PERTH (miningweekly.com) – ASX-listed Pure Hydrogen has completed the purchase of a 24% interest in hydrogen fuel cell vehicle company H2X Global.
The company in October flagged the transaction under which it issued some 8.6-million of its own shares, which will have some escrow conditions.
Pure Hydrogen also has the option to increase its interest in H2X to 48%.
Meanwhile, Pure Hydrogen on Friday reported that H2X had inked a memorandum of understanding with the Economic Development Corporation, which is an arm of the state government of Sarawak, in Malaysia, for the manufacturing, assembly and development of a range of strategic transport projects.
Sarawak first introduced hydrogen-powered vehicles in 2019 and the new agreement will see H2X supply and assemble further vehicles, including buses, to meet growing demand.