09:15 AM EST, 12/09/2024 (MT Newswires) -- Next Hydrogen Solutions ( NXHSF ) said on Monday that it received a letter of interest from Export Development Canada for up to $5 million in working capital debt financing.

The company said EDC's potential financing commitment and terms are contingent upon its satisfactory completion of technical, environmental, social and governance, financial and commercial due diligence.

"We see significant export potential for our innovative electrolyzers to enable decarbonization of hard-to-abate sectors of the economy," said Next Hydrogen president and chief executive officer Raveel Afzaal.

Shares of the company were flat at $0.42 at last close on the TSX Venture Exchange.