{"id":8942,"date":"2024-04-30T04:36:37","date_gmt":"2024-04-30T04:36:37","guid":{"rendered":"https:\/\/economicherald.net\/?p=8942"},"modified":"2024-04-30T04:36:37","modified_gmt":"2024-04-30T04:36:37","slug":"march-2024-quarter-fuels-progress-on-pure-hydrogens-hfc-vehicle-and-micro-hub-strategies","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8942","title":{"rendered":"March 2024 quarter fuels progress on Pure Hydrogen\u2019s HFC vehicle and micro-hub strategies"},"content":{"rendered":"<p>Ongoing progression of the commercial sales pipeline for PH2\u2019s market-leading suite of hydrogen fuel cell (HFC) vehicles<br \/>\nOrder for HFC waste collection truck made post quarter-end<br \/>\nKey progress during the quarter on PH2\u2019s low-capex hydrogen micro-hub strategy<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> The March 2024 quarter has proven to be a fruitful one for Pure Hydrogen\u2019s goal of spearheading the growth of the Australian hydrogen market.<\/strong><\/p>\n<p>During the quarter, <a href=\"https:\/\/stockhead.com.au\/company\/pure-hydrogen-corporation-ph2\/\" target=\"_blank\" rel=\"noopener\"><strong>Pure Hydrogen (ASX:PH2)<\/strong><\/a> continued to expand the sales pipeline for its hydrogen fuel cell (HFC) vehicle offerings and progressed execution of its low capex hydrogen infrastructure strategy.<\/p>\n<p>It comes amid a positive macro picture. The Australian government is <a href=\"https:\/\/stockhead.com.au\/energy\/got-gas-hydrogen-just-had-a-big-week-is-it-enough-to-fuel-its-uptake\/\" target=\"_blank\" rel=\"noopener\"><strong>boosting research in renewable hydrogen<\/strong><\/a> with Australian Renewable Energy Agency awarding $34.2m worth of funding to 13 hydrogen projects studying production of the gas as well as its storage and transportation.<\/p>\n<p>Meanwhile, Fortescue has officially opened its major electrolyser manufacturing facility in Gladstone,\u00a0while construction has started on a 480-megawatt solar plant that will power Stanwell\u2019s export oriented Central Queensland hydrogen project.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Hydrogen vehicle pipeline expands<\/strong><\/h2>\n<p>PH2 hosted investors at its Drive Day on 19 March 2024, which showcased its HFC Taurus prime mover and EV70 minibus.<\/p>\n<p>The Company also signed a Memorandum of Understanding with the state government of Piau\u00ed 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\u2019s expertise in manufacturing and design of HFC vehicles alongside hydrogen infrastructure solutions.<\/p>\n<p>Post quarter-end, the company <a href=\"https:\/\/stockhead.com.au\/energy\/pure-hydrogen-marks-entry-into-south-australia-with-sales-contract-for-hydrogen-waste-collection-vehicle\/\" target=\"_blank\" rel=\"noopener\"><strong>executed an additional sales agreement<\/strong><\/a> with Australian waste management company Solo Resource Recovery for a rear-loading HFC waste collection truck that will be deployed in Adelaide.<\/p>\n<p>This vehicle is expected to be deployed in the second half of this calendar year and will be one of three demonstration waste collection trucks.<\/p>\n<p>Solo is also taking delivery of two garbage trucks with one \u2013 a side loader \u2013 to be deployed in northern NSW while the other will be deployed by the City of West Torrens council in Adelaide.<\/p>\n<p>PH2 has also received significant interest across Australia and international markets from established waste management and transport industries for its HFC vehicles.<\/p>\n<p>Meanwhile, the HFC waste removal truck for JJ\u2019s Waste and Recycling has passed all tests with final approval pending from the federal government before it goes into service.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>First micro-hub selected <\/strong><\/h2>\n<p>Alongside its hydrogen vehicle suite, PH2 is also progressing its strategy of developing low capex green hubs situated close to potential customers that will produce green hydrogen using on-site solar and green electricity to power module-built electrolysers.<\/p>\n<p>Following the end of the quarter, the company <a href=\"https:\/\/stockhead.com.au\/energy\/pure-hydrogens-green-hydrogen-micro-hub-strategy-is-taking-off\/\" target=\"_blank\" rel=\"noopener\"><strong>signed a lease<\/strong><\/a> on a 4000m2 commercial site at Archerfield airport in Brisbane that will house its first hydrogen micro-hub.<\/p>\n<p>It has already ordered the electrolyser, expected to cost ~$880,000, which will crack water molecules into hydrogen and oxygen atoms.<\/p>\n<p>Supply of 420kg per day of green hydrogen will begin Q4 2024 under the first stage of the Archerfield development, which will serve as the template for future micro-hubs.<\/p>\n<p>Stage 1 will take up 1000m2 of the 4000m2 site, leaving room for potential scale-up when demand increases.<\/p>\n<p>All equipment \u2013 including the electrolyser \u2013 will be housed in shipping containers that will be installed on any hard stand site.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Construction starts on turquoise hydrogen demonstration plant<\/strong><\/h2>\n<p>During the quarter, the company also noted that its 40%-owned investee company Turquoise Group has started construction of the commercial prototype demonstration plant<\/p>\n<p>The plant will use methane plasma pyrolysis to convert methane into hydrogen and carbon without carbon dioxide emissions.<\/p>\n<p>The prototype is expected to be operational in the June quarter and its ouput tested with results announced in the next few months.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Other activity<\/strong><\/h2>\n<p>While hydrogen was the main focus for the company during the March 2024 quarter, PH2 also executed the strategic sale of its 30% interest in the Serowe project to operator Botala Energy (ASX:BTE) post quarter-end.<\/p>\n<p>The sale was structured to provide PH2 with continued exposure to any project upside through the 14.5 million BTE shares it received as consideration for the sale along with a milestone payment of $750,000 that is contingent on reserve certifications.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Pure Hydrogen, a Stockhead advertiser at the time of publishing. <\/em><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/energy\/march-2024-quarter-fuels-progress-on-pure-hydrogens-hfc-vehicle-and-micro-hub-strategies\/\">March 2024 quarter fuels progress on Pure Hydrogen\u2019s HFC vehicle and micro-hub strategies<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Ongoing progression of the commercial sales pipeline for PH2\u2019s market-leading suite of hydrogen fuel cell (HFC) vehicles Order for HFC waste collection truck made post <a href=\"https:\/\/economicherald.net\/?p=8942\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8943,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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