The company’s shares are on the move…
The post Why the Pure Hydrogen (ASX:PH2) share price is powering 22% ahead today? appeared first on The Motley Fool Australia. –
The Pure Hydrogen Corporation Ltd (ASX: PH2) share price is leaping to incredible highs on Tuesday. This comes after the company announced a positive update that is likely to create a new revenue stream.
At the time of writing, the energy company’s shares are fetching for 51 cents apiece, up 22.89%.
Pure Hydrogen launches portable electricity units
Investors are driving up Pure Hydrogen shares today following the company’s latest announcement.
In today’s statement, Pure Hydrogen advised that it has released a range of hydrogen fuel cell power generation units to the market. The products were made in conjunction with H2X Global Limited, which Pure Hydrogen currently has a 24% interest in.
Named Power H2, the units can generate clean electricity without any emissions using hydrogen as a fuel. Power H2 comprises a hydrogen fuel cell and a small hydrogen storage tank for fuel storage. They come in four sizes, ranging from 5 kilowatt (kw), 20kw, 50kw and a 100kw capacity.
The units can be used to supply electricity for an infinite number of purposes. This includes powering mobile communication towers, businesses, hospitals, households, farms and mine sites.
While the retail price was not disclosed, Power H2 units will be available for sale within the first quarter of 2022.
In addition, the company is currently working with industrial users to supply back-to-base fuelling solutions, off-take agreements and vehicle supply.
Pure Hydrogen managing director, Scott Brown commented:
The Power H2 units have at their heart hydrogen fuel cells and powertrain that have been developed over several years. Customers are now been engaged.
The Power H2 units demonstrate H2X’s ability to bring hydrogen-powered products to market successfully given their strong technology skills and established manufacturing and logistics supply chain which helps to bring product to market efficiently. Their technology is at the forefront of the hydrogen revolution and it is great to see it being implemented commercially.
Pure Hydrogen share price snapshot
Over the past 12 months, Pure Hydrogen shares have accelerated by more than 500% for investors. When looking at year-to-date, its share price performance is just as impressive, up 480% for the period.
Pure Hydrogen commands a market capitalisation of roughly $172.60 million, with approximately 338.44 million shares outstanding.
The post Why the Pure Hydrogen (ASX:PH2) share price is powering 22% ahead today? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Pure Hydrogen right now?
Before you consider Pure Hydrogen, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pure Hydrogen wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Motley Fool contributor Aaron Teboneras 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.