Australia’s hydrogen truck maker H2X secures $33.6m order from Sweden

Australian-based hydrogen-powered vehicle manufacturer H2X Global says it has secured a $33.6 million order for its Paroo-class hydrogen FCEV trucks in Sweden.

H2X Global, based in Sale, Victoria, announced that it had been chosen as the supplier of fuel cell electric vehicle (FCEV) trucks by Swedish waste management company Renova. It will cover both 18- and 26-tonne vehicle classes.

Importantly for H2X, this latest tender award ensures the company can now begin commercial production of its Paroo hydrogen trucks.

“It puts us into the commercialisation phase,” said Michelle Reynolds, H2X Global chief financial officer.

“We are going into a revenue producing phase rather than just Research and Development.’’

A range of H2X Global’s hydrogen fuel cell-powered trucks will serve different configurations for Renova, including tail lift dumpers, garbage compactors, hook lifts, and crane loaders.

“These commitments form a vital part of H2X Global’s local development strategy and its goal of making hydrogen a cost-competitive solution for the decarbonisation of back-to-base fleet operations,’’ said Bill Moss, H2Xs head of sales and marketing.

The Gothenburg-based fleet of hydrogen vehicles is also expected to drive demand for a hydrogen refuelling station which is set to open near Renova in the first quarter of 2024.

The supply of these vehicles will also include assembly locally in Sweden.

The deal comes as H2X Global is seeking to raise $10 million in a new funding round targeting investors in Australia, Europe, and the UK. A successful completion of the funding round will help H2X Global fulfil existing orders as well as carry out further research and development.