Pure Hydrogen sets sail with Aus Ships hydrogen agreement

Pure Hydrogen’s efforts to build the hydrogen economy have borne fruit with the signing of a terms sheet with Aus Ships Group for the delivery of hydrogen fuel to the marine sector.

Under the agreement, the two companies will form a joint venture to deliver hydrogen fuel cell generators, hydrogen fuel supply and/or fuel cells to the sector.

Aus Ships Group is a well-established marine company that designs, builds and maintains marine vessels for a range of applications including passenger transport, tourism, government and pleasure.

Pure Hydrogen (ASX:PH2) will initially supply a hydrogen fuel cell generator in mid-2023 to recharge batteries for a battery-powered marine vessel.

Future developments are expected to include the delivery of fuel cells to replace internal combustion generators and reduce the number of batteries.

The company will also supply the hydrogen and refuelling options at marine locations.

“The commercial marine sector presents a large market opportunity for Pure Hydrogen and forming JV Co with an experienced and long-established operator like Aus Ships Group means we can tap an established customer base and achieve revenue generation more rapidly,” managing director Scott Brown said.

“We are already advancing the supply of a hydrogen fuel cell generator, and we anticipate building a steady pipeline of opportunities beyond this.

“The marine transport sector represents another plank for Pure Hydrogen to build out its hydrogen ecosystem which includes the manufacture and supply of hydrogen fuel and investing in opportunities to commercialise and sell related infrastructure such as vehicles and power generation equipment.”

Aus Ships director Tommy Ericsson adds that the JV will provide his company’s clients with access to market leading hydrogen technology and green hydrogen supply in a fully integrated solution, which is a critical factor as the industry transitions to a decarbonised future.

Marine hydrogen

Hydrogen fuel cells provided under the agreement are expected to be used for between 4-6 hours per day on marine vessels before charging is required.

Aus Ships, which is committed to developing efficient, low and zero emission marine vessels, is looking at designing boats or ships in the future with the hydrogen fuel cells on board the vessel so that electricity can be generated on board without the long recharging times at the wharf.

Both companies are looking to revolutionise the marine mobility market in Australia and New Zealand by providing green hydrogen fuel and hydrogen fuel cell generators to help reduce emissions and cost.

The immediate goal is to have 100% clean domestic hydrogen fuel replacement in Queensland by 2032.

Pure Hydrogen noted that with about 36 passenger ferries in Brisbane and more than 2,600 ships that the Brisbane Port facilitates per year, the impact of converting even a small percentage of marine vessels to a cleaner fuel source such as hydrogen would be significant.

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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