Pure Hydrogen Accelerates Zero-Emission Fleet Growth with Major Contracts and Positive Cash Flow
Pure Hydrogen Corporation has marked significant progress in its clean energy transition, delivering Australia's first hydrogen fuel cell garbage truck and securing multi-million dollar contracts with industry leaders TOLL Transport and Heidelberg Materials.
- Delivered Australia's first hydrogen fuel cell rear loader garbage truck
- Secured purchase orders from TOLL Transport and Heidelberg Materials for hydrogen fuel cell trucks
- Entered a US$28 million supply agreement with GreenH2 LATAM for Mexican hydrogen projects
- Reported positive operating cash flow of approximately $398,000 for the quarter
- Ongoing development of natural gas projects and strategic investments in clean energy technologies
Strategic Milestones in Hydrogen Vehicle Deployment
Pure Hydrogen Corporation Limited (ASX: PH2) has delivered a series of landmark achievements in the March 2025 quarter, underscoring its ambition to lead Australia's zero-emission (ZE) vehicle and energy project market. The company successfully handed over Australia's first hydrogen fuel cell (HFC) rear loader garbage truck to Solo Resource Recovery, marking a pivotal step in decarbonising municipal waste fleets. This vehicle is set to operate initially with the City of West Torrens Council in Adelaide, South Australia, demonstrating real-world application of hydrogen technology in essential services.
Further cementing its commercial traction, Pure Hydrogen secured significant purchase orders from two major clients. Global logistics giant TOLL Transport placed an order for two Taurus 70-tonne HFC prime movers, the largest hydrogen-powered trucks approved for Australian roads, valued as part of a broader AUD$2 million package. Meanwhile, Heidelberg Materials Australia ordered a hydrogen fuel cell concrete agitator truck, a first in Australia and among the first globally, signaling growing adoption of hydrogen solutions in heavy industrial sectors.
Expanding International Footprint and Technology Commercialisation
Post quarter-end, Pure Hydrogen advanced its international expansion by executing a Master Supply and Distributor Agreement with GreenH2 LATAM, a leading clean energy company in Mexico City. This agreement positions Pure Hydrogen as the preferred supplier for two major hydrogen infrastructure projects in Mexico, valued at approximately US$28 million. The deal includes the supply of electrolysers, hydrogen compression, refuelling, and storage equipment, with deliveries scheduled for FY2026. This strategic partnership aligns with Mexico's renewable energy targets and underscores Pure Hydrogen's growing influence in the Asia-Pacific and Latin American clean energy markets.
In parallel, the company’s strategic 40% stake in Turquoise Group bore fruit with the commencement of commercial sales of high-quality graphene powder produced via methane pyrolysis technology. This development not only diversifies Pure Hydrogen’s clean energy portfolio but also taps into the burgeoning global demand for advanced materials critical to energy storage and electronics.
Financial Health and Growth Pipeline
Financially, Pure Hydrogen reported positive cash flow from operations of approximately $398,000 for the quarter, supported by cash receipts exceeding $2.16 million, a 268% increase from the previous quarter. The company ended March 2025 with $3 million in cash and undrawn credit facilities of around $8 million, positioning it well to fund its expanding sales pipeline and ongoing project developments.
The sales pipeline is robust, with multiple vehicle orders in various stages of build and delivery, including hydrogen-powered buses, refuse trucks, and prime movers across Australia, the US, and Asia-Pacific markets. The transition from research and development to commercial sales is evident, with several vehicles already delivered and others scheduled for imminent delivery.
Natural Gas Projects and Corporate Strategy
Alongside its hydrogen initiatives, Pure Hydrogen continues to develop natural gas projects in Australia and Botswana. The company is progressing plans to demerge its Australian natural gas assets into a separate listed entity, Eastern Gas Limited, via an IPO, aiming to capitalise on energy security demands amid the clean energy transition. Its strategic investment in Botswana-focused Botala Energy provides exposure to coal bed methane projects with promising exploration results and commercialisation pathways.
Overall, Pure Hydrogen’s March quarter report reflects a company advancing steadily on multiple fronts, commercial vehicle deployment, international partnerships, technology commercialisation, and asset development, while maintaining financial discipline and strategic clarity.
Bottom Line?
Pure Hydrogen’s momentum in hydrogen vehicle sales and international expansion sets the stage for accelerated growth and market leadership in zero-emission transport.
Questions in the middle?
- How will the timing and scale of vehicle deliveries impact Pure Hydrogen’s revenue recognition in FY2025 and beyond?
- What regulatory or certification hurdles remain for Pure Hydrogen’s hydrogen vehicles in international markets like the US and Mexico?
- How might the planned IPO of Eastern Gas Limited influence Pure Hydrogen’s capital allocation and shareholder value?
