Fuel cell company Pure Hydrogen has struck an equity deal with aspiring hydrogen ute maker H2H Global that will see the two Australian companies roll out a series of hydrogen utes, trucks and buses.
Pure Hydrogen is to acquire an initial 24 per cent stake in H2X Global, with an option to increase its stake to 48%, and in the process will secure the hydrogen refuelling requirements for the upcoming H2X Warrego ute.
In turn, Pure Hydrogen will also establish a new company named Pure X Mobility, which will develop and deploy hydrogen fuel cell electric vehicles (HCEV) including buses and trucks such as waste disposal and concrete agitator trucks.
There are big questions over the ability of hydrogen fuel cell vehicles to be able to compete with battery electric vehicles, but if they are to compete it is likely to be at the heavier end of the vehicle range.
“The efficiency provided by hydrogen in new automotive technology is a game-changer for the industry and H2X is at the forefront of this ground-breaking innovation,” said Scott Brown, the head of Pure Hydrogen.
“Hydrogen has the potential to cut fuel costs by up to 30% when compared with traditional diesel. Partnering with H2X not only makes good commercial sense but it also puts Pure Hydrogen in the driver’s seat to capitalise on new and evolving hydrogen technology.
Heavy vehicles such as waste trucks are logical ‘starters’ for Pure X Mobility as they are short run operators where refueling can be managed at back-to-base locations.
H2X Global is set to launch its high-priced Warrego ute next month, ahead of first deliveries which are slated for April, 2022.
Featuring a 200kW motor and a 66KW and optional 90KW fuel cell system delivering between 60KW and 100KW of output from its energy storage systems between the battery and supercapacitor units, the Warrego ute will be available in three models with a starting price of $189,000, for the Warrego 66, the only model with either 2WD or AWD.
“As technology leaders and innovators with a track record of bringing hydrogen powered vehicles to market in what is a new and emerging global industry aligns well with Pure Hydrogen’s growth strategy,” said Brendan Norman, H2X CEO. “We have an excellent platform in place to bring a range of heavy vehicles to market relatively quickly.”