Pure Hydrogen Corporation's MOU with Vietnam ASEAN Hydrogen Club

Australian clean energy company Pure Hydrogen Corporation Limited (ASX: $PH2) has signed a Memorandum of Understanding (MOU) with the Vietnam ASEAN Hydrogen Club (VAHC) to supply up to five hydrogen-powered buses for a demonstration in Ho Chi Minh City. The MOU sets out the framework for the supply of the buses, along with associated hydrogen infrastructure, to showcase zero emission vehicles as part of Vietnam's target to achieve net-zero emissions by 2050.

Executive Commentary on MOU with Vietnam ASEAN Hydrogen Club

Pure Hydrogen's Managing Director, Mr Scott Brown, expressed his pleasure in signing the MOU, highlighting the company's role in implementing clean energy alternatives for passenger transport services in Vietnam. He emphasized the extensive negotiation and collaboration involved in reaching this agreement and expressed optimism about the growing global interest in their products leading to more orders in the future.

Summary of Pure Hydrogen Corporation's MOU with Vietnam ASEAN Hydrogen Club

Pure Hydrogen Corporation Limited's MOU with the Vietnam ASEAN Hydrogen Club involves supplying up to five hydrogen-powered buses for a demonstration in Ho Chi Minh City, funded by VAHC in conjunction with the Vietnam Tourism Partners and Industrial Partners. The demonstration aims to highlight the end-to-end use case for hydrogen vehicles as part of Vietnam's passenger transport infrastructure. This initiative aligns with Vietnam's goal to achieve net-zero emissions by 2050, targeting a significant reduction in diesel bus fleets. The MOU is expected to generate revenues of approximately $8.8M for Pure Hydrogen, reflecting the company's commitment to leading the transition to clean energy solutions for passenger transport services. The company looks forward to providing further updates on its vehicle sales pipeline in the second half of CY2024.