Pure Hydrogen signs MoU with Riverview International Trucks for the potential distribution and supply of its HDrive series of zero emissions trucks in California
Entire range of hydrogen fuel cell trucks including the Taurus prime mover and garbage trucks as well as battery electric trucks included
First trucks could be supplied to Riverview in 2025
Special Report: Pure Hydrogen could secure a new point of sales for its hydrogen fuel cell and battery electric trucks in California after signing a Memorandum of Understanding with commercial vehicles supplier Riverview International Trucks.
The company has been steadily expanding the sales pipeline for its HFC Taurus prime mover, garbage trucks and box trucks, which have the benefit of zero CO2 emissions and the ability to refuel quickly.
Highlight this progress, Pure Hydrogen (ASX:PH2) recently executed a term sheet to supply a rear-loading waste collection vehicle to the City of Newcastle, NSW.
This adds to the execution of a sales agreement with Solo Resource Recovery in April for a similar vehicle that will be deployed in Adelaide in the second half of this year, adding to the two garbage trucks that Solo is taking delivery of soon.
Potential sales could also come from JJ’s Waste and Recycling where the HFC waste removal truck it was trialling passed all tests, with final approval pending from the Federal Government before it goes into service.
PH2 also delivered two electric mini-buses to Sapphire Coast Buslines in NSW in April.
Separately, the company signed a Memorandum of Understanding with the state government of Piauí in Brazil to assist in the development of hydrogen solutions as part of its clean energy transition.
The MOU sets out a framework to leverage PH2’s expertise in manufacturing and design of HFC vehicles alongside hydrogen infrastructure solutions.
California calling
PH2 has now signed an MoU with family-owned Riverview, which is a large and well-established full-service, heavy-duty truck dealership that is also an active supplier of zero emissions vehicles to the US market with sites in Redding and West Sacramento, California.
This gives them a keen understanding of the zero emissions heavy duty truck business in the state, where one in four new cars sold are zero emissions – battery electric, plug-in hybrid or HFC.
Under the MoU, the two companies will negotiate the distribution and supply of PH2’s H Drive series of trucks into California.
This will provide PH2 with a second channel to expand sales and distribution in the US following its sales agreement with California-based Nutcher in November 2023.
The company expects to start supplying trucks in 2025, subject to Riverview being satisfied with its due diligence on the vehicles, the equipment being compliant for operation in America, and definitive agreements reached by both parties.
PH2 added that it expects its H Drive trucks to assist Riverview in the competitive zero emissions market in the state.
“This MOU with Riverview presents us with another great entry point into the US ZE commercial vehicle market and it is another strong endorsement of the quality and range of our hydrogen powered vehicles,” PH2 managing director Scott Brown said.
“Our objective is to move this from an MOU to a definitive supply agreement in the coming months and capitalise on the unique and large opportunity that the US market presents.
“We continue to receive strong interest there and we expect to secure similar agreements across this market. We are actively exploring SKD assembly and will advise the market in the coming months.”
Riverview chief executive officer Eric Bassett said that the company saw the need to expand into the zero emissions truck market and the MoU with PH2 was a great opportunity to do so given the range of vehicles.
They include a class 8 heavy, 6×4 rigids for waste collection, 8×4 rigids for concrete agitators, 15t box trucks as well as ze buses.
“Pure Hydrogen’s HDrive product range is a great fit for our business and gives Riverview a leading edge in this very soon to be competitive market,” he added.
“Some governments have already introduced major incentives and guidelines to promote ZE vehicles, such as national programs that include subsidies or tax breaks for ZE trucks; discounts on road tolls; tightened fleet emission standards; and sales bans on internal-combustion-engine (ICE) vehicles.
“Working with HDrive International can help our business and our valued customers in achieving this.”
This article was developed in collaboration with Pure Hydrogen, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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