H2X Global Announces Strategic Leadership Transition

H2X Global is announcing that Brendan Scott Norman has decided to resign from his position on the Board of Directors. While this was a difficult decision, it comes at a pivotal moment as the company restructures ahead of an anticipated IPO on a global exchange. Brendan will remain a major shareholder and a committed supporter of H2X, continuing to champion the company’s vision and mission.

Brendan expressed his sentiments about the decision:
“The decision to move on was difficult, but it was the right time as the company restructures ahead of an expected IPO on a global exchange. In moving on from H2X, I am happy much important work has already been completed in setting up the business and getting it moving. I would like to thank the Board and shareholders for their continued support.”

James Walker, Chair of H2X Global, commented:
“We understand and respect Brendan’s decision to resign. On behalf of the Board, we sincerely wish him all the best for the future.”
Brendan has already commenced his handover, ensuring a smooth transition. Antony Tolfts, H2X CEO, will cover Brendan’s Board position on an interim basis until the right board member can be appointed ahead of the IPO.

Brendan Norman’s legacy at H2X includes significant contributions to the company’s strategic direction and development. His automotive background, with experience at BMW, VW, and Audi in Australia and Asia, has been invaluable.

Reflecting on his journey, Brendan shared:
” I started with BMW in Australia and then moved into Asia with BMW, Audi, and Volkswagen. I was working in Asia for a long time, including Japan, Korea, Southeast Asia, Singapore, China, and later Europe. My experience with hydrogen vehicles goes back to 2008, working as an advisor and setting up another hydrogen company. The development group I’ve been part of has put several thousand hydrogen vehicles on the road in China, specializing in buses and trucks. This background has given H2X a great foundation in hydrogen fuel cell technology.”

Antony Tolfts, H2X CEO, stated:
“Brendan’s departure marks a significant moment for H2X. His dedication and vision have been instrumental in bringing the company to where it is today. We are now well-positioned to focus on our core business activities and drive sustainable revenue and growth. I would like to express my gratitude to Brendan for his contributions and look forward to continuing the journey with the support of our shareholders and board.”

H2X Board and Management have always seen public markets as the best pathway to maximising shareholder value and providing access to deep pools of capital. Becoming a listed company will not only provide additional capital but also affirm H2X’s robustness and long-term viability, demonstrating our capacity to handle rigorous disclosure and scrutiny.

H2X Global remains committed to its mission of developing and deploying Hydrogen Fuel Cell Electric Vehicles (FCEVs) for “back to base” logistic vehicle fleets, including Buses, Trucks, Delivery Vans, and Taxis. Our focus on zero-emission vehicles and quick refuelling technology positions us at the forefront of the hydrogen mobility revolution.
For more information, please contact: [email protected]

Sincerely,

Antony Tolfts 

CEO, H2X Global

Media Contact: [email protected] 

 

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About H2X Global

Zero emissions, extended driving ranges, and 5-minute refuelling times—H2X Fuel Cell Electric Vehicles set the standard for commercial transportation. Offering the world’s only hydrogen-powered 4×4 and a proprietary battery-free power system, H2X drives the future.

H2X – Improve Earth.

 

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About Antony Tolfts 

Antony Tolfts recently joined H2X Global as CEO, bringing extensive experience from his previous role as CEO of Blu Horseshoe, where he developed a digital capital raising platform. His background includes senior roles at the Sydney Stock Exchange, overseeing Listing, Market Operations, and Admission & Compliance. Antony holds an MBA in Corporate Finance and a BCom, along with certifications as a Project Management Professional (PMP). He also serves on the board of the UCT Trust Australia.

Antony is dedicated to sustainable business practices and has driven significant environmental, social, and governance (ESG) initiatives. At the Sydney Stock Exchange, he was instrumental in establishing the world’s first ESG board for qualifying companies and played a key role in the bid to establish an Australian Carbon Exchange. He partnered with the United Nations on projects such as the “Ring the Bell” campaign for gender equality and the Sustainable Stock Exchanges Initiative. Antony has also contributed to important publications, including the UN’s paper on advancing gender equality through exchanges.

Additionally, Antony won Computershare’s inaugural Green Oscar competition, enhancing productivity, reducing costs, and maintaining audit support. His diverse experiences and commitment to ESG principles continue to drive positive change in the corporate world.

Dear Investors, Colleagues, Customers, and Partners,

As I reflect on my first three months as your CEO, I am pleased to report the significant progress H2X Global has made through our refocused strategy of accelerating vehicles to market via the more cost-effective and faster retrofit approach. With every day, I am more confident H2X Global will become a successful hydrogen-powered vehicle manufacturer, contributing to the decarbonization of commercial transport.

