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    Pure Hydrogen invests in fuel cell vehicle company

Summary

Australia-based H2X has a range of hydrogen vehicles and power generating units.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Asia/Oceania, Energy Transition, Hydrogen, Corporate, Investments, News By Country, Australia

Pure Hydrogen invests in fuel cell vehicle company

Sydney-listed gas producer Pure Hydrogen Corp has completed the purchase of a 24% interest in fellow Australian hydrogen fuel cell vehicle company H2X Global, it said on November 5. Pure Hydrogen has an option to expand the share to 48% in the future.

H2X has a range of hydrogen vehicles and power generating units. It focuses on fuel cell technology and hydrogen powertrains for commercial transport operations such as utilities buses, vans, trucks and prime movers. The deal was announced late last month.

Separately, H2X has signed a memorandum of understanding with the Economic Development Corporation (SEDC), an arm of the government of the Malaysian state of Sarawak, for the manufacturing, assembly and development of a range of transport projects.

According to the MoU, H2X will establish a joint venture with SEDC Energy, a unit of SEDC, to produce long haul vehicles, and in the immediate term, begin with the assembly of vehicles and powered generators.

The Sarawak government first introduced hydrogen-powered vehicles into the state in 2019 and the new agreement will see H2X supply and assemble further vehicles including buses to meet the growing demand, Pure Hydrogen said.