Pure Hydrogen Signs Supply Agreement with Leading US Truck Distributor GTS
Pure Hydrogen (ASX: PH2) has signed a key agreement to supply its unique hydrogen-powered heavy vehicles to the USA with the signing of letter of intent with leading California-based distributor and leasing company GTS Group.
Under the deal, GTS may purchase Pure Hydrogen’s Class 8 heavy duty hydrogen fuel cell tractor units and a range of rigid trucks for its leasing customers.
Pure Hydrogen is now on target to deliver its first Class 8 tractor in Q4 2025 for GTS to use in customer demonstrations and roadshows with prospective fleet operators.
Rigid Truck Purchases
GTS also intends to purchase a range of rigid trucks suited to waste collection and concrete mixer applications.
The rigid trucks can perform heavy-duty tasks while still delivering the zero-emission benefits of hydrogen fuel cell technology such as fast refuelling, strong payload capacity, and lower operational emissions compared with traditional diesel trucks.
The agreement is subject to a number of conditions, including successful technical due diligence on the vehicles, compliance with US Department of Transportation standards, and the execution of definitive agreements.
Expanded North American Presence
Pure Hydrogen managing director Scott Brown said the agreement is a major opportunity to expand the company’s presence in the North American market.
“We are building nice momentum into the US following our breakthrough sale to Riverview International Trucks in July,” he said.
“GTS has an extensive customer base and a well-established leasing program that will provide an important pathway for scaling the deployment of our hydrogen fuel cell trucks across key fleets.”
“The North American trucking sector represents a major global opportunity for zero emission commercial transport, with demand being driven by both regulatory targets and customer sustainability commitments.”
Capital Raising
The agreement comes after Pure Hydrogen recently raised $1 million via a placement to sophisticated and professional investors.
The placement received strong support from investors and directors, with the managing director subscribing for approximately $50,000 worth of shares.
Pure Hydrogen will direct proceeds from the placement toward expansion of its operations and sales in the US and Australia.
“Showcasing our heavy-duty tractor and hydrogen waste collection truck through roadshows and client demonstrations will be crucial to driving adoption among operators seeking practical, zero-emission alternatives to diesel in one of the world’s largest commercial transport markets,” Mr Brown added.