Recent Capital Raise 

In my previous CEO letter, I highlighted our capital-raising efforts to advance the production of the world’s first hydrogen-powered 4×4, the Warrego. I am delighted to confirm that the H2X Offer, led by Barclay Pearce Capital (BPC) was oversubscribed. We are grateful to our new and returning investors for your trust and support. This funding ensures we have the necessary resources to complete the Warrego build and obtain roadworthy accreditation for the European and the UK markets.

Focused Operations

To enhance our operational efficiencies, we have decided to concentrate our immediate efforts on our Dutch facility, which continues to be a hub of activity. In April, we welcomed the Toyota Global Fuel Cell team on site, followed by a visit from Jack Colreavy of BPC in May. In June, Renova will tour our facility to observe their vehicles in production. In July, I will be onsite to oversee the Warrego’s accreditation process for European and UK roads.

The Australian Investment Summit

In an effort to gain exposure to new investors, H2X Global will join a group of Australian companies at the Australian Investment Summit (AIS) in London during the second week of July 2024. Hosted by BPC in partnership with the London Stock Exchange (LSE), this summit will showcase selected Australian companies in the renewable energy, mining, and technology sectors. By participating in the AIS, H2X will have a platform to engage with investors, stock exchanges, brokers, and other stakeholders, offering valuable insights.

Your Board and Management of H2X Global have always seen public markets as the best pathway to maximising shareholder value and providing access to deep pools of capital. Becoming a listed company will not only provide additional capital but also affirm H2X’s robustness and long-term viability, demonstrating our capacity to handle rigorous disclosure and scrutiny. The timing of the AIS coincides with an important period for H2X, including a major tender with a UK State-Owned Enterprise, the completion of the Warrego build, and the commencement of road accreditation for Europe and the UK.

Strengthening Investor Communication 

Transparent and open communication with our stakeholders is a fundamental priority for H2X Global. Our FY2023 materials are finalised, and I look forward to engaging with our investors at our AGM on 27 June 2024. Following our recent investor update webinar, we plan to host another session just before our AGM to discuss our strategic direction and progress. 

We are also eagerly anticipating the results of several European State-Owned Enterprise tenders, with the first major tender outcomes expected at the end of May 2024. Success in any of these tenders would be a significant milestone for the H2X Global team especially as we ramp up production activities to create economies of scale to maximise margins and profitability.

Additionally, we have enhanced our website, www.h2xglobal.com, to better reflect our focused strategy, resulting in improved online engagement. Our website now operates approximately 50% faster thanks to a new hosting service. I encourage you to visit our updated website and share your feedback.

The Australian Federal Budget for 2023-24 includes significant investments in the hydrogen sector, underscoring the government’s commitment to renewable energy. Notably, the $2 billion Hydrogen Head start program aims to accelerate renewable hydrogen production. We are collaborating with RSM Australia to provide a detailed analysis of the 2024 Australian budget and its implications for the hydrogen industry. Look out for this review soon.

 Thank you again for your continued support and engagement. 

 

Sincerely,

Antony Tolfts 

CEO, H2X Global

Media Contact: [email protected] 

 

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About H2X Global

Zero emissions, extended driving ranges, and 5-minute refuelling times—H2X Fuel Cell Electric Vehicles set the standard for commercial transportation. Offering the world’s only hydrogen-powered 4×4 and a proprietary battery-free power system, H2X drives the future.

H2X – Improve Earth.

 

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About Antony Tolfts 

Antony Tolfts recently joined H2X Global as CEO, bringing extensive experience from his previous role as CEO of Blu Horseshoe, where he developed a digital capital raising platform. His background includes senior roles at the Sydney Stock Exchange, overseeing Listing, Market Operations, and Admission & Compliance. Antony holds an MBA in Corporate Finance and a BCom, along with certifications as a Project Management Professional (PMP). He also serves on the board of the UCT Trust Australia.

Antony is dedicated to sustainable business practices and has driven significant environmental, social, and governance (ESG) initiatives. At the Sydney Stock Exchange, he was instrumental in establishing the world’s first ESG board for qualifying companies and played a key role in the bid to establish an Australian Carbon Exchange. He partnered with the United Nations on projects such as the “Ring the Bell” campaign for gender equality and the Sustainable Stock Exchanges Initiative. Antony has also contributed to important publications, including the UN’s paper on advancing gender equality through exchanges.

