Next Hydrogen Solutions Inc., a designer and manufacturer of electrolyzers based in Mississauga, Ontario, has announced a private placement of unsecured convertible debentures amounting to $3,000,000. The Debentures are set to mature under specific conditions and will bear interest at a rate of 10.0% per annum, with the option for holders to convert into common shares of the company. The company plans to utilize the proceeds from this Offering to support their scale-up efforts and for general corporate purposes. Next Hydrogen is focused on using water and electricity to produce clean hydrogen for energy applications, aiming to contribute to the decarbonization of transportation and industrial sectors. Founded in 2007, Next Hydrogen is known for its unique cell design architecture and holds 40 patents in the field. The company's technology enables high current density operations for efficient conversion of intermittent renewable electricity into green hydrogen at an infrastructure scale. After successful pilots, Next Hydrogen is now in the process of scaling up its technology to provide commercial solutions. The private placement is being offered in Canada and in offshore jurisdictions under exemptions from prospectus requirements. However, it's important to note that the Debentures are not qualified for public sale under Canadian securities laws and are not registered under the United States Securities Act. This strategic move by Next Hydrogen is a step towards their goal of commercializing their technology for widespread use in the clean energy sector. The company's President and CEO, Raveel Afzaal, expressed optimism about the Offering, highlighting the potential impact on advancing green hydrogen production. The private placement is contingent on receiving regulatory approvals, including from the TSX Venture Exchange. While there is no guarantee of completion, the initiative aligns with Next Hydrogen's vision of delivering sustainable solutions for a greener future.