H2X Global Update

H2X Global has provided an update on the significant progress it has made through its refocused strategy of accelerating vehicles to market via the more cost-effective and faster retrofit approach. 
As a major shareholder, United H2 Limited is delighted to see the progress H2X has made, as it continues to position itself as a global leader in hydrogen transport.

H2X Highlights

  • Recent Capital Raise: The recent H2X offer was oversubscribed, which will provide the funding to complete the world’s first hydrogen-powered 4×4 build and obtain roadworthy accreditation for the European and UK markets.
  • Focused Operations: To enhance its operational efficiencies, H2X has decided to concentrate its immediate efforts on its Dutch facility, which continues to be a hub of activity.
  • Submitting Tenders: H2X is waiting on the results of several European State-Owned Enterprise tenders, with the first major tender outcomes expected at the end of May 2024. Success in any of these tenders would be a significant milestone for the H2X Global team, especially as it ramps up production activities to create economies of scale to maximise margins and profitability.
  • Planned Public Listing: H2X’s Board & Management have always seen public markets as the best pathway to maximising shareholder value and providing access to deep pools of capital. Becoming a listed company will not only provide additional capital but also affirm H2X’s robustness and long-term viability, demonstrating its capacity to handle rigorous disclosure and scrutiny.
  • Australian Budget: H2X is collaborating with RSM Australia to provide a detailed analysis of the 2024 Australian budget and its implications for the hydrogen industry.
  • The Australian Investment Summit: H2X Global will join a group of Australian companies at the Australian Investment Summit (AIS) in London during the second week of July 2024. By participating in the AIS, H2X will have a platform to engage with investors, stock exchanges, brokers, and other stakeholders, offering valuable insights. The timing of the AIS coincides with an important period for H2X, including a major tender with a UK State-Owned Enterprise, the completion of the Warrego build, and the commencement of road accreditation for Europe and the UK.
  • Partner Engagement: In April, H2X welcomed the Toyota Global Fuel Cell team on the Dutch site, with the Renova team scheduled to tour the facility in June to observe their vehicles in production.
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