Pure Hydrogen Partners with Vietnam ASEAN Hydrogen Club for Hydrogen Bus Demonstration

Overview of the MOU

Pure Hydrogen Corporation Limited has entered into a Memorandum of Understanding (MOU) with the Vietnam ASEAN Hydrogen Club (VAHC), a policy group focused on advancing Vietnam's hydrogen industry. This MOU outlines the framework for supplying up to five hydrogen-powered buses from Pure Hydrogen's fleet.

The buses will be used in a demonstration project in Ho Chi Minh City, showcasing the viability of hydrogen vehicles as part of Vietnam's public transport system. The project is funded by VAHC in collaboration with Vietnam Tourism Partners and Industrial Partners.

Details of the Supply Agreement

Under the terms of the MOU, Pure Hydrogen will supply three hydrogen fuel cell (HFC) minibuses and two HFC coaches, manufactured by its subsidiary Hdrive International. The agreement also includes the provision of a 1MW alkaline electrolyser for hydrogen production and refuelling equipment.

The proposed supply order is expected to generate approximately $8.8 million in revenue for Pure Hydrogen. VAHC will pay a 50% deposit upfront, with the balance due upon delivery. The agreement is subject to customary conditions, including VAHC's satisfaction with the vehicles and the execution of definitive transaction agreements.

Impact on Vietnam's Public Transport

The demonstration project aims to replace a significant portion of Ho Chi Minh City's diesel bus fleet with clean energy alternatives by 2030. The city's public transport system currently includes 152 bus routes covering major tourism destinations. The hydrogen buses will be used for sightseeing tours, highlighting the end-to-end use case for hydrogen vehicles.

Vietnam has set a target to achieve net-zero emissions by 2050, and the VAHC sees hydrogen vehicles as a key component of this strategy. By 2030, it is expected that 70-90% of diesel buses in major Vietnamese cities will be replaced with clean energy alternatives.

Global Expansion and Future Prospects

This MOU follows a series of recent agreements by Pure Hydrogen, including a partnership with the State Government of Piauí in Brazil and a distribution framework with Riverview International Trucks in the United States. These agreements highlight Pure Hydrogen's growing international footprint and its first-mover advantage in the hydrogen vehicle market.

Pure Hydrogen's Managing Director, Scott Brown, expressed optimism about the partnership with VAHC, stating that it aligns with Vietnam's commitment to reducing carbon emissions and adopting clean energy solutions. VAHC Executive Chairman, Le Ngoc Anh Minh, also emphasized the importance of this project in establishing a hydrogen society in Vietnam and ASEAN.