Pure Hydrogen has reached an agreement with CAC-H2 to build three waste to hydrogen plants on the east coast of Australia.

The plants will use timber waste that would otherwise be consigned to landfills for conversion into renewable hydrogen.

This comes amidst a strong push towards building the hydrogen economy as Australia pushes ahead with its goal of achieving net zero emissions by 2050.

Pure Hydrogen (ASX:PH2) aims to build the first plant north of Brisbane with operations expected to start in late 2022.

Under the partnership, the company will fund storage and load-out while CAC-H2 will fund, build, and operate the plant.

Other plants will be built in Sydney and Melbourne, bringing new jobs and opportunities to the rapidly growing clean energy and renewables sector, whilst supporting Australia’s critical path to decarbonisation and achieving its climate goals.

“We are very excited to be partnering with CAC-H2 and establishing facilities to service the east coast of Australia supplying hydrogen fuel,” managing director Scott Brown said.

“We are pulling all facets of the supply chain together to deliver a complete solution for commercial and industrial users.

“We will continue to develop our existing projects and the partnership with CAC-H2, which will allow us to bring forward hydrogen supply coverage to the east coast more rapidly.”

CAC-H2 director Arman Massoumi added that the project will reduce the amount of carbon put out by the mobility sector.

 

Other agreements

Pure Hydrogen is currently working with H2X Global to supply hydrogen fuel cell electric vehicles to commercial customers from the middle of 2022.

It is also working with commercial users to supply back-to-base hydrogen fuelling with offtake agreements and vehicle supply contracts pending.

Additionally, the company is pursuing other channels to build out a multi-faceted hydrogen fuel supply chain.

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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