Pure Hydrogen teams with Utility Global to grow US hydrogen fuel cell market

• Joint market development agreement signed with leading clean hydrogen producer, Utility Global Inc
• Agreement covers collaboration on deploying hydrogen fuel cell vehicles in the US
• Parties will jointly execute on pilot projects, vehicle demonstrations and knowledge sharing

Special Report: With some analysts predicting the hydrogen fuel cell market will grow at a compounding annual growth rate of 24.5% over the next 10 years, Pure Hydrogen is moving swiftly to grow its presence in the US.

The company has teamed with Houston-based Utility Global, inking a joint market development agreement that provides a framework to advance the deployment of hydrogen fuel cell vehicles in the US.

Pure Hydrogen (ASX:PH2) managing director Scott Brown said the agreement provided a clear pathway for growth in the US market, capitalising on PH2’s domestic manufacturing expansion plans as the company worked to meet Australian and international demand.

“The collaboration leverages our expertise in vehicle development alongside Utility’s leading capabilities in clean and economic hydrogen production,” he said.

“By aligning vehicle rollouts with strategically located hydrogen supply, we aim to accelerate the adoption of hydrogen mobility solutions, reduce operational risks, and support the build-out of a comprehensive US hydrogen ecosystem.”

Pure Hydrogen will work with Utility to identify key deployment regions, initiate pilot projects and expand vehicle demonstrations and hydrogen supply solutions over the coming months.

“These initiatives will lay the foundation for a scalable US hydrogen mobility network in 2026 and beyond,” Brown said.

Hydrogen fuel cell market

According to a report by Research and Markets, the hydrogen fuel cell market is entering a stage of potentially transformative growth.

Between 2025 and 2033, analysts predict the market will grow from US$10.2 billion to US$59bn, expanding at a compounding annual growth rate of 24.5%.

Advancements in fuel efficiency, cost-effectiveness and durability of fuel cell technologies have positioned it as a viable alternative to internal combustion engine vehicles.

Several countries – Japan, South Korea and a number of EU nations – are also building hydrogen infrastructure and investing directly in hydrogen automotive commercialisation through major manufacturers like Toyota, Hyundai and Honda.

Under the joint market development agreement, PH2 and Utility Global will work together to identify opportunities to expand the US-based hydrogen mobility network.

The two companies intend to target their roll out initiatives in areas with strategically located hydrogen supply, supporting the build out of a comprehensive supply chain that serves commercial customers and the wider energy transition.

The agreement covers an initial three-year term, and follows PH2’s recent manufacturing partnership agreement with Australian company AMQ.

The AMQ agreement provides PH2 with a strategic pathway to scale its manufacturing capacity to meet future demand, leaving it well positioned to pursue distribution opportunities with international partners such as Utility and capitalise on its first-mover advantage in the global hydrogen economy.

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.