Pure Hydrogen has made significant progress throughout 2022 in delivering on its mission to develop a hydrogen ecosystem in Australia which covers all sections of the market from production to end-use.

Following deals to develop hydrogen production hubs, bringing multiple products to market, securing sales agreements with major companies, and leading a successful IPO for one of its investees, Pure Hydrogen Corporation (ASX:PH2) is well-placed to deliver significant value in 2023.

Let’s break down Pure Hydrogen’s milestone year, which has provided them with a strong platform to generate revenue, begin commercial production of Emerald Hydrogen and deliver several ground breaking hydrogen products to customers.

In November 2022, Pure Hydrogen showcased one of the world’s first hydrogen-powered double-decker buses in Shellharbour, which is just one of many products it brought to market this year.

Securing Emerald Hydrogen Manufacturing facility in SE QLD

An artist’s impression of the indicative footprint of the Moreton Bay Hydrogen Hub.

Pure Hydrogen secured the option to acquire 21 hectares of land in Moreton Bay, in Southeast Queensland to establish Emerald Hydrogen manufacturing facilities with joint venture partner CAC-H2.

The first plant, planned for Q4 2023, will initially produce 500kg/day of hydrogen, rising to 2,500kg/day.

The site can handle additional plants as needed to supply the growing hydrogen market.

Turquoise Hydrogen production on track for 2024

Pure Hydrogen signed a binding term sheet with France-based tech company Plenesys to develop back-to-base and industrial Turquoise Hydrogen production modules using Plenesys AI-controlled AC plasma torch to decompose Methane in an oxygen-free reactor.

Pure Hydrogen expects to start the development of a Turquoise Hydrogen pilot plant in the second quarter of 2023, with a commercial plant planned for 2024.

Daily production is anticipated to be between 1,500kg to 5,000kg of hydrogen and 4,500kg to 15,000kg of carbon products. 

More emerald hydrogen plants to come

Design of an Emerald Hydrogen Plant.

Pure Hydrogen has two additional Emerald Hydrogen Plants planned in Caboolture in Southeast Queensland and the Central Coast of NSW using technology providers such as CAC-H2 and Omni.

Each plant will be capable of producing an initial 500kg of hydrogen per day before increasing to an estimated 2,500kg per day.

Other key initiatives include:

  • Renova AB awarded H2X Global, which PH2 owns a 24% stake in, a contract of up to 70 million SEK for the purchase of hydrogen fuel-powered commercial trucks for use in Gothenburg, Sweden
  • Pure Hydrogen showcased the world’s first hydrogen fuel cell double-decker city bus in Shellharbour NSW, which it has added to its distributorship
  • Entered an arrangement with PepsiCo Australia to trial a hydrogen-fuelled prime mover at one of PepsiCo’s manufacturing sites in the City of Brisbane
  • Will supply PepsiCo with a Hydrogen Fuel Cell 160kW 6×4 Prime Mover as well as additional hydrogen fuel as required, including refuelling along with arranging repair and maintenance services with a trial to commence in Q2 2023
  • Sold one of Australia’s first hydrogen fuel cell generators to the Plumbing Industry Climate Action Centre, which will be used at the Hydrogen Centre of Excellence in Queensland
  • Signed a joint venture agreement with Indian-based automotive components manufacturer ADVIK Hi-Tech, with plans to establish an operation in India to produce and supply hydrogen for the heavy vehicle market in India
  • Signed a binding term sheet, which will see the company become a supplier of JJ’s Waste & Recycling’s hydrogen fuel cell side-lift RCV truck
  • H2X Global and ADVIK Hi-Tech launched a joint venture to manufacture products and components for hydrogen-powered vehicles, including fuel cells, for India and the global market.
  • Signed a terms sheet with Aus Ships Group to deliver hydrogen fuel to the marine sector.
  • PH2 investee Botala Energy (ASX:BTE) successfully raised $5m in its initial public offering to fund a five-well program to test the Serowe CBM project’s ability to flow gas.

Looking forward to generating revenue in 2023

Indicative roadmap to cashflow

 

Pure Hydrogen said with a leading position in clean energy projects around the world and a strong cash position, following a $5.8 million R&D tax claim, it is confident it will generate revenue in 2023 via the production of hydrogen and sale of fuel cell products.

Pure Hydrogen believes its significant progress this year will play an integral role in establishing the next generation of infrastructure that will provide Australians with carbon-free power and transport for the next hundred years.

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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