Pure Hydrogen trucks deeper into US EV heartland

Pure Hydrogen has reached terms to negotiate EV supply into US markets
The MoU lays expectations for CY2025 supply
Third US agreement validates market-building strategy

Special Report: Pure Hydrogen has reached terms with ETHERO Truck + Energy to negotiate the distribution and supply of its vehicles into US markets.

The memorandum of understanding with the Mechanicsville, Virginia-based multi-brand commercial electric truck dealer offers another strategic stateside entry point for Pure Hydrogen (ASX:PH2) to sell Hydrogen Fuel Cell Electric and Battery Electric vehicles.

The MoU provides the framework and, pending due diligence, lays out an expectation that Pure Hydrogen will begin supplying its fleet of vehicles through ETHERO in the next calendar year.

It comes after a series of recent deals which have entrenched Pure’s presence into Australian, American, Middle Eastern, and Asian markets, including big Californian compacts with Nutcher and Riverview and a successful registration as Australia’s first hydrogen fuel cell prime mover.

Pure Hydrogen’s Managing Director, Scott Brown, said the company was pleased to enter a collaboration with a leading distributor of zero-emission vehicles committed to building new business opportunities in decarbonisation.

“This is our third agreement in the US, highlighting the quality of our product range and associated infrastructure, and we feel privileged to be working with highly knowledgeable experts in ETHERO,” Brown said.

“Pure Hydrogen has continued to demonstrate a strong track record of successfully executing its hydrogen vehicle strategy and we look forward to providing further updates on this partnership.”

ETHERO Director, Dave Rogers, added his company was firmly committed to the transition to a zero-tailpipe emissions fleet, believing PH2’s offerings have strong alignment with the American market to be a successful supplement to its product lines.

“We are delighted to be working together, combining our expertise in commercial truck sales, distributed power solutions, and charging station infrastructures with Pure’s holistic hydrogen solutions,” Rogers said.

PH2 Deal — Pure Hydrogen National Sales Manager, Clint Butler (L) with David Baiocchi, General Manager ETHERO California. Pic: PH2

Heating hydrogen

While the Fortescue (ASX:FMG) decision to scale back its hydrogen plans was a central talking point for investors earlier this year, it has paved the way for smaller players like PH2 to build demand by starting small.

Alongside domestic hydrogen vehicle sales, the Sydney-based company has been eyeing off the opportunity to expand into international markets.

As part of its global rollout strategy, Pure Hydrogen has a particular focus on the US market where the federal policy framework sets out clear support for hydrogen solutions.

The partnership with ETHERO marks further validation of PH2’s strategy to build potential market share for its hydrogen fleet in the world’s largest economy, with shares in the company trading +20% higher during Thursday trade.

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.