United H2 Limited Group Update April 2024 

United H2 Limited (“UHL” or “the Company”), has taken strong strides forward in its dual strategy to deliver liquidity via a planned listing, while also focusing on enhancing shareholder value by growing its Group of 30-plus hydrogen projects & companies.
The dual strategy’s short-term focus is initially shareholder liquidity, then its medium focus is to build the overall Group to ensure UHL experiences sustainable growth in the long term.
Regarding the proposed listing, the new members of the Executive Team and Board of Directors have taken strong steps forward and are in advanced discussions with institutional investors/capital firms to support this pathway to liquidity.
The companies in the UHL Group have also delivered strong operational milestones, including:

  • H2i Technology has had its injection system independently tested & secured first revenues.
  • Aviation H2 completed modifications to its test turbine.
  • Voyager H2 delivered a prototype of hydrogen exploration technology.
  • H2X Global commenced the production of a utility truck for its Swedish order.
  • National H2 secured the rights for plastic-to-hydrogen technology.
  • Pure Biochar is in the process of securing sites for a planned network of production facilities.
  • Alpha H2 is progressing to trials with its first customers.
See below for a detailed update.

H2i Technology has its injection system independently tested & secures first revenues

After manufacturing its first commercially-ready hydrogen injection kits locally, in Victoria, H2i Technology has had its system independently tested on a 220kw Generator diesel generator.
The hydrogen enhancement system H2i Technology has developed has the hardware and proprietary software to manage the injection of hydrogen into a diesel engine to significantly reduce emissions and cut fuel costs.
Independent tests showed its technology can:
  • Reduce fuel usage by 20%+
  • CO2 emissions by 19%
  • NOx by 30%+ 
  • Smoke opacity by 40%+
H2i Technology has also secured its first revenues and is moving forward to install five units for a customer in Asia later this quarter.
The Company is now moving forward with commercialising its operations, with further installations planned for the Middle East, Europe, Asia, and Australia.
H2i Technology will support its growth through the strong supply chain and manufacturing capabilities it has built locally in Australia, with the capability to produce 1,000 units a month.

Aviation H2 completed modifications to its test turbine

Modified turbine on the right
Aviation H2 has completed the modification of a test jet turbine to run with a carbon-free fuel, liquid ammonia, which serves as a proof of concept for the conversion model it developed in its feasibility studies conducted throughout 2022 and 2023.
The Company has proven the modified engine is operational and is preparing to test it on liquid ammonia at the Bankstown Airport in Sydney, making it one of the first engines of this type in the world.
Following this, the Company will optimise the engine’s performance and then begin the process of converting a jet plane for a test flight. 

Voyager H2 delivers a prototype of hydrogen exploration technology

Voyager H2 has delivered a prototype of its system for detecting natural hydrogen and helium deposits.
The Company currently has patent applications in process for its industry-leading IP and is focused on building a network of these ground sensors so it can begin securing tenements in Poland, the United States and Australia.
In Poland alone, there is an estimated one billion tonnes of hydrogen sitting in underground deposits
The overall business model will seek to build up valuable, revenue-generating assets while underpinning its cash flow by renting its technology.
Voyager H2 will use its industry-leading technology to partner with resource companies to commercialise the land and enter into a shared profit scheme for hydrogen/helium production.
The goal of Voyager H2 is to build up a book of revenue-generating production wells and secure large trade sales from equity in the tenements. 

H2X Global commences the production of a utility truck for its Swedish order

The H2X Engineering Team hosted the Toyota fuel cell team at the Netherlands facility
H2X Global has commenced the production of a utility truck in its Netherlands facility, which marks the beginning of its delivery on a ~A$48.5m order to Renova AB in Sweden.
H2X is now focusing on a retrofit strategy, which allows it to partner with legacy automakers to marry their expertise in building vehicles with H2X’s industry-leading hydrogen powertrain IP to create an emission-free vehicle.
Importantly, this capex-light approach expedites the delivery of vehicles to market.
Furthermore, H2X’s hydrogen powertrain IP is competitive with battery-electric and fossil fuel vehicles, which presents an economically viable avenue to decarbonising the transport sector.
In anticipation of the European homologation of its utility truck, H2X is in the process of reconfiguring its website to enable the acceptance of vehicle deposits, enhancing accessibility for further orders.
H2X’s Dutch engineering site recently hosted a global Toyota fuel cell team. Its partnership with Toyota Motor Corporation remains pivotal as it collaborates on the powertrain design of hydrogen fuel cell electric vehicles and allows H2X access to the best fuel cell in the world, without the development cost.
During the meeting, H2X unveiled its new product portfolio plans, including the Warrego (utility truck), Paroo (light truck), and Yarra (heavy truck) models, outlining its long-term volume projections.
Additionally, H2X showcased its proprietary technology that scales across our models, significantly its unique hydrogen tanks.

National H2 secures rights for plastic-to-hydrogen technology

Render of a Powerhouse plastic-to-hydrogen plant
National H2 has secured a Framework Agreement with Powerhouse Energy Group (AIM:PHE) to use its patent-pending plastic-to-hydrogen technology.
The agreement sets out the terms on which Powerhouse’s technology and engineering expertise would be provided, on a project-by-project exclusivity basis, to National H2 for its intended rollout of multiple hydrogen-based projects across Australia, Italy, Switzerland, and Hong Kong.

Pure Biochar is in the process of securing sites for a planned network of production facilities

An image of the pyrolysis technology Pure Biochar will use
Pure Biochar is currently focused on securing six sites across Australia to build a network of biochar production facilities.
Pure Biochar has conducted testing of the biomass for its first site in the Hunter Valley, NSW, and is aiming to move towards constructing the plant later this year.
The Company’s strategy involves building the biochar production facilities on the same site as the biomass supply.
Pure Biochar will leverage its early-mover advantage to establish a strong market share in the biochar sector forecasted to reach US$6.3bn by 2031, while also focusing on getting access to the US$851bn carbon credit market. 

Alpha H2 is progressing to trials with its first customers

An Alpha H2 Truck Kit
Since launching in early October 2023, Alpha H2 has received $15m in order interest from haulage fleets, buses, miners, and coordination operators across Australia, the Middle East, America, and Europe, for its emissions and fuel cost reduction technology.
The Company is currently progressing towards its first trials with truck companies in Australia. 
Alpha H2’s industry-leading hydrogen injection kits are attached to diesel and petrol internal combustion engines to reduce fuel usage by up to 20%.
The kits use electrolysers to produce the hydrogen onboard and inject it into the engine to replace fuel usage and reduce carbon emissions.
Given the significant fuel savings, the units will help ease the operating expenditure challenges businesses are facing and generate a quick return on investment for customers.

Outlook moving forward

Throughout the period, UHL has taken significant strides in delivering on the dual strategy it has outlined since its inception — executing a public listing and nurturing enterprise value through Group growth.
The material progression the companies have made in the UHL Group has played a key role in advancing shareholder value.
UHL believes this strategy is the strongest avenue to unlocking liquidity for shareholders, as a listing will provide it with the capital required to accelerate its 30-plus projects and companies.
It is confident the additional members of the Executive Team and Board will provide the network and level of experience needed to expedite and enhance the delivery of its dual strategy to deliver short-term liquidity and long-term valuation growth.

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