Pure Hydrogen (ASX:PH2) signed a strategic distribution agreement with Argentina-based FRN Enterprise for the sale and distribution of the firm's transportation and energy solutions in South America for an initial period of 48 months, according to a Thursday Australian Securities Exchange filing.
Continuity of the agreement will be subject to FRN achieving a minimum of $20 million in total sales revenue within 48 months from the sale of equipment supplied by Pure, the filing said.
The agreement will automatically renew for successive periods of equal duration, unless either party chooses not to renew by providing written notice at least six months in advance.
It sets out the framework for FRN to manage the distribution and sale of Pure's suite of heavy-duty hydrogen fuel cell electric vehicles and battery electric vehicles in the South American market, along with the delivery of containerized electrolysers and associated hydrogen infrastructure.
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