PH2 proposes Pure One rebrand
Company's operations set on supply of BEV and HFC vehicles along with hydrogen equipment
Introduction of new hybrid coach and rigid truck to provide customers with more options to slash emissions
Special Report: Pure Hydrogen is proposing to change its name to Pure One to better reflect its strategic focus on global commercial mobility solutions in the transport sector.
The shift from a product-specific name also aligns with the Company's long-term strategy to drive growth through diversified revenue channels without confusing investors or partners.
Pure Hydrogen (ASX:PH2) notes its operations have now evolved to comprise the supply of both battery electric and hydrogen fuel cell vehicles, as well as hydrogen equipment such as refuelling solutions and small production facilities built into shipping containers for rapid deployment.
In line with its rebrand to Pure One, the Company noted that its Australian operations have been increasingly focused on growing the sales pipeline for its BEVs, which are more commercially viable in the near-term due to lower upfront costs and greater government support.
However, it has also secured hydrogen vehicle orders from large customers across the construction, infrastructure, and waste management sectors including TOLL Transport, Heidelberg Materials, Barwon Water and Solo Resource Recovery.
In the US and Canadian markets, stronger government subsidies and incentives are accelerating hydrogen vehicle uptake, making HFC solutions commercially attractive with the company being well advanced on several sale and distribution agreements.
Shareholder approval for the name change will be sought at the upcoming annual general meeting.
Watch: Pure Hydrogen sells zero-emission garbage truck in first US deal
Product development
PH2 is continuing to update and innovate its product suite in response to evolving customer demand with all of its key vehicle types now available in both hydrogen and electric variants with full Australian Design Rule approvals.
As part of its strategic focus on new vehicle rollouts and product development, the Company recently completed the design and engineering works for two new vehicles.
The HD100C hybrid coach and TG23 hybrid low cab rigid truck present an affordable entry point to clean energy technology, with price points comparable to traditional diesel variants while offering potential fuel savings of over 35% compared to diesel equivalents.
The HD100C hybrid coach. Pic: Pure Hydrogen
The company has already received considerable interest from potential buyers interested in incorporating clean energy solutions into their vehicle fleet with minimal disruption to their existing operations.
HD100C is a 12-metre vehicle that's expected to appeal to bus operators as its price point is lower than other BEV and HFC buses.
TG23 is a 23-tonne hybrid rigid model that combines electric drive with a diesel back-up, making it suitable for regional operations or long-range urban services where charging infrastructure is limited.
'The proposed rebranding to Pure One Corporation reflects our evolving identity and ambitions beyond hydrogen alone, allowing for greater flexibility and clarity as we broaden into a wider clean energy and mobility portfolio,' PH2 managing director Scott Brown said.
'We are pleased with the positive progress made across multiple fronts, including product innovation and a growing sales pipeline that together build strong momentum toward sustainable growth.'
'Our efforts to continually update and diversify the product offering reflect our commitment to meeting varied customer needs globally.'
'Furthermore, Pure remains focused on the execution of its international expansion strategy, led by early traction in North America, which now represents a major addressable market opportunity for the business.'
This article was developed in collaboration with Pure Hydrogen, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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