Pure Hydrogen Posts $409K Positive Cash Flow, Secures $44M Mexico Deal

Positive Cash Flow and Strategic Growth

Pure Hydrogen Corporation Limited (ASX – PH2), soon to be renamed Pure One Corporation Limited, has reported a second consecutive quarter of positive cash flow from operations, generating $409,000 in net inflows for the June 2025 quarter. With $2.7 million in cash on hand and undrawn credit facilities totaling approximately $8.4 million, the company is well capitalised to support its expanding sales pipeline and ongoing development of zero-emission vehicle and hydrogen infrastructure technologies.

The company’s financial health is underscored by a 29% increase in cash receipts compared to the previous quarter, alongside a strategic repayment of $462,000 in debt, leaving Pure Hydrogen debt-free as of 30 June 2025.

Commercial Milestones in Zero-Emission Vehicles

Pure Hydrogen achieved a significant milestone with the delivery of Australia’s first fully registered hydrogen fuel cell prime mover to Barwon Water, Victoria’s largest regional urban water corporation. This custom-built hydrogen-powered waste collection truck will be deployed in Geelong and surrounding areas, supporting Barwon Water’s net zero emissions target by 2030 and showcasing Pure Hydrogen’s leadership in zero-emission transport solutions for government and utility sectors.

Internationally, the company expanded its global footprint through Master Supply and Distributor Agreements with GreenH2 LATAM in Mexico and FRN Enterprise SAS in Argentina. These agreements position Pure Hydrogen as the preferred supplier of hydrogen equipment for major clean energy projects valued at approximately US$44 million in Mexico and establish exclusive distribution rights across Mexico, Colombia, and South America. Deliveries of hydrogen infrastructure, including electrolysers and refuelling systems, are planned for FY2026.

Post quarter-end, Pure Hydrogen secured its first sale of an Australian-assembled hydrogen fuel cell garbage truck to Riverview International Trucks in California, marking a critical entry into the US market. This vehicle will serve as a demonstration unit to support future orders amid a market reshaped by the exit of major competitors.

Advancing Gas Projects and Regulatory Approvals

On the energy project front, Pure Hydrogen received a 15-year Potential Commercial Area (PCA) grant from the Queensland government for its Windorah Gas Project in the Cooper Basin, extending tenure until June 2040. This approval follows a lengthy regulatory process and validates the project’s commercial potential with independently certified contingent gas resources.

The company is progressing plans to spin out its Australian natural gas assets into a separate listed entity, Eastern Gas Limited, via an initial public offering. This strategic move aims to unlock value and focus on energy security and the clean energy transition within Australia.

Additionally, Pure Hydrogen maintains a strategic investment in Botswana-based Botala Energy Ltd, which is advancing coal bed methane projects with promising exploration results and commercialisation pathways targeting the Johannesburg market.

Innovation and Product Development

Pure Hydrogen continues to innovate its vehicle portfolio, offering hydrogen fuel cell, battery electric, and hybrid commercial vehicles designed from the ground up. Recent engineering efforts have produced two new hybrid models; the HD100C Hybrid Coach and the TG23 Hybrid Low Cab Rigid Truck; designed to provide cost-effective, lower-emission alternatives with fuel savings exceeding 35% compared to diesel equivalents. While these models have attracted significant interest, firm orders are yet to be secured.

The company’s product mix strategy balances increasing electric vehicle sales in Australia, supported by government incentives, with hydrogen solutions targeted at North American markets where subsidies make hydrogen commercially attractive.

Rebranding and Strategic Positioning

Reflecting its broader clean energy ambitions beyond hydrogen, Pure Hydrogen plans to change its name to Pure One Corporation Limited. This rebranding aims to provide strategic clarity, support diversification, and maintain brand equity while signalling leadership and innovation in the zero-emission transport and clean energy sectors.