Pure One Corporation Limited has advanced its zero-emission mobility strategy with a new local vehicle assembly partnership, expanded US hydrogen market collaborations, and progressed the spin-out of its Australian gas assets via Eastern Gas IPO.
- Manufacturing partnership with Advanced Manufacturing Queensland for local zero-emission vehicle assembly
- Joint Market Development Agreements with US hydrogen companies Utility Global and Hago Energetics
- Eastern Gas IPO progressing with strong investor interest exceeding $5.5 million
- Sale agreement for 40% interest in Turquoise Group expected to yield $3.4 million profit
- Secured $2.5 million strategic funding facility supporting vehicle deliveries and growth
Strategic Manufacturing Partnership
Pure One Corporation Limited (ASX, P1E), a clean technology company specialising in zero-emission mobility and energy solutions, has taken a significant step forward by signing a Term Sheet with Advanced Manufacturing Queensland (AMQ). This partnership aims to establish local assembly and integration of hydrogen fuel cell systems into zero-emission vehicles at AMQ’s Brisbane facility. The collaboration is designed to reduce delivery lead times, enhance supply chain resilience, and support growing demand for zero-emission vehicles across Australia and export markets.
Additionally, Pure One will market and sell the Ford F-150 Lightning battery-electric vehicle to its domestic customer base, leveraging its established relationships in industrial and transport sectors. This move diversifies Pure One’s revenue streams and strengthens its position in the battery-electric vehicle market.
Expanding Footprint in the US Hydrogen Market
In November 2025, Pure One entered into a Joint Market Development Agreement with Utility Global, a Houston-based hydrogen technology firm. This agreement facilitates the deployment of Pure One’s hydrogen fuel cell vehicles in the US, aligned with Utility Global’s hydrogen production capabilities. The collaboration focuses on pilot projects and vehicle demonstrations, aiming to synchronise vehicle rollout with hydrogen supply to mitigate operational risks for customers.
Further strengthening its US strategy, Pure One signed a Memorandum of Understanding with California-based Hago Energetics. Hago’s decentralised hydrogen production from waste gases complements Pure One’s vehicle deployment plans, supporting early fleet adoption in key US regions. Both agreements have initial three-year terms, positioning Pure One for sustained growth in the US zero-emission transport market.
Corporate Evolution and Asset Spin-Out
Reflecting its broader clean energy focus, Pure One completed a corporate rebrand from Pure Hydrogen Corporation Limited to Pure One Corporation Limited in December 2025. This change underscores the company’s multi-technology platform encompassing hydrogen fuel cells, battery-electric vehicles, and battery-swap solutions.
On the asset front, Pure One progressed the spin-out of its Australian gas assets through Eastern Gas Corporation Limited, which lodged a Replacement Prospectus seeking to raise approximately $5.5 million. The IPO has attracted applications exceeding the target, signalling strong investor confidence. Post-IPO, Pure One will retain a 69.4% stake, allowing focused management of gas projects like Windorah and Venus while maintaining strategic exposure.
Financial Position and Portfolio Optimisation
Pure One secured a $2.5 million strategic funding facility in October 2025 to support vehicle deliveries and near-term growth initiatives. As of 31 December 2025, the company held $1.9 million in cash with undrawn credit facilities of approximately $7.9 million, providing a solid liquidity buffer during this critical commercial phase.
The company also agreed to sell its 40% interest in Turquoise Group Pty Ltd for AUD 5.0 million, expected to generate a profit of around AUD 3.4 million. This divestment aligns with Pure One’s strategy to focus capital on core zero-emission mobility and clean energy technologies.
Operational Milestones and Sales Pipeline
Operationally, Pure One successfully handed over a hydrogen fuel cell rear loader waste collection vehicle to Solo Resource Recovery for Byron Bay Council, marking a key commercial deployment in a municipality committed to emissions reduction. The vehicle’s operation during a peak demand period validates the technology’s readiness and reliability.
While no new vehicle sales were finalised during the quarter, Pure One’s sales pipeline remains active across domestic and international markets. The company continues to engage with customers in logistics, construction, and heavy industry sectors, progressing technical and regulatory approvals to convert opportunities into contracted orders.
Bottom Line?
Pure One’s strategic partnerships, capital raises, and operational progress position it well for scaling zero-emission mobility solutions, but execution risks and market adoption remain key watchpoints.
Questions in the middle?
- How quickly will Pure One convert its active sales pipeline into firm vehicle orders?
- What are the timelines and risks associated with the Eastern Gas IPO and subsequent project developments?
- How will Pure One balance investment across hydrogen, battery-electric, and gas assets amid evolving market dynamics?