Pure Hydrogen closer to ‘one-stop shop’ after locking in transport deal
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Today’s deal with Pure Haul takes Pure Hydrogen a step further towards becoming a one-stop shop hydrogen supplier.
Clean energy company Pure Hydrogen (ASX:PH2) has just taken another step towards becoming a fully-fledged hydrogen provider, after signing a term sheet with Pure Haul to provide transportation services.
The deal will see Pure Haul transport hydrogen from its hydrogen hubs to customer sites, and is set to turn Pure Hydrogen into a one-stop-shop supplier within the hydrogen economy.
The company’s total supply chain offering will now include hydrogen supply, a refuelling network underpinned by established technology, and after today, a transport and logistics offering to potential commercial customers.
“Pure Haul has recognised the obvious benefits of forming a dedicated hydrogen transport and logistics business. This is another piece of the infrastructure necessary to provide a
hydrogen economy,” commented Pure Hydrogen’s managing director, Scott Brown.
In terms of the logistics involved, Pure Haul will take compressed hydrogen from Pure Hydrogen’s various production points at pressures of 250 bar or higher.
The hydrogen is compressed into long cylinders, which are then stacked in the trucks’s modified trailers, and hauled by Pure Haul to customer sites and refuelling points.
The in-house maintenance programs at Pure Haul have been backed and certified by a Maintenance Management Accreditation, which is issued by the National Heavy Vehicle Regulator (NHVR).
This accreditation is predicted to result not only in reduced down time and servicing costs for the customers, but also allows greater returns through reduced rates.
“We are partnering with an experienced and accredited transport and logistics operator that has an established network and fleet in place,” Brown said.
Just last week, Pure Hydrogen signed an MoU agreement with H2H Energy to provide supply and maintenance services at its refuelling outlets.
H2H has a headstart on the supply side of the equation, having built a low cost, mobile hydrogen refueler.
This includes a 350 and 700 bar refuelling capability, which currently serves major clients like Toyota and Hyundai.
The deal was part of Pure Hydrogen’s ambition to develop a network of hydrogen refuelling hubs on the east coast of Australia.
The ambitious plan also includes building large scale hydrogen plants on the east coast of Australia.
The company recently tapped institutional investors for $9.4 million, and is well funded with $11.25 million in cash as at the end of March.
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.