Is Aussie hydrogen vehicle maker H2X Global listed on the ASX?

Australia’s own ‘green’ vehicle maker, coming to an exchange in 2022…

Hydrogen powered bus.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

There’s a little Aussie hydrogen company, known as H2X Global, which is making a splash in the alternatively powered automotive industry. Given the staggering US$100 billion Nasdaq debut of electric vehicle maker Rivian Automotive Inc (NASDAQ: RIVN) last week, it might not be surprising if it’s not the ASX that H2X Global is eyeing off. Instead, opting for a US-listing next year.

Many people probably have never heard of H2X. Yet, the company already boasts over 250 order-interests for its Warrego ute from across Australia, Netherlands, Germany, and Malaysia. The vehicle is planned to be built in Gippsland, Victoria, and will feature hydrogen fuel cell hybrid technology.

Let’s take a closer look at what the company has to offer.

What is H2X Global?

As previously mentioned, H2X Global is not on the ASX. But it could be on exchange soon as it delivers on its goals.

The company is focused on the production of hydrogen-powered vehicles. In the process, it aims to be the country’s first hydrogen fuel cell electric vehicle manufacturing company.

According to its website, H2X has developed its own proprietary fuel cell and powertrain system. This system is at the crux of the company’s various light equipment vehicles. These are expected to include a van, minibus, SUV, and a ute — with the Warrego ute being its first attempt at production. The technology itself is designed to drastically reduce refuelling time and increase driving range.

Furthermore, the management team features a number of highly experienced personnel. For instance, CEO Brendan Norman holds 20 years of experience, working with automotive giants such as BMW Group (ETR: BMW) and Audi Group — owned by Volkswagen Group (ETR: VOW3).

Could it ditch the ASX for the big smoke?

In recent weeks, H2X seems to have made substantial inroads on its plan to produce more hydrogen vehicles. On 5 November, it was revealed that the company had signed a deal with Malaysia government-owned Sarawak Economic Development Corporation (SEDC).

As part of this deal, H2X is expected to supply and assemble a range of vehicles, including in excess of 50 buses over the next 18 months.

Originally, an ASX listing of H2X Global had been announced in July. Since then, the company has stated it’s planning for a ‘major exchange listing’ next year. While some publications have inferred H2X will list on the Nasdaq, that has not yet been publicly confirmed by the company.

Finally, let’s take a look at a quick comparison between H2X and Rivian. As per the Aussie company’s last update, the Warrego ute has 250 orders. Meanwhile, Rivian’s R1T and R1S models have more than 48,000 preorders.

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BMW. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ESG

Group of children dressed in green hold up a globe relating to climate change.
Energy Shares

‘Massive untapped demand’: The $3 trillion opportunity ASX 200 energy shares could be missing

Deakin estimates that Islamic finance is almost a $3 trillion global industry.

Read more »

A wide-smiling businessman in suit and tie rips open his shirt to reveal a green t-shirt underneath
Cryptocurrencies

5 cryptos boosting their green credentials in 2022

A number of pioneering tokens are working to minimise their emissions.

Read more »

Happy woman miner with her thumb up signalling Wyloo's commitment to back IGO's takeover of Western Areas nickel
ESG

Own BHP shares? Here’s how the ASX 200 miner plans to slash emissions

Miners have come under pressure around the globe to mitigate the environmental impacts of their operations.

Read more »

Woman looks amazed and shocked as she looks at her laptop.
ESG

Own BHP shares? ‘Almost unbelievable’ breakthrough could be key to miner’s climate strategy

The Federal Government is considering whether carbon stored in tailings dams will count towards carbon credits and offset schemes.

Read more »

A cute young girl wears a straw hat and has a backpack strapped on her back as she holds a globe in her hand with a cheeky smile on her face.
Travel Shares

Qantas share price lifts amid new sustainability partnership

Airlines are turning to sustainable aviation fuel to reduce their carbon emissions.

Read more »

Close-up photo of man's hands holding silver platter with coins and young plant growing out of pile of money
ETFs

One ASX share price opportunity I couldn’t pass up if I started investing today

I know a type of ASX share I’d want to invest in as a beginner.

Read more »

A Santos oil and gas company employee stands in a field looking at an ipad with an oil rig in the background and grey skies above representing carbon in the atmosphere
ESG

Why we’re still buying ASX 200 shares that are ‘high emitters’: fundie

ESG investors have focused on future facing industries, like renewables, ignoring the large potential improvements that can be made by…

Read more »

Woman standing in front of a wind farm.
Energy Shares

How have ASX renewable energy shares been performing in May?

No sprouts of green this month for the sector.

Read more »