Sydney– Australian clean energy company Pure Hydrogen Corporation Limited (ASX: PH2 or ‘Pure Hydrogen’) is pleased to announce that it has signed a Memorandum of Understanding (‘MOU’) with Riverview International Trucks (‘Riverview’) to negotiate the distribution and supply of Hydrogen Fuel Cell Electric and Battery Electric Trucks into California.
The MOU provides terms for Pure Hydrogen and Riverview to distribute and supply Hydrogen Fuel Cell Electric and Battery Electric Trucks into California. Riverview is a large and established full-service heavy-duty truck dealership in Northern California, with operations in Sacramento and Redding. Riverview also provides charging infrastructure solutions and distributes Zero Emission commercial vehicles throughout the American market. The anticipated first supply of trucks compliant with American standards is expected in CY2025.
This MOU presents a second channel to expand sales and distribution in the United States, following a sales agreement secured with California-based Nutcher in November 2023. California and US Government subsidies for the purchase of Zero Emission (‘ZE’) trucks underpin Pure Hydrogen’s confidence in expanding supply channels into America.
Pure Hydrogen will set up distribution and sell its Taurus Prime Mover, HFC Garbage Trucks, and Box Trucks to the American market through Riverview’s established operations in California. Founded in 1981 and family-owned, Riverview has extensive operations at two sites in California: Redding and West Sacramento. With a team of more than 90, they are an active supplier of ZE commercial vehicles to the American market. Riverview understands the ZE Heavy Duty Truck business in California, and H Drive truck offerings will assist them in the competitive ZE market in California.
Under the MOU, Pure Hydrogen expects to begin supplying its battery electric (‘BEV’) and hydrogen fuel cell electric (‘HFC’) commercial vehicles commencing in CY2025, subject to Riverview being satisfied with its due diligence on the vehicles, the equipment being compliant for operation in America, and definitive agreements between the parties being agreed upon prior.
Pure Hydrogen’s Managing Director Scott Brown said: “This MOU with Riverview presents us with another great entry point into the US ZE commercial vehicle market and it is another strong endorsement of the quality and range of our hydrogen-powered vehicles. Our objective is to move this from an MOU to a definitive supply agreement in the coming months and capitalize on the unique and large opportunity that the US market presents. We continue to receive strong interest there and we expect to secure similar agreements across this market. We are actively exploring SKD assembly and will advise the market in the coming months.”
Riverview International Trucks CEO Eric Bassett added: “Riverview sees the need to expand into the ZE truck market and this is a great opportunity to supply HDrive trucks into the US market given the range on offer – Class 8 Heavy, 6×4 rigids for Waste Collection, 8×4 Rigids for Concrete Agitators, 15T Box trucks as well as ZE buses. Pure Hydrogen’s HDrive product range is a great fit for our business and gives Riverview a leading edge in this very soon-to-be competitive market. Some governments have already introduced major incentives and guidelines to promote ZE vehicles, such as national programs that include subsidies or tax breaks for ZE trucks; discounts on road tolls; tightened fleet emission standards; and sales bans on internal-combustion-engine (ICE) vehicles. Working with HDrive International can help our business and our valued customers in achieving this.”
About Pure Hydrogen Corporation Limited
Pure Hydrogen is a clean energy-focused company seeking to become the leader in the development of Hydrogen and Energy Projects. It has plans to supply hydrogen fuel as a domestically sourced clean fuel in Australia and other countries. Coupled with its controlling shareholding of HDrive offering an expanding line of Hydrogen fuel cell and electric commercial vehicles to customers seeking to reduce their emissions, Pure Hydrogen has a number of solutions that can allow the transition to Zero Emissions (ZE) for commercial customers. Concurrently, the Company is developing natural gas projects directly in Australia and indirectly in Botswana through a strategic investment it holds in a Botswana-focused energy company listed on the Australian Securities Exchange. Strategically, Pure Hydrogen will also prioritize incubation for early-stage companies or projects within the clean energy sector, with the aim of realizing profits from those investments. For further details visit www.purehydrogen.com.au.
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