Additionally, Antony won Computershare’s inaugural Green Oscar competition, enhancing productivity, reducing costs, and maintaining audit support. His diverse experiences and commitment to ESG principles continue to drive positive change in the corporate world.

As the automotive industry transitions towards sustainable energy sources, hydrogen has emerged as a leading alternative to traditional fossil fuels. At H2X Global, we are at the forefront of this shift, specializing in Hydrogen Fuel Cell Electric Vehicles (FCEVs). This article provides a professional comparative analysis of hydrogen combustion engines and hydrogen fuel cell vehicles, emphasizing the advantages and challenges of each technology.

Historical Context

Since the 1920s, Internal Combustion Engine (ICE) vehicles powered by gasoline and diesel have dominated the automotive landscape. However, the environmental impact of fossil fuels has necessitated the search for cleaner, more sustainable alternatives. Hydrogen, with its potential for zero-carbon emissions, has become a pivotal element in this pursuit.

For automotive businesses, the transition from fossil fuels to electrified vehicles has become a global trend, particularly for personal vehicles. However, larger vehicles have encountered significant challenges with Battery Electric Vehicles (BEVs), such as extended charging times and the weight of batteries, which compromise runtime and cargo capacity.

Hydrogen, a zero-carbon fuel compressed to 350 or 700 bar in specially designed tanks onboard the vehicle, offers a viable solution. It provides energy in a manner similar to gasoline or diesel tanks in traditional vehicles. Given that hydrogen’s distribution and refuelling infrastructure closely mirror that of conventional fuels, it is particularly appealing for businesses with time-critical operations. Importantly, both hydrogen combustion and fuel cell vehicles can be refuelled at the same stations.

Hydrogen Combustion Engines (H2-ICE)

Hydrogen combustion engines function similarly to traditional ICEs but use hydrogen as fuel instead of gasoline or diesel. This approach leverages existing ICE technology, providing a familiar and tested alternative for many companies.

Hydrogen Fuel Cell Electric Vehicles (FCEVs)

FCEVs convert hydrogen into electricity through a chemical reaction within a fuel cell, emitting only water and heat as byproducts. This technology offers a fundamentally different approach compared to combustion engines, emphasizing electric propulsion.

Comparative Analysis

Aspect	Hydrogen Combustion Engines (H2-ICE)	Hydrogen Fuel Cell Electric Vehicles (FCEVs)
Emissions	Trace amounts of CO2 and NOx, requiring exhaust treatments	Zero emissions, only water and heat
Efficiency	Lower efficiency, requires more hydrogen for the same range	Higher efficiency, less hydrogen needed for the same range
Technology	Utilizes well-established ICE technology	Emerging technology with ongoing development
Hydrogen Purity	Can operate with lower-quality hydrogen	Requires high-purity hydrogen for optimal performance
Power Output	Effective at higher loads, capable of producing substantial power	Consistent power output with regenerative braking
Maintenance	Similar to traditional ICE vehicles	Fewer moving parts, leading to lower maintenance costs
Adoption	Easier to adopt due to familiar technology	Still in early stages of widespread adoption
Fuel Type	Hydrogen (Zero carbon-based)
Fuel Delivery System	Onboard H2 tanks at 350Bar or 700Bar
Refuelling Infrastructure	Shared Hydrogen stations infrastructure

 

Conclusion

H2X Global is committed to advancing hydrogen fuel cell technology, recognizing its superior benefits in terms of efficiency, zero emissions, and reduced maintenance. While hydrogen combustion engines offer a familiar and immediate solution, H2X believe the future of sustainable transportation lies in the adoption of FCEVs. By focusing on “back to base” logistic vehicle fleets such as utility vehicles (Utes), buses, trucks, delivery vans, and taxis.

H2X are driving the change towards zero-emission transportation, with hydrogen technology leading the way, follow us to be a part of this journey. 

Welcome to our continuing H2X’s series on why zero-emission hydrogen-powered vehicles are the future, we now turn our focus to hydrogen safety, highlighting H2X’s bulletproof tanks. Debunking the tank tales.

Design around hydrogen:

Unlike petrol, which risks flammability and accumulation beneath vehicles, hydrogen’s lighter-than-air nature allows for safe dispersal into the atmosphere in the unlikely event of a leak. At H2X we prioritise safety and understand Hydrogen, our vehicle designs incorporate Hydrogen escape paths away from passenger compartments to mitigate any potential risks.

