaving as SVP Strategy and Operations in May 2026.

“On behalf of the Board, we are delighted to welcome Jocelyne to Next Hydrogen. Her background as an engineer, and her years in business focusing on strategy and operations, will be of great value as we build on our commercially deployed flagship system, grow our base of industrial partners, and strengthen our financial position to support our next phase of growth”, said Stephen J. Griggs, Executive Chair. “Jocelyne will be working closely with me as Executive Chair and Paul Currie, Vice Chair, as we focus the business on the commercialization of our core system and explore and execute on strategic initiatives in the coming months.”

“I'm honored to join Next Hydrogen at such a pivotal point in its growth,” said Joycelyne Moyer, incoming President and Chief Executive Officer. “This team has done the hard work of proving out a strong flagship system, and I'm looking forward to building on that foundation together — deepening our industrial partnerships, sharpening our commercial approach in the markets where we're best positioned to win, and putting the operational discipline in place to scale with confidence. I look forward to working closely with Stephen, Paul, and the whole team to deliver on that next chapter.”

Recent Business Milestones

Several recent milestones demonstrate the significant progress by Next Hydrogen:

• In June 2026, Next Hydrogen announced a collaboration agreement with Fusion Fuel Cycles Inc. ("FFC"), to demonstrate purpose-built electrolyzers for the fusion industry. The collaboration builds on the two contracts awarded by FFC to Next Hydrogen in March 2026. Under these contracts, Next Hydrogen will engineer and deliver an electrolyzer for the extraction of tritium — the fuel of fusion — from heavy water, to be integrated into FFC's overall fusion fueling system. The collaboration represents an important step in advancing Next Hydrogen’s technology for specialized fusion applications and deepening its engagement with FFC.
  
• In March 2026, Next Hydrogen was awarded two contracts with a combined value of approximately $3.75 million to demonstrate our advanced electrolyzer technology solution within a highly specialized nuclear fusion application. Under these agreements, Next Hydrogen will deliver a customized electrolyzer system tailored to the stringent performance, reliability and operating parameters required within advanced nuclear environments. Revenue under these contracts is expected to be fully earned by Q1 2027, with the majority earned during 2026. The award further validates the technical differentiation of the Company's electrolyzer platform and its suitability for some of the most demanding industrial applications.
  
• In December 2025, Next Hydrogen successfully closed a $20.7 million non-brokered private placement of 46,180,309 common shares at $0.45 per share, including $560,527 in debt conversion and $1,125,000 in debenture conversion at the same price per share. The offering was led by an affiliate of Smoothwater Capital Corporation, which became the largest shareholder with approximately 48.1% ownership. Stephen Griggs, CEO of Smoothwater, joined the Company as Executive Chair of the Board.
  

For a more detailed overview of Next Hydrogen’s second quarter 2026 results, please refer to Next Hydrogen’s financial statements and management’s discussion and analysis, which are available at nexthydrogen.com or on SEDAR+ at www.sedarplus.ca. 

About Next Hydrogen

Founded in 2007, Next Hydrogen is a designer and manufacturer of alkaline electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Supported by over 40 patents, Next Hydrogen’s unique cell design architecture enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale.

Contact Information

Stephen J. Griggs, Executive Chair
sgriggs@nexthydrogen.com
416 986 2207
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; cell efficiency targets; expected order sizes for the product line; customer relationships and customer terms for testing of products at a customer site; the ability of the Corporation to optimize energy efficiencies; the Corporation’s available resources; uncertainty with respect to the timing of any contemplated transactions, joint ventures or partnerships, or whether such contemplated transactions, joint ventures or partnerships will be completed at all; 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.