(18 October 2022, Brisbane) PepsiCo (NASDAQ: PEP) is set to integrate hydrogen-powered mobility into its Australian operations, working with Pure Hydrogen Corporation (“Pure Hydrogen”; ASX: PH2) to trial a hydrogen fuel cell heavy-duty truck jointly designed by Wisdom Motor (“Wisdom”) and Hdrive Pty Ltd (“Hdrive”), and manufactured by Wisdom.
In this trial, Pure Hydrogen provides hydrogen fuel and refueling infrastructure while Wisdom is responsible for manufacturing the vehicle. Once the vehicle is built, it will be tested at one of PepsiCo’s production sites in Brisbane.
The trial is expected to begin in the second quarter of 2023 with a duration of six months. PepsiCo will then evaluate the commercial use cases for hydrogen-powered vehicles with a plan to order more vehicles in 2023-2025.
PepsiCo's trial is the latest in a series of trials that Pure Hydrogen is running in the Australian market. It forms part of the company's broader strategy to demonstrate commercial use cases of affordable hydrogen and hydrogen fuel cell vehicles.
In March this year (2022), Pure Hydrogen announced that it will provide J.J. Richards & Sons, Australia’s largest privately owned waste management company, with a hydrogen-fueled garbage truck manufactured by Wisdom and hydrogen refueling services.
PepsiCo ANZ Sustainability Manager Brent Gapes said: “This trial demonstrates our commitment to net zero emissions across our value chain by 2040 - a goal that forms an integral component of PepsiCo Positive, a sustainability framework for how we operate within planetary boundaries and inspire positive change for the planet and people. As one of the largest food manufacturers in Australia, we recognize we have a role to play in reducing our impact on the environment and I look forward to working with Pure Hydrogen on how we can extend the trial further.”
Pure Hydrogen Managing Director Scott Brown added: “It is exciting to be partnering with a globally recognized and respected company such as PepsiCo to commence trials for a commercial vehicle powered by hydrogen fuel cells. This trial will further showcase the potential of Australia’s hydrogen energy markets - particularly for the commercial trucking industry which currently relies heavily on the use of diesel fuel.”
Su Liqian (first from right), General Manager of Wisdom Motor, and Scott Brown (second from left), Managing Director of Pure Hydrogen, along with Jason Pecotic (second from right), Managing Director of HDrive, had a close communication recently in Australia on the design, manufacture, and experimental test plan of the prototype vehicle. The three parties are very optimistic about the prospect of hydrogen-powered commercial trucks. As a new force in the manufacture of hydrogen-powered commercial vehicles, Wisdom and HDrive believes that it can help many companies like PepsiCo to achieve zero-emission and low-carbon transportation, and jointly contribute to the sustainable development of humankind.
The power of the vehicle adopts Ballard Power fuel cell stacks, and the body adopts the patented annular gantry beam with a full load-bearing structure + high-strength stainless steel and composite materials. The vehicle's strength is enhanced while its weight is 10% lower than similar products. In addition, the comprehensive energy consumption is reduced by 5% and the service life can reach more than 20 years. The bullet-streamlined design and the fluid sculpture design language break through the traditional truck shape and achieve the ultimate aerodynamics.
Being driver-centric and featuring the design concept of a "home", the cockpit is built to become the driver's intelligent mobile home. The exquisite wrap-around center console, large-screen intelligent multimedia display, full LCD instrument, multi-function steering wheel, and massage seat altogether create an ultimate people-oriented experience with driving control all in one hand.
In May this year, Wisdom Motor successfully closed Series A round fundraising led by Ballard Power and Templewater. It is now going full steam ahead with its hydrogen-fueled commercial vehicle business.
About PepsiCo
PepsiCo is one of the world’s most respected companies with products sold in more than 200 countries and territories and 22 brands that generate more than US$1 billion each in estimated annual retail sales. PepsiCo Australia and New Zealand employ more than 1,500 people across three business divisions; Smith's Snack Food Company, Bluebird Foods and PepsiCo Beverages Australia and New Zealand.
To learn more about PepsiCo, please visit www.pepsico.com.au
About Pure Hydrogen Corporation
Pure Hydrogen is an Australian based clean energy-focused company seeking to become the leader in the development of Hydrogen and Energy Projects through the use of cutting-edge technology processes. The Company is looking at producing Hydrogen at multiple plants across Australia and supply hydrogen fuel to both Australian customers and regional Asia Pacific markets.
To learn more about Pure Hydrogen, please visit www.purehydrogen.com.au
About Wisdom (Fujian) Motor Company Limited
Founded in China in 2019, Wisdom (Fujian) Motor Company Limited (“Wisdom”) is a technology company that designs and manufactures zero-emission commercial vehicles. With a vision of becoming a global role model for zero-emission smart commercial vehicles, Wisdom focuses on exporting high-end products across the world, having sold and delivered eight types of products in more than 230 vehicles to 13 regions in the three years since inception.
For more information, please visit www.wisdommotor.com
About Hdrive Pty Ltd
HDrive (a subsidiary of Australian specialist vehicle manufacturer BLK Auto) is a pioneer in the design, engineering and manufacture of HFCV trucks and buses. Hdrive was the first company in the world to deliver Hydrogen Fuel Cell Coaches for Fortescue Mines in Western Australia. With the new joint venture, HDrive trucks will initially be built at Wisdom (Fujian) Motor Company premises using the proven Ballard Fuel Cells.
For more information about Hdrive, please visit www.hdrive.com.au
About Ballard Power Systems Inc.
Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling the electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.
To learn more about Ballard, please visit www.ballard.com
About Templewater Group
Templewater Group (“Templewater”) is an alternative asset management firm headquartered in Hong Kong, founded by Cliff Zhang and the Investec Group in 2018 as a spin-off of Investec Group’s Principal Investments Division in Asia, continuing the heritage and investment track record of the Investec Group.
Templewater is a solution-based and trusted partner to institutions, entrepreneurs, and family offices, investing in proprietary deals alongside them. Templewater invests across the alternative asset classes in private equity, growth equity and real estate.
To learn more about Templewater, please visit www.templewater.com
