Sprintex (ASX:SIX) has strengthened its international footprint by entering into an exclusive distribution agreement with ChoisTechnics for the supply of its proprietary fuel cell compressors within the Republic of Korea.
The strategic partnership targets one of the world's most advanced hydrogen economies, focusing on high-value verticals including mobility—specifically marine and aviation—and stationary power markets.
The agreement is structured with performance-based exclusivity, underpinned by escalating minimum purchase commitments.
Chois has committed to orders of US$100,000 in the first year, increasing to US$200,000 in Year 2 and reaching US$350,000 by the third year.
While Chois takes the lead on new distribution, Sprintex will maintain direct supply relationships with its existing South Korean clientele, including Vinssen and Global Nova.
Furthering its momentum, Sprintex confirmed an initial project is already underway with Doosan Corporation, involving the testing of two sample compressors for stationary backup power applications.
Managing Director and CEO Jay Upton noted that the collaboration with Chois provides a "technically capable and well-connected" partner, essential for navigating the complex South Korean market while maintaining rigorous engineering standards.
The expansion follows a joint appearance at the China International Hydrogen Congress & Expo earlier this month, where multiple new opportunities were identified.
The deal marks a pivotal milestone in Sprintex's overarching mission to build a dominant global hydrogen compressor business, leveraging established local expertise to accelerate commercialisation.
At the time of reporting, Sprintex's share price was $0.067.