Is Aussie hydrogen vehicle maker H2X Global listed on the ASX?

There’s a little Aussie hydrogen company, known as H2X Global, which is making a splash in the alternatively powered automotive industry. Given the staggering US$100 billion Nasdaq debut of electric vehicle maker Rivian Automotive Inc (NASDAQ: RIVN) last week, it might not be surprising if it’s not the ASX that H2X Global is eyeing off. Instead, opting for a US-listing next year.

Many people probably have never heard of H2X. Yet, the company already boasts over 250 order-interests for its Warrego ute from across Australia, Netherlands, Germany, and Malaysia. The vehicle is planned to be built in Gippsland, Victoria, and will feature hydrogen fuel cell hybrid technology.

Let’s take a closer look at what the company has to offer.

What is H2X Global?

As previously mentioned, H2X Global is not on the ASX. But it could be on exchange soon as it delivers on its goals.

The company is focused on the production of hydrogen-powered vehicles. In the process, it aims to be the country’s first hydrogen fuel cell electric vehicle manufacturing company.

According to its website, H2X has developed its own proprietary fuel cell and powertrain system. This system is at the crux of the company’s various light equipment vehicles. These are expected to include a van, minibus, SUV, and a ute — with the Warrego ute being its first attempt at production. The technology itself is designed to drastically reduce refuelling time and increase driving range.

Furthermore, the management team features a number of highly experienced personnel. For instance, CEO Brendan Norman holds 20 years of experience, working with automotive giants such as BMW Group (ETR: BMW) and Audi Group — owned by Volkswagen Group (ETR: VOW3).

Could it ditch the ASX for the big smoke?

In recent weeks, H2X seems to have made substantial inroads on its plan to produce more hydrogen vehicles. On 5 November, it was revealed that the company had signed a deal with Malaysia’s government-owned Sarawak Economic Development Corporation (SEDC).

As part of this deal, H2X is expected to supply and assemble a range of vehicles, including in excess of 50 buses over the next 18 months.

Originally, an ASX listing of H2X Global had been announced in July. Since then, the company has stated it’s planning for a ‘major exchange listing’ next year. While some publications have inferred H2X will list on the Nasdaq, that has not yet been publicly confirmed by the company.

Finally, let’s take a look at a quick comparison between H2X and Rivian. As per the Aussie company’s last update, the Warrego ute has 250 orders. Meanwhile, Rivian’s R1T and R1S models have more than 48,000 preorders.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled, or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

Source: This article has originally appeared on The Motley Fool

Growing demand for H2X ute a taste of the hydrogen future

Interest in H2X Global’s ground-breaking Warrego ute is growing with over 250 order-interests received from Australia and countries such as the Netherlands, Germany and Malaysia.

The vehicle, which will be officially launched early next year on the Gold Coast, features a 750km driving range courtesy of the company’s Hydrogen Fuel Cell Hybrid technology and will be built in Gippsland, Victoria.

H2X chief executive Brendan Norman said that while the number of order interests had exceeded the company’s expectations, he was unsurprised given hydrogen’s growing stature as the fuel of the future.

“One of the first companies to buy the ute was green energy solutions and hardware provider, Veida,” he added.

“Its director Haim Ptasznik explained that with hydrogen offering parity with diesel on a kWh-to-kWh basis, the Warrego was the ‘go to’ vehicle that green energy pioneers and early adopters had been waiting for.”

Ptasznik noted that Veida worked with its clients to create alternative, green energy solutions and that H2X enabled his company to be the first to integrate hydrogen vehicles and their powertrains into its solutions.

The growing popularity of the Warrego, which is the first of many hydrogen fuel cell vehicles that H2X is developing, is particularly welcome ahead of the company’s planned listing on a major stock exchange and push into new markets to establish itself as a global premium hydrogen vehicle manufacturer.

Warrego ute

The basic Warrego ute combines a 200kW motor, a 66kW hydrogen fuel cell and 60kW energy storage system to deliver a range of up to 750km on a mix of highway and city roads while offering quick refuelling times of between three to five minutes.

It is capable of carrying up to 1,000kg in the tray and towing up to 2,500kg and there are options such a larger 90kW hydrogen fuel cell and bigger 100kW energy storage system to improve performance.

Source: This article has originally appeared on Stockhead

H2X will present its hydrogen fuel cell breakthroughs at COP26

As a headline participant, the company will be one of a select few innovative companies leading the way in renewable technologies that will share their technological breakthroughs with leaders at the conference, also known as the COP26 summit, in Glasgow, Scotland.

H2X says the invitation is a validation that the company is a global leader in technological advancements that are tackling climate change.

The company has developed its own highly efficient hydrogen fuel cell technology and hydrogen power trains for vehicles and machinery.

This tech will be used in its Warrego Ute, a fuel cell electric utility vehicle set to be manufactured in Gippsland, Victoria, which has already drawn more than $50m in pre-orders.

