Dear Investors, Colleagues, Customers and Partners,
Friday 5th April, marks two months since I assumed the role of CEO at H2X. In that short period, I am encouraged by the immediate positive changes we’ve made in refocusing our business. Our priority is now directed towards achieving a significant milestone: becoming the pioneer in producing the world’s first hydrogen-powered 4×4, the “Warrego.” I am particularly pleased by the board’s recent decision to elect James Walker as Chair of H2X. James’s 30 plus years of executive and board experience adds a wealth of knowledge in scaling businesses and in LSE IPOs given his experience as CFO of Seeing Machines Ltd (LSE:SEE) in their London public market debut.
H2X is also grateful for continued government support from Australia, the Netherlands, and Sweden, who are assisting in the commercialization of hydrogen vehicles. As you may be aware, H2X already has an order book totaling a max. of AUD $48.5 million. Our technology and team are ready to fulfil these orders in a timely and efficient manner. In anticipation of Warrego’s EU homologation, we are
in the process of reconfiguring our website to enable the acceptance of vehicle deposits, enhancing accessibility for further orders.
To facilitate these immediate milestones, we have launched a small capital raise with our corporate advisor, Barclay Pearce Capital (BPC). This funding will complete accreditation for Warrego for road use in Europe and the UK, a significant moment for H2X. Any Wholesale investors seeking further information on this current investment opportunity, please contact BPC or myself. I wanted to bring to your attention that the current offer is scheduled to close on 12 April (this Friday). However, due to high demand, there is a likelihood it will close early. If you are interested in participating, I advise you not to wait until the deadline Inside the business, our Dutch engineering site recently hosted a global Toyota fuel cell team. Our partnership with Toyota Motor Corporation remains pivotal as we collaborate on the powertrain design of hydrogen Fuel Cell Electric Vehicles (FCEVs) and allow H2X access to the best fuel cell in the world, without the
development cost. During this meeting, we unveiled our new product portfolio= plans, including the Warrego, Paroo, and Yarra models, outlining our long-term volume projections, and showcased our proprietary technology that scales across our models, significantly our unique H2 tanks. The Toyota team was enthusiastic about our plans and will remain a close partner moving forward.
For our London-based shareholders, H2X’s CTO, Ian Thompson, will be speaking at the Smart Manufacturing for Automotive Europe 2024 conference. Ian will present on how H2X’s Micro Factory achieves flexibility and efficiency in producing customised vehicles. Ian has vast automotive experience, including the: Opel Speedster, Proton Satria GTI, famously representing Lotus and designing and retrofitting the first 1,300+ Tesla Roadsters and now the H2X Warrego. Finally, for those interested in hearing a bit more about hydrogen as a commercial fuel and H2X’s place in the value chain, I highly recommend you listen to the BPC Corporate Showcase podcast. As battery-powered solutions encounter limitations, particularly in applications such as 4x4s, Vans, and Trucks, hydrogen emerges as a compelling alternative. Our vehicles offer unparalleled reliability across a wide temperature range, swift refueling times, and superior haulage capacity, positioning H2X as the preferred choice for various commercial driving applications.For existing shareholders, I invite you to a company update at 11am (Sydney time) on Tuesday, 9 April. I look forward to providing you with an update on recent progress, upcoming milestones, and our overall strategic direction.
Thank you for your continued support for H2X.
Warm regards,
Antony Tolfts
Chief Executive Officer,
H2X Global