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Aussies Manufacturing Cars Again!

Everlution Newsletter

For Friday 17 July 2020 provided by (#letsfindsolutions)

News for green investors and organisations, stock watch & grant opportunities

Aussies Manufacturing Cars Again!

A new company made up of experienced global car industry executives has been formed to produce hydrogen vehicles at facilities at Port Kembla in New South Wales. H2X Australia has developed several prototypes powered by a hybrid powertrain of hydrogen fuel cells and electric motors, including the Snowy SUV (pictured).

The Snowy, a medium-sized SUV with a 60kw fuel cell and an overall power output of 190kw, has been developed to the manufacturing level and could be seen on our roads in 2022/23, depending on the availability of hydrogen filling stations.

H2X CEO Brendan Norman said: ?Seeing car manufacturing move away from the country was somewhat heartbreaking but given Australia?s leadership in hydrogen we have the opportunity to bring it back. For me it is a dream come true.?

However rather than releasing the Snowy first, the first models to be built will be two heavy vehicles which will be built on a second, larger platform that can accommodate two fuel cell units to bring power output up to 300 to 550kw. Heavy vehicles run on set city and interstate routes for major transport companies and are hence less reliant on publicly available sources of hydrogen.

Norman, a former BMW and VW executive said: ?We have two distinct platforms in final stages of development and will be releasing details shortly. We will be showing running prototypes of the first model in November, beta versions will be available for trailing by customers in April and we want to be producing in volume in July next year.?

H2X is planning for production of an initial 3,700 vehicles in the first year rising to 25,000 a year by 2025. Norman and his partner Chris Reitz have recruited a strong team of launch executives with high level experience in global car companies ranging from BMW and Fiat to Nissan and Toyota. The company currently employs 70, with plans to employ another 100 before the end of 2020, and builds on an extensive network of local and international suppliers.

Norman would not reveal the two types of heavy vehicle in development, however interstate trucking and passenger buses are often mentioned as the most suitable for early adoption of hydrogen technology. He said the company has orders from initial launch customers in Australia who operate their own vehicle fleets and was talking to a number of potential customers in Asia and Europe.

H2X has raised enough capital to begin production but is still talking to potential investors and state governments in Perth and Sydney. Cornerstone investors are the?Elvin Group, a concrete and construction company in the Canberra region and Ken Mathews, who heads up a diverse renewable energy company. Norman said: ?We are secure in our first phase of business as a sustainable long-term business but looking for funding for expansion.?

The two vehicles will be manufactured with a mixture of local and imported components for an initial 30 to 50 per cent local content level. H2X plans to aggressively increase local content of the hydrogen fuel drive train including fuel cells, electric motors and batteries. The target is 75 per cent local content by 2024.

While heavy vehicles make sense as launch products it is the smaller vehicle platform that will form the basis of the Snowy SUV that will generate most interest. Such a vehicle would join Japanese and Korean hydrogen fuel-cell cars like the Toyota Mirai and Hyundai Nexo on the local market.

Norman did let slip that his team was also designing a ?Tractor? variant based on the smaller platform.

Grants/Subsidies/Funding ? Energy Efficient Communities Program

The Energy Efficient Communities Program ? Small Business Grants provides small businesses with grants of up to $20,000 to improve their energy efficiency. Grants may be used for equipment and component improvements, energy audits, feasibility studies and/or energy use and emission monitoring.

The objective of this grant opportunity is to support small businesses to save energy through:

  1. replace existing equipment with higher efficiency equipment

  2. install or replace a component/s to help an existing system run more efficiently

  3. carry out energy audits

  4. carry out monitoring of energy usage and emissions

There is an estimated $9.06 million available for this grant opportunity, with a maximum of three projects funded per electorate.?We expect that there will be a high level of interest for this grant opportunity and it will likely be oversubscribed. This means an eligible application will not automatically be approved. We will approve grants according to meeting eligibility criteria, submission time and date and distribution across?federal electoral divisions.