“The global hydrogen market is accelerating with governments around the world committing billions of dollars in incentives to accelerate the transition to renewable energy and meet their net zero emissions targets,” chief executive Brendan Norman said.

“Hydrogen fuel cells have become a key focus for many given the technology advancements that have enabled hydrogen FCEVs to refuel more quickly and travel longer distances.

“H2X is pushing into new markets, with a series of products due for release in the coming months that will show new ways of working with hydrogen and bringing clean energy to many different applications in cities.”

H2X Fuel Cell Tech

The company’s Hydrogen Fuel Cell Hybrid technology is designed to drastically reduce refuelling time and increase driving range and hydrogen efficiency.

Its modular platform allows the hybrid energy system and fuel cell to be customised to maximise efficiency and performance according to the user.

Besides the Warrego ute, development has also started on a range of additional vehicles, including heavy-platform vehicles.

H2X recently reached an agreement with the Gippsland Circular Economy Precinct to manufacture hydrogen fuel cells, electrolysers, hydrogen fuel cell powered vehicles, and a range of hydrogen power units including generators and emergency power supplies in the region.

It also formed a strategic partnership with hydrogen developer Pure Hydrogen (ASX:PH2).

Source: This article has originally appeared on Stockhead

H2X wants to build its hydrogen fuel cell vehicles in Gippsland

H2X Global is progressing its goal of building a hydrogen economy in Australia with plans to build hydrogen fuel cell electric vehicles in Gippsland, Victoria.

Under the agreement with the Gippsland Circular Economy Precinct (GCEP), the company will seek to manufacture hydrogen fuel cells, electrolysers, hydrogen fuel cell powered vehicles and a range of hydrogen power units including generators and emergency power supplies in the region.

GCEP is a consortium of Gippsland-based businesses who recognised the need to transition the local economy from brown coal power generation to renewables.

The support of H2X, which developed its own highly efficient hydrogen fuel cell technology and hydrogen power trains for vehicles and machinery, is expected to help fast-track these transition plans.

“This is a great opportunity for Gippsland to engage with hydrogen technology and provide new enterprises, new jobs and training in support,” H2X founder and chief executive officer Brendan Norman said.

“We aim to assist in establishing Gippsland as the world’s preeminent location of green hydrogen excellence.

“We are now investigating a number of manufacturing options including fuel cell production and some vehicles.”

GCEP executive director Brett Singh added that the region’s high level of engineering, power generation and manufacturing expertise was a major factor in the decision to establish the centre of excellence and renewables precinct in the area.

The agreement has also drawn strong community support.

H2X Global

H2X recently formed a strategic partnership with hydrogen developer Pure Hydrogen (ASX:PH2), which saw the latter issue 8.62 million shares to acquire a 24% stake in the company.

This could increase to 48% if the attached share options are exercised.

The company also secured more than $50m in pre-orders for its Warrego FCEV ute.

Source: This article has originally appeared on Stockhead.

Pure Hydrogen acquires strategic stake in fuel cell play H2X Global

Pure Hydrogen is advancing its ambition to be a leader in the hydrogen sector by acquiring a 24% stake in fuel cell pioneer H2X Global.

The agreement recognises the value of H2X’s Hydrogen Fuel Cell Hybrid technology, which powers its Warrego ute that is expected to be on sale in the first half of 2022, and will see the two companies establish a joint venture company, Pure X Mobility, that will develop and sell hydrogen fuel cell trucks and buses such as waste disposal trucks and concrete agitators.

Pure Hydrogen (ASX:PH2) is acquiring the stake in H2X through the issue of 8.2 million shares with some escrow conditions and will receive share options that will take its interest up to 48% if exercised.

It will also become the preferred supplier of hydrogen to H2X.

Pure Hydrogen managing director Scott Brown noted that H2X is at the forefront of the ground-breaking innovation that hydrogen represents in the automotive sector given its potential to cut fuel costs by up to 30% compared to diesel.

“Partnering with H2X not only makes good commercial sense but it also puts Pure Hydrogen in the driver’s seat to capitalise on new and evolving hydrogen technology,” he added.

“We believe this will be a good investment opportunity for Pure Hydrogen, we have achieved it with very minimal dilution and we can bring our strong balance sheet and funding channels as a public company to more aggressively fast-track H2X’s commercialisation plans.

“We are also very excited about the prospects for the Pure X Mobility and its planned focus on developing hydrogen fuel cell powered heavy vehicles such as cement mixers and garbage trucks.

“These industries are logical ‘starters’ for Pure X Mobility as they are short run operators where refuelling can be managed at back-to-base locations. Targeting sectors where we can rapidly bring heavy vehicles to market will be Pure X’s focus and makes logical commercial sense.”

H2X chief executive Brendan Norman added that working with an early mover like Pure Hydrogen would not only provide a solid foundation to build its network of customers, it would also align it with a significantly skilled scientific and technical partner to build a solid platform in Australia as a leading force in the rapidly growing global hydrogen economy.

“As technology leaders and innovators with a track record of bringing hydrogen-powered vehicles to market in what is a new and emerging global industry aligns well with Pure Hydrogen’s growth strategy,” Norman noted.

