Pure Hydrogen expecting $1.1m R&D refund

• PH2 eyes $1.1m tax refund for the 2024-2025 financial year
• Follows refunds of $1.1m and $760k in recent years
• Company says funds are important to drive hydrogen innovation

Special Report: Pure Hydrogen expects a tidy $1.1m FY25 R&D tax refund after driving development of its strategy encompassing zero-emission vehicles and hydrogen equipment.

Pure Hydrogen is actively expanding its portfolio to include a broader range of hydrogen fuel cell and electric commercial vehicles, alongside the supply of associated hydrogen equipment and infrastructure.

Already, the company has secured distribution deals in Mexico and Argentina for the hydrogen vehicles as it looks to grow its global footprint.

Pure Hydrogen (ASX:PH2) said the Australian Government’s R&D Tax Incentive, which supported up to 43.5% of qualifying expenditure and provided significant cash refunds to fund innovation, was an important contributor to its ongoing investment in the development of commercial vehicles and hydrogen equipment.

The company believes the estimated refundable offset for FY25 is approximately $1.1 million and expects to receive it in the first half of FY26.

More from Pure Hydrogen: Accelerating the global clean transport drive

Funding innovation

In recent years, PH2 has consistently benefited from the program as it advances its commercial zero-emission vehicles and hydrogen equipment.

The company received an R&D refund of approximately $760k for FY23 and around $1.1 million for FY24.

“Innovation is at the core of our business as we develop our commercial transport solutions, including hydrogen fuel cell and battery electric vehicles, as well as hydrogen equipment,” PH2 MD Scott Brown said.

“The R&D Tax Incentive is a valuable program that recognises the importance of investing in new technologies and supports our efforts to bring these products to market faster.

“We look forward to finalising this year’s claim and continuing to deliver sustainable transport options for our customers while increasing value for our shareholders.”

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.