ASX companies hope to make a splash in a hydrogen-powered future. Pic: Getty Images
- Pure Hydrogen delivered a second straight quarter of positive cash flow for the June quarter
- HyTerra transitioned from exploration planning to execution at its flagship Nemaha asset
- BPH Energy focused on building production facilities in the US and India to produce turquoise hydrogen and a carbon composite
While a global hydrogen economy has yet to materialise, there is still enough potential in the sector to fill the dreams and hopes of ASX companies.
Despite the challenges, companies in the space have kept moving with the launch of zero emissions vehicles, locking in international hydrogen equipment supply agreements, carrying out exploration programs in search of naturally occurring hydrogen, and much more.
Here’s our latest wrap of the key milestones achieved by ASX-listed hydrogen companies this quarter.
Pure Hydrogen has experienced its second consecutive quarter of positive cash flow, with net flows topping $409,000 for the June quarter as it continued to advance its commercialisation strategy for its clean energy fleet.
This was marked by new distribution agreements in the Americas for both vehicles and hydrogen infrastructure, alongside the sale and delivery of vehicles in domestic and international markets.
Key milestones included the expansion of a global distribution agreement with GreenH2 LATAM, advising PH2 is the preferred supplier of hydrogen equipment for two infrastructure projects in Mexico, and the granting of a 15-year Potential Commercial Area (PCA) over the Windorah gas project in the Cooper Basin – extending the PCA until June 2040.
Post quarter end, the clean-tech company expanded its vehicles sales pipeline, marked its first sale of an Australian-assembled zero emission HFC garbage truck into the US market, and continued progressing its distribution agreement with FRN Enterprises SAS.
At the end the end of June, Pure Hydrogen held cash of $2.7m and remains well capitalised to support long-term growth and diversification.
Also read: Pure Hydrogen signals a name change with rebrand to Pure One
HyTerra, the first stock to list on the ASX with a focus on naturally occurring hydrogen, reached a turning point during the quarter when it transitioned from exploration planning to execution at its flagship Nemaha asset in Kansas, US.
The company said this was a period defined by simultaneous operations which is testimony to the experience levels within the HyTerra team.
HyTerra executed two back-to-back wells and two geophysical surveys on time and on budget and decided to add a third well – McCoy 1 – to the drilling sequence.
Hydrogen concentrations of up to 96% hydrogen and 5% helium were recorded in mud gas during drilling at Sue Duroche 3, while hydrogen concentrations of up to 16% hydrogen and 4% helium were recorded in mud gas during drilling Blythe 13-20.
The company says results from these programs will underpin prospect generation for its next phase of exploration.
BPH Energy has a 16.2% direct interest in Clean Hydrogen Technologies (CHT), which has developed its capabilities to a stage where it has proven consistently in its pilot plant it can produce two products – turquoise hydrogen and a carbon composite made from majority CNT (carbon nanotubes) and CNF (carbon nano-fibres).
The next stage is to build production facilities in the US and India, both being highly industrial markets with demand for CHT’s products.
CHT is now looking to source the funding required to build its plant in the US and India, where within three to four months of minimal funding (US$2.5m) it will start producing income, initially in India and then the US, its primary market.
At Stockhead, we tell it like it is. While Pure Hydrogen, HyTerra and BPH Energy are Stockhead advertisers, they did not sponsor this article.
