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- Pure Hydrogen’s (PH2) newly established subsidiary Pure X Mobility signs a term sheet with AKM Earth for the supply of hydrogen fuel cell trucks
- AKM Earth provides environmental management services in southeast Queensland and will use the trucks for its Raw Skips business
- PH2 Managing Director Scott Brown says this supply deal is an excellent example of how the company can bring zero emission commercial vehicles to market
- Company shares are up 1.9 per cent to trade at 53.5 cents
Pure Hydrogen’s (PH2) newly established subsidiary Pure X Mobility has signed a term sheet with AKM Earth.
The term sheet involves Pure X Mobility developing and supplying hydrogen and seven hydrogen fuel cell trucks for AKM Earth’s Raw Skips business.
Based in southeast Queensland, AKM Earth is an environmental management services company who’s committed to sustainability and reducing the impact on quarries and landfills.
The trucks are cost effective and are capable of delivering “considerable” fuel savings over their expected seven-year supply term. According to the company, the hydrogen fuel cells are about twice as efficient as standard combustion engines.
These trucks will be developed in Australia and will be the first provided under the Pure X brand. Once deployed, the Raw Skips hydrogen-powered trucks will be used for short-run, pick-up and delivery of building waste around Brisbane, the Gold Coast and the Sunshine Coast.
“We are delighted to signing this term sheet and we look forward to receiving our Hydrogen Fuel Cell Trucks which will allow us to cut fuel costs while reducing our carbon emissions,” AKM Earth’s Paul Weightman said.
Pure Hydrogen Managing Director Scott Brown also commented.
“We’re excited to work with AKM Earth to deliver these HFCV trucks using proven technology that Pure X Mobility brings. We believe this will be an excellent example of how we can bring zero emission commercial vehicles to market,” he said.
Outside of this supply deal, Pure Hydrogen is in discussions with industrial users considering using hydrogen trucks. Its goal is to build a hydrogen ecosystem that can provide hydrogen solutions including trucks, buses and work vehicles with hydrogen fuel for power.
Company shares were up 1.9 per cent to trade at 53.5 cents at 1:55 pm AEDT.
