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Pure One Corporation Limited (ASX:P1E)

ALERT: Price-sensitive ASX Announcement for P1E
Current share price for P1E : $0.045 0.014 (45.16%)+
Announcement
Release
31 Jul 2026 9:51AM
Price at Release
$0.031
Full Release
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Summary
During the June 2026 quarter, Pure One Corporation Limited made significant strides in its zero-emission commercial vehicle strategy, including completing a major transaction with Turquoise Group, advancing vehicle launches, and bolstering its financial and leadership positions. The company is preparing for the commercial launch of its Alpha Series battery-swap Prime Mover and Zeus electric van in September 2026, while maintaining a strong financial position with cash reserves and credit facilities. New leadership appointments and effective cost management highlight the company's commitment to growth and operational efficiency.
Key Points
  • Pure One Corporation Limited aims to lead in zero-emission commercial vehicles.
  • The company completed the first tranche sale of its 40% interest in Turquoise Group, raising A$3.5 million.
  • Alpha Series battery-swap Prime Mover and Zeus electric van are set for a commercial launch in September 2026.
  • The company has strengthened its financial position with a cash balance of $7.3 million and undrawn credit facilities of $7.3 million.
  • New appointments include Mr. Edward Kocwa as a Non-Executive Director and Mr. Jeff Le Compte as Chief Financial Officer.
  • The company's hydrogen fuel cell and battery-electric vehicle programs are advancing with deliveries planned.
  • Cost management reduced sales and marketing expenses to $117,000, down from $220,000 in the previous quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.