During the half year, Pure One Corporation (
#ASX:
#P1E) continued executing its strategic repositioning following its rebrand to Pure One Corporation Limited. The Group's focus is on the development and commercialisation of zero-emission transport solutions.
Key developments during the period and up to the date of this report included:
✅ Eastern Gas IPO milestone - Eastern Gas Corporation Limited ("Eastern Gas"), Pure One's Queensland-focused natural gas subsidiary, lodged a Replacement Prospectus, completed capital raising initiatives, and the shares commenced trading on the ASX on 26 February 2026 under ticker EGA. Pure One retains a majority shareholding, preserving strategic exposure while enabling Eastern Gas to operate as a separately listed entity.
✅ Strategic divestment - Sale of the Company's 40% interest in Turquoise Group Pty Ltd for A$5.0 million, enabling focus on core zero-emission mobility and energy projects.
✅ Commercial agreements and purchase orders - Pure One secured supply arrangements for hydrogen fuel cell and battery electric commercial vehicles with key customers including Heidelberg Materials, Solo, and Scott Lovatt Transport.
✅ Battery electric vehicle expansion - Continued development and rollout planning of mid-sized and heavy battery electric truck platforms, supporting scalable BEV solutions for commercial fleet operators.
✅ Battery swap infrastructure development - Advanced battery swap strategy to accelerate fleet electrification, reduce operational downtime, and provide flexible, cost-efficient solutions for high-utilisation commercial vehicles.
✅ Corporate rebrand completion - Official transition to Pure One Corporation Limited in December 2025, reflecting the Company's multi-technology zero-emission strategy and positioning for domestic and international growth.
✅ International commercial expansion - Execution of distribution agreements and partnerships in South America (FRN Enterprise), the United States (Riverview International Trucks and GTS Group), and dealer networks in Australia (HDEA), strengthening the Company's global footprint.
✅ Ongoing R&D initiatives - During the six months ended 31 December the Company received R&D Tax Incentive refunds totaling approximately $1.1 million, supporting innovation across vehicle and clean energy technologies.
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ALT Pure One Corporation Half-Year Financial Report