“We have an excellent platform in place to rapidly bring a range of vehicles to market in relatively short order.”

Hydrogen Initiatives

Pure Hydrogen’s investment in H2X is timely given its discussions with a range of large industrial users for back to base operations that are considering using hydrogen trucks.


It has also been working closely with well-known truck and bus manufacturers and is building a hydrogen ecosystem that can provide hydrogen solutions including trucks, buses and work vehicles together with the hydrogen fuel to power these vehicles.


The company noted that its agreement with H2X fast-tracked these negotiations and developments.


It added that it would shortly announce off-take and supply arrangements together with some additional partners to assist in the development and commercialisation of its multifaceted solution.


This comes as hydrogen demand is forecast to increase tenfold to more than 500 million tonnes by 2050.


Transportation is of special interest given that it is one of the largest sources of greenhouse gas emissions globally and has been identified as one of the primary early adopters of hydrogen.


Source: This article has originally appeared on Stockhead.

H2X Global plans major exchange listing

H2X Global is plotting its course to a major exchange listing and is pushing into new markets in a bid to establish itself as a global premium hydrogen vehicle manufacturer. 

The company, which is undertaking a small initial capital raising, is planning to roll out a series of products in the coming months that will show new ways of working with hydrogen and bring clean energy to many different applications in cities.

One of H2X’s products is a light duty (30-75 kilowatts) optimised hydrogen fuel cell hybrid powertrain aimed at drastically reducing the refuelling time, improving efficiency and increasing the driving range of a vehicle.

A hydrogen fuel cell is a device that generates electrical power by a chemical reaction via conversion of fuel (hydrogen) into electricity.

Fuel cells allow a vehicle to be refuelled in a similar way and speed to traditional petrol-run vehicles.

H2X’s initial target market is high-use vehicles for commercial and sharing purposes where the availability of the vehicle is key.

The company says a fuel cell vehicle is more convenient and effective than a battery electric vehicle because it significantly reduces the time a vehicle is off the road for refuelling, which is crucial for commercial vehicles.

Explaining H2X’s approach to market, CEO Brendan Norman said the company worked with hydrogen infrastructure providers to establish ecosystems that were cost effective from the start.

“We look to offer multiple applications of vehicles to make it easy to reach a critical mass in one location,” he said. “This supports not only the refuelling exercise, but also allows us to establish high-quality after sales operations in all locations that our customers will be using hydrogen.

“Hydrogen ecosystems require a minimum volume to hit the market – our products focus on this market.”

H2X is also developing multiple light vehicles using the H2X powertrain system – a common chassis using sophisticated localised and renewable biocomposite materials.

The company has developed a modular power concept that enables the fitting of H2X power systems to existing and new heavy equipment, allowing for faster development of the hydrogen economy.

Hydrogen fuel cells in the spotlight

Hydrogen fuel cells have become a more mainstream focus for those in the industry, given the technology advancements that have enabled fuel cell electric vehicles (FCEVs) to refuel more quickly and travel longer distances.

Market researcher Research and Markets predicts the hydrogen fuel cell vehicle market will grow from around $US16bn in 2020 to nearly $US27bn by the end of 2025 at a compound annual growth rate of 11.23%.

Hydrogen technology is attracting significant investment from not only those developing the tech but retail and institutional investors as well.

Case in point is the recent strong investor support Pilot Energy (ASX:PGY) received for its capital raising, which attracted firm commitments from sophisticated, institutional and professional investors totalling $8m.

Pilot recently announced its expansion into the hydrogen and renewables space.

Decades of automotive experience

The team behind H2X has decades of experience in vehicle development, starting with CEO Brendan Norman who has spent nearly 30 years in top management with major car makers predominantly BMW and Audi/Volkswagen.

During his time at Volkswagen Group, including leading Asia Pacific regional strategy saw the growth of the Group in the region grow into 4-digit percentage territory over a 10-year period.

H2X head of design vice president Chris Reitz has 27 years of design experience, including as head of design for, Fiat and Nissan Europe and significant roles with Audi/Volkswagen.

“Our approach on the vehicles is a complete redesign of the concept of how we build it,” Reitz said.

“The production of vehicles can be optimised significantly with clean energy powertrains because of the shape and integration of the powertrains.

“We have exciting developments for efficiency, performance and to a very large extent in terms of use of renewable materials and clean manufacturing process.”

H2X’s Fuel Cell Team has more than 20 years’ experience, several different models of passenger cars, trucks and buses developed for other manufacturers, of which thousands of units have been delivered.

The company’s chief technology officer, Ian Thompson, also has an impressive CV that details a long career working on projects for big names like Tesla, Bentley, Aston Martin, Volvo and Maserati.

“One of our city focused vehicles will have a different hybrid battery solution to a city vehicle, where we are working with more dynamic technologies to maximise retention of Kinetic Energy, which is our focus,” Norman said.

Source: This article has originally published on Stockhead.