Australian clean energy company Pure Hydrogen Corporation (ASX:PH2) has signed a Memorandum of Understanding (MOU) with the Vietnam ASEAN Hydrogen Club (VAHC).
VAHC is a domestic policy group dedicated to the advancement of hydrogen solutions as part of the Vietnam government’s stated carbon reduction strategy.
The MOU sets out the framework for Pure Hydrogen to supply up to five buses from its leading fleet of hydrogen-powered passenger transport vehicles, along with associated hydrogen infrastructure. The MOU stipulates that the vehicles will be used as part of a demonstration of hydrogen vehicles in Ho Chi Minh City, which will be funded by the VAHC in conjunction with the Vietnam Tourism Partners and Industrial Partners.
In accordance with the MOU, the VAHC has expressed interest in up to three hydrogen fuel cell (HFC) minibuses, and two HFC Coaches, to be supplied by Pure Hydrogen and manufactured by Pure Hydrogen subsidiary Hdrive International.
The MOU also sets out a framework for the supply by Pure Hydrogen of a 1MW alkaline electrolyser for hydrogen production along with hydrogen refuelling equipment. If fully executed, the proposed supply order set out in the MOU is expected to generate revenues for Pure Hydrogen of approximately $8.8 million.
The demonstration proposed by the VAHC and the Vietnam Tourism Partners will include the deployment of the HFC minibuses to run sightseeing tours, as well as hydrogen production and refuelling to highlight the end- to-end use case for hydrogen vehicles as part of Vietnam’s passenger transport infrastructure.
The public transport bus system in Ho Chi Minh City comprises 152 different bus routes and covers most of the major tourism destinations within and nearby the city. As part of the Vietnam government’s stated strategy to achieve net-zero emissions by 2050, policymakers are targeting a significant reduction in diesel bus fleets for most major Vietnamese cities.
By 2030, it’s expected that between 70-90% of diesel buses will be replaced with clean energy alternatives. Through its MOU with Pure Hydrogen, the VAHC aims to highlight how hydrogen vehicles can play a key role in Vietnam’s transition to clean energy solutions for passenger transport services.
The MOU with VAHC follows a separate MOU in March 2024 with the State Government of Piauí in Brazil, setting out a framework of cooperation to foster the development of Piaui’s green hydrogen economy.
More recently, the company signed an MOU with US group Riverview International Trucks to establish a distribution framework for Pure to sell its Taurus Prime Mover, HFC Garbage Trucks and Box Trucks to the American market through Riverview’s established operations in California.