  1. The maximum grant amount is $20,000

  2. The maximum project period is 18 months

You can use your grant for one or more of the following:

  1. replacing existing equipment with higher efficiency equipment

  2. installing or replacing a component to help an existing system run more efficiently (for example installing a variable speed drive on a pump, or installing automatic controls on energy using equipment, or installing a modulating burner on a boiler)

  3. energy audits

  4. investment feasibility studies for energy efficiency upgrades

  5. monitoring of energy consumption and emissions

To be eligible you must:

  1. have an Australian business number (ABN).

  2. have an annual turnover of less than $10 million based on Business Activity Statements from the previous 12 months.

  3. be either a company incorporated in Australia, a co-operative, partnership or a sole trader.

CTI launches August specials month

As climate change events increase in number and ferocity, so does climate change risk for businesses and organisations.

To remove or control this risk, organisations need to be equipped with the right practical knowledge.

Carbon Training International (CTI) offers courses that give clear direction to understand how to deal with climate change risk.

CTI courses include Strategic Carbon Management, Carbon Accounting, Applied Energy Efficiency, Reducing Fleet Emissions and Carbon Offsetting.

For all courses commencing in August, CTI is offering a 15% discount.

You can easily enrol in one of CTI?s online webinar courses at Just choose your preferred course and course start date. Extra course dates can be arranged.

The good news: carbon emissions and business costs are linked. The more an organisation reduces its carbon emissions the more it reduces its costs.

Eco-tip for the day ? Eat local and organic

Whenever possible, try to eat local, in-season produce. Sticking to foods that are grown locally, in your own city or nearby area, helps to reduce the carbon footprint created by shipping foods from elsewhere. A general rule for where something is grown. The closer to you, the better. When a fruit or vegetable can be grown in your own backyard, or a local farm, the environmental cost is importantly reduced. Just imagine the journey that food from a remote country has to take ? by plane, ship, train, or truck, the produce must stay cooled, so it doesn?t spoil, and has usually been picked way too early (resulting in not-so-great quality, and fewer nutrients).

Small farms are more likely to adopt beneficial soil-care practices and maintain borders for local wildlife and eating locally-grown food supports your local economy and promotes food security. It?s equally important to eat organic produce which hasn?t been sprayed with toxic pesticides and other environmentally detrimental chemicals.

Don?t forget to avoid processed foods: processed and packaged foods are often bad for your health, not just the environment. Processing plants are major polluters, and their products contribute to health epidemics like obesity, diabetes, and heart disease. Choose whole foods that are better for the planet, and better for your own persistence. Its better if you can grow your own food yourself and the best for reducing your carbon footprint.



Share watch ? Ethical Share Fund (ASX:INES)

Listed on 12 June 2019, the Ethical Share Fund is an Active ETF designed for investors seeking a diversified selection of Australian companies that produce growing, sustainable profits at low risk of interruption from the increasing threats associated with Environmental, Social and Governance (ESG) factors. The Fund will invest in undervalued companies with strong long-term capital growth prospects based on the Intelligent Investor?s value investing research process. Making more than 500 Buy recommendations since 2001 with an average outperformance of 5.2%^ a year relative to the ASX 200.

The graph shows the Fund?s performance relative to the ASX200.

Financial indicators

The VIX fear gauge down by 4.84 points since last Tuesday EST to 27.25.

The Dow Jones Industrial Average up since last Tuesday EST by 647.91 points or 2.48% to 26,734.71, the STOXX 600 up 0.90 of a point or 0.24% to 371.45 and the Shanghai Composite index down 182.48 points or 5.37% to 3,214.13.

Gold up to 1,802.50. US 10-year Treasury Bonds on 0.611 and oil up to 40.54. Cryptos Bitcoin down 55.74 points since last Tuesday or 0.61% to 9,099.04.

ASX 200 up 94.00 points or 1.58% since last Tuesday to 6,033.60. The Aussie dollar on 69.89US cents.

Eco Market Spot Prices

ACCU $15.80

LGC $39.10

STC $38.60

ESC $25.40

VEEC $35.00

Sources:?RenewEconomy, demandmanager,? Reuters, SMH, Market Watch, Forbes

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