Real Energy Corporation Ltd’s (ASX:RLE) 100%-owned Pure Hydrogen Corporation and HYZON Motors Australia Pty Ltd, a subsidiary of US-based HYZON Motors Inc, have signed an MoU aimed at developing a network of hydrogen refuelling points in Australia.
The MoU also provides a framework on how both companies can work together to provide hydrogen solutions to end-users, which will likely be fleet customers.
It includes referring potential customers and collaboratively working to develop a network of hydrogen refuelling points.
Both companies have also agreed to work on a ‘wet hire’ option where potential customers will secure HYZON’s vehicles as part of a package that includes the vehicle’s cost, scheduled services and hydrogen fuel as part of one monthly payment.
“Number of other initiatives”
Pure Hydrogen’s Scott Brow said: “We look forward to providing regular updates as the MoU progresses.
“As well, we have a number of other initiatives underway which will clearly reflect the value we are building in the Pure Hydrogen business.
“We believe we can build significant value in our Pure Hydrogen business for our shareholders and look forward to working with HYZON.”
HYZON Motors was established in the US in January 2020 as a new business from parent company Horizon Fuel Cell Technologies Pte Ltd.
The company is a global supplier of zero-emissions hydrogen fuel cell-powered commercial vehicles, including heavy-duty trucks, buses and coaches.
HYZON Motors Australia director John Feenan said: “We see Australia as a key market for the integration of hydrogen power technology into hard-to-abate sectors such as heavy transportation.
“This MoU with Pure Hydrogen paves the way for both parties to boost the hydrogen infrastructure capabilities of Australia and propel the nation’s fleet operators towards a zero-emission future.
“We look forward to working with Pure Hydrogen on this shared initiative.”