Green hydrogen was the biggest story in energy in 2021 in Australia. The year is littered with stories about new projects and government support for what could become Australia’s biggest export product in the future.
While the news from green hydrogen projects will continue to flow, the attention in 2022 will turn to the emergence of the hydrogen ecosystem set to boom thanks to the future supply of commercial green hydrogen.
Planes, trains, and automobiles, as part of the broader commercial transportation market, will be the target of hydrogen enterprise in 2022. Leading the charge will be H2X Global, a hydrogen fuel-cell electric vehicle (FCEV) manufacturer targeting small commercial vehicles and the 216.7 g/km of greenhouse gas emissions they produce.
Despite only being one month into the new year, H2X has already hit the ground running. Topping the list of achievements for 2022 are the first sales of their hydrogen fuel cell gen-sets. The two Victorian-based customers will have their gen-sets fully operational onsite by the end of January. Importantly, this critical milestone will provide the backbone of a promotional strategy centering on the practical reality of their hydrogen products in motion in real-life. H2X anticipates huge growth of this product SKU in 2022.
In Sarawak, the island state of Malaysia, final negotiations are taking place between H2X and the Sarawak Economic Development Corporation (SEDC) for the establishment of H2X manufacturing operations and the development of hydrogen FCEV buses for the island. In anticipation of the booming hydrogen ecosystem in Sarawak, the final touches are being made on the first of six new fuel stations of the future - a fuel station with petrol bowsers, hydrogen pumps, and electric fast-chargers. This vital piece of infrastructure is critical to the widespread adoption of hydrogen vehicles in Sarawak while providing a shining beacon to neighbours in South-East Asia as to the benefits of hydrogen-based solutions to reducing emissions.
Finally, H2X’s first hydrogen ute, Warrego, is currently under construction in Europe with the first running vehicle not far away from its official launch. This timeline puts H2X well on-track for first deliveries in April 2022. The Company has also signed an MOU with the local government in Gippsland, Victoria to bring FCEV manufacturing to the burgeoning hydrogen hub. H2X management expects the facility to be up and running by the end of January with initial plans to assemble Warrego utes before progressing to next-generation H2X FCEVs.
H2X Global is a first-mover in embracing the hydrogen future that presents the world and is set to reap the rewards as the hydrogen ecosystem continues to prosper in 2022. Fresh off a heavily oversubscribed pre-IPO offer in late 2021, the stars are aligning for a hugely successful year for the company and is set to be capped off with an international IPO on a global stock exchange.
Keep an eye out for future investment opportunities in H2X throughout 2022.
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