Apr. 22 at 12:10 PM
$NXHSF Next Hydrogen Solutions reports Q4 revenue C
$0.8M vs. C
$0.6M last year
Net loss and comprehensive loss for the three-month period ended December 31, 2023 was C
$3.3M compared to C
$3.2M in the prior year."We had a very promising end to 2023 with: our electrolyzer exceeding US DOE energy efficiency targets, showing 30% lower capex and successfully graduating from pilot scale testing to commercial module builds, growing our backlog from
$3M at the beginning of the year to
$8M contracted, with a
$3M follow-on order expected, and announcing strategic partnerships with Casale and GE," said Raveel Afzaal, President & CEO.
"In 2024, we intend to: demonstrate our system at a customer site, further improve our energy efficiency to exceed US DOE 2026 targets to world class efficiency levels, complete pilot scale testing of our large-scale product line targeting large scale 100MW+ solutions, and double our growing backlog. With extensive inhouse testing of our electrolyzers and a fully financed business plan for 2024, we are looking forward to a transformative 2024."
