Pure Hydrogen to Distribute Hydrogen Vehicles in LATAM
- Business Companies Transportation World
Global Business Magazine- 5 minutes read
Australian clean energy company Pure Hydrogen on Friday said that it has executed an agreement with GreenH2 LATAM for the distribution of hydrogen trucks, battery electric and hydrogen buses, hydrogen equipment (including production & refuelling infrastructure) and hydrogen generators in Mexico, Latin America, and Africa.
The agreement will be for a term of 36 months from the anticipated supply commencement date, unless otherwise agreed between both parties. Based in Mexico City, GreenH2 LATAM is dedicated to transforming the energy sector in Latin America through sustainable and high-performance green hydrogen solutions.
According to the terms of the agreement, Pure Hydrogen should demonstrate that it has arrangements in place to ensure that the battery electric and hydrogen fuel cell electric vehicles will satisfy all applicable laws, and; GreenH2 having ordered at least 20 zero emission vehicles within 12 months from the date of the term sheet being signed.
This agreement is in line with Pure Hydrogen’s strategy to grow its existing dealership network in North America and follows recent agreements with ETHERO Truck + Energy on 3 October 2024 and Riverview International Trucks on 5 July 2024.
LATAM Renewables Market Overview
Studies show Latin America plays a significant role in global renewable energy production, leveraging its abundant natural resources to generate substantial clean energy and has seen substantial investments in renewable energy over the past decade.
According to Statista, the region attracted approximately $19.6 billion in renewable energy investments, led by Brazil at $13.3 billion, followed by Mexico at $3.4 billion, and Chile at $1.3 billion among others in 2021.
Additionally, as of early 2024, Latin America saw significant interest in green hydrogen projects, with announced investments totalling approximately $40 billion, the Americas Market Intelligence said.
In 2022, approximately 65% of the region’s electricity was sourced from renewables, notably higher than the global average and the region has also experienced rapid growth in solar and wind energy. The installed solar photovoltaic capacity in Latin America and the Caribbean surpassed 45 GWs in 2022, reflecting a significant increase over the past decade.
Overall, the renewable energy capacity in the region neared 315 GWs in 2022, marking a growth of approximately 75% compared to a decade earlier. Latin America’s strong renewable’s infrastructure provides a strong opportunity to integrate zero emissions vehicles, generators and equipment into the market.
Creating Future Opportunities
Pure Hydrogen’s Managing Director Scott Brown said that the agreement with GreenH2 LATAM, deepened their collaboration with Latin America to create future opportunities within the zero-emission commercial vehicle market.
This is Pure Hydrogen’s fourth agreement in the North American region, demonstrating the quality of its diversified vehicle range and associated equipment and infrastructure. As the company continues to receive significant interest across this market, it expects to secure similar agreements with strategic distribution partners in the near future, he said.
“Pure Hydrogen is ideally positioned to unlock strong growth opportunities as leading solution provider supporting commercial customers with their zero-emission transition. We’re confident with our progress so far and look forward to turning the strong interest into binding sales,” he added.
GreenH2 LATAM’s Chief Executive, Héctor Sánchez Baena, said that partnering with Pure Hydrogen marks a significant milestone for GreenH2 LATAM as they continue to lead the green hydrogen transition in Latin America.
“This agreement not only strengthens our capabilities in delivering zero-emission solutions across the region but also aligns with our commitment to providing sustainable, high-performance energy options that can transform industries and communities alike. We are excited to bring this vision to life alongside Pure Hydrogen and further our shared mission of advancing clean energy for a resilient future,” he added.
