Pure Hydrogen Sells 30% Stake in Botswana Serowe CBM Project

Australian clean energy firm Pure Hydrogen Corporation Limited (ASX: PH2) has agreed to sell its 30% interest in the Serowe CBM project in Botswana to project operator Botala Energy Ltd (ASX: BTE). In exchange, Pure Hydrogen will receive 14.5 million fully paid ordinary shares from Botala Energy over two tranches, along with a $750,000 milestone payment if gas reserves exceed 50Pj of 2P.

This transaction simplifies Pure Hydrogen's activities, allowing it to focus on expanding its hydrogen and H-drive operations, including a renewed 50:50 Joint Venture with Botala called Botswana H2. The joint venture aims to develop hydrogen production and refueling hubs, tapping into Botswana's commitment to clean energy projects. Pure Hydrogen's Managing Director, Scott Brown, emphasized the strategic move, while Botala Energy's CEO, Kris Martinick, highlighted the opportunity for further development of the Serowe project.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com