Pure Hydrogen Generates First Revenues With Delivery of Zero Emission Mini-Buses

Pure Hydrogen Corporation Ltd (ASX: PH2) has reached a company milestone with the successful delivery of two EV70 electric mini-buses to the Sapphire Coast Buslines in New South Wales.

The sale represents the first revenue and the funds have been received, and were completed through a 60% owned subsidiary, HDrive International.

This highlights the market potential for Pure Hydrogen’s leading suite of BEV (Battery Electric Vehicle) buses to major transport companies in domestic and international markets.

It also confirms the company’s ability to execute its stated strategy to the manufacture and sale of state-of-the-art zero-emission vehicles, with a strategic focus on the heavy-vehicle industry.

This sale also highlights the commercial potential of Pure Hydrogen’s vehicle fleet.

The global hydrogen fuel cell market is projected to grow to US$80.5 billion by 2030.

Sale details

Delivery of the mini-buses was completed within the stated timeline and was valued at over $700,000 including charging infrastructure.

There was also full regulatory clearance following comprehensive Australian Design Rules (ADR).

EV70 electric mini-bus range

The zero-emissions mini-buses have a range of 300 kilometres powered by a 127-kilowatt hour Contemporary Amperex Technology Co., Limited (CATL) battery system and carry up to 18 passengers.

They feature a low floor design improving accessibility and efficiencies including reduced stop times during the pickup and drop off of customers requiring mobility access including wheelchairs up to 350 kilograms.

The company is building an integrated hydrogen business that manufactures and distributes hydrogen and fuel cell vehicles, vessels, and generators.

U.S. market

HDrive is entering the lucrative U.S. market and has secured a purchase order to supply a 6X4 50T Prime Move and a 54-seater coach.

There is also an order with California-based Nutcher Hydrogen, a specialist heavy vehicle dealership.

Vehicles will initially be used as demonstration vehicles for potentially much larger commercial orders.

Pipeline

The company’s product pipeline includes the Taurus truck, Australia’s first hydrogen-powered prime mover that is now in the final stages awaiting ADR approval.

Along with a specially designed waste removal truck that is being developed for leading Australian waste management business JJ’s Waste & Recycling.

PepsiCo has committed to running a trial program with Pure Hydrogen to build and deliver the first hydrogen-powered prime mover in Australia.

There is the potential for an initial order of 10 or more subject to a successful six-month trial.

Pure Hydrogen has exclusive rights to the truck design globally.

 

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