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Small cap hydrogen ASX stocks see lift off
Pure Hydrogen (ASX:PH2) – With Hydrogen being pitched as the miracle fuel to solve all our climate change issues a flurry of small cap hydrogen stocks have emerged, ready to capitalise on the massive interest in the sector and its underlying technology.
Pure Hydrogen came together in early 2021 via a merger of Real Energy and Strata-X Energy. The merged entity’s primary focus is now to become a major player in Australia in the emerging field of hydrogen. The company has quickly developed a portfolio of unique offerings in hydrogen fuel cell vehicles, hydrogen supply, and a hydrogen delivery system.
Recently the company announced that H2X Global Limited (a company in which Pure Hydrogen has a 24 percent stake) signed a binding agreement with Advik Hi-Tech to establish a joint venture where the parties will manufacture, source and suply products and components for Hydrogen vehicles and powered products for India and other international markets.
This represents a massive opportunity for H2X and PH2 to enter the large India markert. The first products from the JV Company are expected to be delivered in India within the next few months with the power system in Pune India being the highlight. The JV company will begin production of H2X’s series of fuell cell powered generators and two of these units are ready for deployment in Australia. In addition, the company is cementing its position as a green-tech innovator by cementing further partnerships and building out hydrogen plants.
According to a recent announcement “India is destined to be a leader in the Hydrogen Industry with strong support from Government and Industry and as a company which has always been ahead oif the curve, we are aggressively pushing into the Hydrogen space as a core growth area for our company. Having H2X as a committed partner in the JV Company is a great first step and gives us immediate expertise in the hydrogen sector. We will seek to build the JV Company and broaden co-operation with both H2X and its major shareholder Pure Hydrogen.”
Pure Hydrogen is in an exciting space at an opportune time where it can help support the development of hydrogen in the Australian and Indian markets. The partnership between H2X and Advik will shoot Pure Hydrogen into India where it can reduce costs and expand its reach.