Bullet proof hydrogen tanks:

H2X’s hydrogen tanks are crafted from Carbon fibre at twice the industry standard for bulletproof cars. This extra carbon enhances our tanks’ structural integrity and opens the door to some read worthy testing possibilities.

Toyota and the United States Army Tank Automotive Research, Development and Engineering Center (TARDEC) have researched the resilience of Type IV, 700 bar hydrogen tanks (like those designed by H2X) against external threats. These tests included the rigorous External Violence Safety Test on the tanks’ ability to withstand diverse levels of ballistic impact while still ensuring a controlled release of hydrogen. Bob Carter, Toyota’s SVP for Automotive Operations, emphasized the tanks’ resilience in his speech to the Automotive News World Congress, highlighting their ability to withstand small and large calibre bullets. Similarly, TARDEC’s ballistic live fire tests underscored the tanks’ durability, with only armour-piercing rounds penetrating the Hydrogen Tank, leading to controlled venting without catastrophic failure.

And just when you thought the crescendo complete, TARDEC elevated the stakes by firing a Rocket Propelled Grenade (RPG) at a Type IV Hydrogen Tank. Upon impact, the hydrogen tank was found to be penetrated by the RPG and vent swifty . However, even under such extreme conditions, Hydrogen tank displayed remarkable resilience, remaining otherwise intact, limited shrapnel, and avoided catastrophic bursting.

Beyond Bulletproof

Modern hydrogen tanks also incorporate advanced valves inspired by professional high-pressure firefighting systems, designed to promptly respond to any pressure, thermal, or impact activity. With multiple layers of materials, including additional carbon fibre composites and flame-resistant compounds, our tanks prioritize safety while facilitating rapid and controlled hydrogen release in case of malfunction.

Legislation and Continuous Improvement

Despite historical misconceptions, hydrogen technology has been utilized for industrial purposes for nearly two centuries, ensuring stringent safety standards. H2X Global remains committed to ongoing improvement, actively engaging with global communities and regulatory bodies such as the US DOE’s (Department of Energy or Energy Department)) Hydrogen and Fuel Cell Technologies Office and the AIChE to advance safety measures and best practices.

As we embark on this journey towards a sustainable transportation future, H2X Global invites our partners, collaborators, and customers to join us in driving the change towards hydrogen-powered vehicles.

Follow H2X Global’s journey towards safer, sustainable transportation on our website and social media channels.

#HydrogenMobility #SustainableTransport #ZeroEmmission

The transport sector is responsible for 20 to 30 % of all greenhouse gas emission, urgent action is imperative. Here’s why zero-emission hydrogen-powered vehicles make sense:

 

1. Lower Total Cost of Ownership: With fewer moving parts, Fuel Cell Electric Vehicles (FCEVs) have lower lifetime costs and minimal downtime compared to traditional Internal Combustion Engine (ICE) vehicles.
2. Adaptable: With diverse needs across various vehicle applications, FCEVs emerge as the optimal solution for commercial use. Unlike Battery Electric Vehicles (BEVs), which compromise loading capacity due to heavy batteries, FCEV trucks maintain comparable payloads to traditional ICE vehicles. Additionally, FCEVs offer flexibility by allowing the addition of extra tanks to extend driving range as needed.
3. Harnessing Hydrogen as an Energy Carrier: Both Hydrogen ICE and FCEVs utilize hydrogen as an energy source with more energy friendly storage as opposed to other fuel options.
4. Refuelling Efficiency: Rapid refuelling times of hydrogen-powered vehicles, especially FCEVs, translate into enhanced work capacity and reduced downtime for fleet owners.
5. Seamless Integration into Existing Infrastructure: Hydrogen ICE and hydrogen FCEVs can use the same refuelling stations, many requiring minimal investment for infrastructure adaptation. This contrasts with other electrical charging systems, which require massive investments for a full-scale rollout.
6. Innovative FCEV Technologies: H2X proprietary capacitors do not need any separate lithium batteries, resulting in cleaner energy and superior performance and longevity.
7. Embracing Global Initiatives: From UN Climate Action initiatives to collaborations between cities (https://www.c40.org/cities/ ) transforming transport is a global priority.
8. Shift to Fossil-Free Powertrains: Environmental concerns demand a shift away from fossil-fuelled vehicles. FCEV solutions not only address these concerns but also align with existing user needs.

Follow H2X and join us on the journey towards better transport solutions as we strategically target the commercial transport sector.

Article written by Antony Tolfts, Magnus Olsson, Ian Thompson & Amber Wright