The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) recently announced a $2 million repayable investment for Next Hydrogen Corporation, a Mississauga-based company specializing in innovative electrolyzers.
These devices use water and electricity to produce clean hydrogen, providing a renewable energy source.
Next Hydrogen is set to enhance its manufacturing processes to produce more cost-effective electrolyzer modules for large-scale green hydrogen producers. This funding will help the company meet the growing demands from sectors like transportation and industry. The government’s support aims to reduce greenhouse gas emissions and strengthen Canada’s position as a leader in green manufacturing.
Alongside Next Hydrogen, Pulp Moulded Products Inc. in Newmarket will receive $1.3 million in repayable investments. Specializing in recyclable and compostable moulded-fibre packaging, the company plans to expand its operations. The new funding will support the development of pressing and manufacturing lines, addressing the increasing demand for sustainable packaging alternatives in the food, beverage, automotive, and electronics markets.
These investments demonstrate the Canadian government’s commitment to driving clean economic growth and sustainable job creation. As Honourable Filomena Tassi, Minister Responsible for FedDev Ontario, expressed, clean-tech companies are crucial for meeting Canada’s carbon-reduction objectives while contributing to a greener future.
Community Support
Iqwinder Gaheer and Tony Van Bynen, local officials, underscored the importance of these investments in strengthening local innovations and job opportunities in Southern Ontario. The funding will enable Next Hydrogen and Pulp Moulded Products to tackle crucial milestones, such as achieving ISO 9001 certification and improving supply chain and quality processes.
