Australia Hydrogen Investment Opportunities in Renewable Clean Energy + Pure Hydrogen signs Vietnam Hydrogen AU$10 mil Bus deal.

This week the Australia Government announced an additional AU$2 bil new investment in Clean Energy Finance Corporation (CEFC).

This week Australia’s Labour Government announced an additional AU$2 bil new investment in Clean Energy Finance Corporation (CEFC) to capitalize on our natural resources and make the shift to cheaper, clean, reliable, renewable energy; with expectations of incentivising AU$6 bil of private investment from global and local organisations keen to capitalise on Australia’s future energy ambitions.

This is on the back of AU$4.057 bil in government grants for Hydrogen developments in Australia to become the leading Hydrogen Hub in Asia Pacific region. Increasingly at a faster pace due to USA President Trump’s back peddle of dismantling former-president Biden’s US$527 bil Inflation Reduction Act (IRA) – whereby in the first year over US$110 billion in clean energy projects were announced with more than 60% of these investments coming from foreign businesses,

Australia offers several government grants to support hydrogen development through initiatives such as the Hydrogen Headstart program and the Renewable Hydrogen Deployment Funding Round:

  1. Hydrogen Headstart Program: With an announced investment of $4 billion, this program supports large-scale renewable hydrogen projects by providing revenue support through competitive production contracts. It aims to bridge the commercial gap between the cost of producing renewable hydrogen and its market price.
  2. Renewable Hydrogen Deployment Funding Round: Managed by the Australian Renewable Energy Agency (ARENA), this program provides up to $70 million to fast-track renewable hydrogen projects. It’s part of the National Hydrogen Strategy and focuses on growing an innovative and competitive hydrogen industry in Australia.
  3. Hydrogen Hubs Development and Design Grants: These grants offer matched funding from $500,000 to $3 million for the initial development, feasibility, and design of hydrogen hub proposals. This initiative is part of the Activating a Regional Hydrogen Industry program, which aims to create domestic clean hydrogen supply chains and export pathways

More details: www.dcceew.gov.au    www.arena.gov.au     www.business.gov.au

PURE HYDROGEN: PH2

Australian owned ASX PH2 hydrogen-powered buses, waste collection trucks, prime movers, and refuelling solutions.

Pure Hydrogen designs and assembles a functional zero emission product, plus hydrogen storage and delivery systems along with charging infrastructure, spare parts and ongoing maintenance service. The package satisfies both zero emissions as well as local content requirements for customers in Australia.  Pure Hydrogen builds vehicles ideally suited to running from a depot, such as buses or garbage trucks.

While hydrogen fuel cell vehicles are still currently more expensive than their battery electric counterparts, they offer more power for applications like multi-stopping garbage and high energy concrete mixer trucks, and buses which can travel up to 500 kilometres on a fill of hydrogen gas.

PH2 also signed three supply agreements with Vietnam ASEAN Hydrogen Club and another party for the supply of vehicles and hydrogen equipment worth ~$10m

Due for delivery within FY2025,Under the agreements, PH2 will supply VAHC with three FC70 hydrogen fuel cell (HFC) minibuses and two HFC120C coaches along with associated hydrogen infrastructure. It will supply the other domestic party with two HDrive EV80 electric buses and two single-vehicle chargers as well as the option to acquire a further two vehicles and a dual-vehicle charger.

Example of the EV80 electric bus to be supplied. Pic: Pure Hydrogen

“The deal with the Vietnam ASEAN Hydrogen Club, which incorporates hydrogen vehicles and hydrogen infrastructure, is showcasing the story that Pure Hydrogen has been telling about using our Micro Hub strategy to build the Hydrogen Highway and showing other countries how to use our model to reduce emissions in the heavy vehicles industry,” managing director Scott Brown said.

“We commend them for their commitment to spearheading clean energy solutions. We look forward to working with our partners on vehicle deployment as well as expanding the rollout of our vehicle fleet.”

VAHC executive chairman Le Ngoc Anh Minh said VAHC is committed to establishing one of the first hydrogen mobility demonstration projects in Vietnam, adding that it provides investors, industrial partners, researchers and policy makers with a showcase on how hydrogen can provide a zero-emissions solution for transport in major cities.

Recently, the Government of Vietnam unveiled a multi-faceted strategy to develop its hydrogen industry throughout 2030-2050 – meaning PH2’s latest deal is one component of a bigger push to go green.   Longer-term, Vietnam aims to produce up to 500,000t of hydrogen per year by 2030 and 10-20Mt annually by 2050 – the latter accomplishment would equal the United Kingdom’s annual electricity consumption.

Image Source: Prue Hydrogen

The company has executed agreements to expand its distribution network with GreenH2 LATAM in November, ETHERO Truck + Energy in October and Riverview International Trucks.

Separately, the company is well advanced with plans to build a hydrogen electrolysis manufacturing facility in Queensland from which to supply clients with the product they need. It also has a stake in Turquoise Group that seeks to produce hydrogen as a by-product of graphene manufacturing from methane.

PH2’s Taurus prime mover truck is on trial with PepsiCo and Barwon Water while multiple sales of waste disposal vehicles have been made to major waste recovery companies including JJ Richards and Solo, as well as prominent local governments such as the City of Newcastle.

Development is underway on Stage 1 of its initial hydrogen micro-hub at Archerfield Airport in Queensland as a demonstration plant that will supply nearby commercial customers – including JJ Richards – as well as aviation industry demand.

PURE HYDROGEN 

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