Australia's Pure Hydrogen surges on electric vehicles JV with Indian firm

Pure One

20/05/2022 05:22

** Shares of the energy explorer  PH2.AX  jump as much as
5.6% to A$0.375, logging their first weekly gain in six 
    ** Pure Hydrogen signs joint venture deal with Indian
automotive components manufacturer Advik Hi-Tech to set up JV co
in India   urn:newsml:reuters.com:*:nASX3PbF5J
    ** Says JV to target hydrogen production, supply, and
transportation as well as supply of hydrogen fuel cell electric
vehicles to businesses in India 
    ** Adds PH2 will own 49% stake and Advik 51% in the new JV
co 
    ** Stock up 11.9% in value this week 
    ** PH2 down 34.6% this year, as of last close, vs a 4.1%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))