{"id":7474,"date":"2024-03-20T21:19:52","date_gmt":"2024-03-20T21:19:52","guid":{"rendered":"https:\/\/economicherald.net\/?p=7474"},"modified":"2024-03-20T21:19:52","modified_gmt":"2024-03-20T21:19:52","slug":"pure-hydrogen-heeds-the-call-for-south-american-hydrogen-under-mou-with-brazils-piaui-state","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7474","title":{"rendered":"Pure Hydrogen heeds the call for South American hydrogen under MoU with Brazil\u2019s Piau\u00ed state"},"content":{"rendered":"

Pure Hydrogen reaches its first ever South American agreement after executing MoU with Brazil\u2019s Piau\u00ed state
\nMoU sets framework for company to help establish Piau\u00ed as a green hydrogen hub
\nCompany will use expertise in manufacturing and designing HFCVs alongside appropriate hydrogen infrastructure<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em> Pure Hydrogen could soon be supplying hydrogen fuel cell vehicles (HFCV) to the state government of Piau\u00ed in Brazil under an agreement to foster development of its green hydrogen economy.<\/strong><\/p>\n

The company\u2019s 60%-owned subsidiary H-Drive International has developed a range of hydrogen fuel cell powered vehicles including a refuse truck, a heavy truck and a low floor city bus, as well as its battery electric commercial vehicles which have attracted considerable attention in the form of trials and initial orders.<\/p>\n

It also has the ability to assemble up to 200 vehicles a month.<\/p>\n

Pure Hydrogen (ASX:PH2)<\/strong><\/a> already has three six-month trial commitments, as well as eight firm vehicle orders for delivery this year including a US$1.22m purchase order<\/strong><\/a> for a 6X4 50t prime mover and 54-seater coach from California-based Nutcher Hydrogen.<\/p>\n

It also has a significant pipeline for further sales with >100 truck options subject to successful trials.<\/p>\n

\u00a0<\/p>\n\n

Managing Director of Pure Hydrogen and the Governor of Piaui, Brazil on signing a MOU. Image Supplied.<\/em><\/p>\n

\u00a0<\/p>\n

Brazilian expansion<\/strong><\/h2>\n

Pure Hydrogen has now entered into a memorandum of understanding with Brazil\u2019s Piau\u00ed state government \u2013 its first in South America \u2013 to assist in the development of hydrogen solutions as part of the state\u2019s clean energy transition.<\/p>\n

The MOU, which has an initial term of two years, sets out the framework for the company to leverage its expertise in the manufacturing and design of HFCV, alongside appropriate hydrogen infrastructure solutions, as part of the policymakers\u2019 stated strategy to establish Piau\u00ed as a green hydrogen hub in the Brazilian economy.<\/p>\n

It will also facilitate collaboration between the parties for the development and rollout of several HFCVs currently manufactured by Pure Hydrogen.<\/p>\n

Piau\u00ed state forms part of the highly populous northeast region and had posted the fastest rate of employment nationally in 2023, with strong digital infrastructure (+11,000km of optical fibre) that supports the highest internet speeds in Brazil.<\/p>\n

Its inherent advantages include abundant water, favourable wind conditions and the S\u00e3o Gon\u00e7alo Solar Park \u2013 one of the largest solar parks in South America with more than 2.2 million solar panels \u2013 and have led to the state being flagged as a strategic hub for green hydrogen.<\/p>\n

The state government has also committed to several initiatives to attract domestic and foreign investment, including the establishment of a free-trade zone and an operating hub for customs control activities.<\/p>\n

\u00a0<\/p>\n

MoU highlights expertise in hydrogen<\/strong>\u00a0<\/strong><\/h2>\n

\u201cWe are pleased to announcement this MOU with the State Government of Piau\u00ed, following an extensive period of negotiations and collaboration between the parties,\u201d Pure Hydrogen Managing Director Scott Brown said.<\/p>\n

\u201cIn setting out the framework for the manufacture and distribution of Pure Hydrogen\u2019s market-leading suite of hydrogen vehicles into the Brazilian market, this agreement highlights the growing interest and recognition of the company\u2019s technology across international markets.<\/p>\n

\u201cThe fact we have secured this MOU highlights the quality of our product range and expertise in hydrogen components and associated infrastructure.<\/p>\n

\u201cGiven the company\u2019s increasingly strong track record to-date, Pure Hydrogen is now well positioned with a first-mover advantage to capitalise as national, state and local governments globally increasingly look towards transitioning to hydrogen-powered solutions for their heavy vehicle industries.\u201d<\/p>\n

\u00a0<\/p>\n

State Governor of Piau\u00ed, Mr Rafael Polentes, commented:<\/strong><\/h2>\n

\u201cMy administration is focused on leveraging our state\u2019s unique advantages to place Piau\u00ed at the forefront of the shift towards green hydrogen solutions, as part of the global clean energy transition. This MOU with Pure Hydrogen will facilitate direct collaboration with one of the world\u2019s leading manufacturers of hydrogen vehicles, and we are pleased to be working Managing Director Scott Brown and the rest of the management teams to advance the growth of Piau\u00ed\u2019s hydrogen economy.\u00a0 I look forward to highlighting the technological and logistical advances that will develop as a result of this partnership, and we remain excited by the economic growth opportunities that are inherent in this fast-growing sector.\u201d<\/p>\n

\u00a0<\/p>\n

This article was developed in collaboration with Pure Hydrogen, a Stockhead advertiser at the time of publishing. <\/em>\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

\u00a0<\/p>\n

<\/span><\/p>\n

The post Pure Hydrogen heeds the call for South American hydrogen under MoU with Brazil\u2019s Piau\u00ed state<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Pure Hydrogen reaches its first ever South American agreement after executing MoU with Brazil\u2019s Piau\u00ed state MoU sets framework for company to help establish Piau\u00ed [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7475,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nPure Hydrogen heeds the call for South American hydrogen under MoU with Brazil\u2019s Piau\u00ed state - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7474\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pure Hydrogen heeds the call for South American hydrogen under MoU with Brazil\u2019s Piau\u00ed state - 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