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Hyzon Motors, through its subsidiary Hyzon Motors Australia, is partnering with Superior Pak to produce up to 20 zero-emission refuse collection vehicles (RCVs). This collaboration combines Superior Pak's expertise in waste management equipment with Hyzon's hydrogen fuel cell technology. The first five vehicles are anticipated to be operational by Q2 2022, with three available for demonstration in major Australian cities. The initiative aims to meet the growing demand from local governments committed to net-zero emissions in waste collection.
Hyzon Motors Inc. has successfully completed its business combination with Decarbonization Plus Acquisition Corporation (DCRB), receiving over $550 million in primary proceeds, which includes $400 million from a private placement. The transaction was approved by approximately 95% of DCRB's stockholders. Starting July 19, 2021, Hyzon's stock will trade on Nasdaq under the ticker symbols HYZN and HYZNW.
This merger positions Hyzon to advance in the zero-emission hydrogen mobility sector.
Decarbonization Plus Acquisition Corporation (DCRB) announced on July 15, 2021, that its shareholders approved the merger with Hyzon Motors Inc., with approximately 95% of votes in favor. The merger is set to finalize on July 16, 2021, post which DCRB will change its name to Hyzon Motors Inc. and begin trading under the symbols HYZN and HYZNW on July 19, 2021. The deal positions Hyzon as a leader in hydrogen mobility, focusing on zero-emission heavy-duty vehicles, addressing carbon emissions from traditional diesel transport.
Hyzon Motors Inc. announced a vehicle supply agreement with Coregas Pty Limited to deliver two hydrogen fuel cell-powered prime movers to New South Wales, Australia. This marks the first deployment of hydrogen-powered heavy vehicles in Australia, expected to reduce emissions by 50%. The prime movers will integrate with Coregas' existing fleet and support the establishment of hydrogen refueling stations. This initiative aligns with the New South Wales government's $70 million package to develop hydrogen hubs, highlighting the strategic importance of Port Kembla in the country's hydrogen economy.
On July 13, 2021, Hyzon Motors announced the delivery of its first hydrogen fuel cell-powered 55-ton milk truck to Transport Groep Noord, supporting Royal FrieslandCampina's transition to a zero-emissions fleet. The HyMax 450 Puller, based on a Class-8 DAF chassis, offers a 520 km range and 550 kW motor power. This marks a key milestone in FrieslandCampina's sustainability efforts, aiming for CO₂-neutral production by 2050. The partnership reflects a growing trend toward hydrogen vehicles in commercial transport, highlighting potential payload advantages over battery electric trucks.
Hyzon Motors announced significant updates regarding its orders and technological advancements ahead of its proposed merger with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB). Total orders and non-binding memoranda of understanding have surged to $83M, exceeding earlier amounts of $55M in April. The company is scaling up local assembly facilities in Europe and Australia to meet demand, with plans for hydrogen production hubs. Additionally, cost reductions have surpassed $50,000 per vehicle. Hyzon aims to lead in the hydrogen vehicle market, confirming expectations for 2022 deliveries.
Hyzon Motors Inc. announced significant updates regarding orders and technological advancements as it approaches its business merger with Decarbonization Plus Acquisition Corporation (DCRB). Order commitments have surged to $86M, marking a 55% increase since April 2021. Key developments include a major agreement with MPREIS for up to 70 trucks and a collaboration with Chart Industries to create a 1,000-mile range truck. Hyzon is also investing in hydrogen production hubs to enhance infrastructure. Notably, manufacturing cost reductions exceed $50,000 per vehicle, indicating substantial operational efficiencies.
On July 12, 2021, Hyzon Motors announced a memorandum of understanding (MoU) with TotalEnergies to develop hydrogen refueling and vehicle supply solutions for long-haul transport in Europe. The collaboration aims to facilitate fleet transitions to renewable hydrogen fuel, leveraging TotalEnergies' extensive service station network and Hyzon's hydrogen-powered trucks. The agreement builds on TotalEnergies' prior investment in Hyzon and includes plans to produce 80 hydrogen fuel cell trucks for French customers by 2023. The initiative supports the goal of net-zero emissions by 2050.
Hyzon Motors Inc. signed a Heads of Agreement to deliver five hydrogen fuel cell-powered trucks to Ark Energy Corporation, a subsidiary of Korea Zinc Ltd. This agreement aims to replace diesel trucks, reducing CO2 emissions by over 1,400 tons annually. The trucks, set to be fueled by Ark Energy's renewable hydrogen, represent a significant achievement as they are the first ultra-heavy-duty hydrogen trucks. Ark Energy, focused on decarbonization, also joined the Hyzon Zero Carbon Alliance to facilitate the transition to zero-emissions operations.
Hyzon Motors has appointed John Edgley as managing director for Australia and New Zealand, effective July 23, 2021. Edgley, with extensive experience in investment and business development, will oversee the launch of Hyzon's hydrogen fuel cell-powered vehicles in the region, including coaches for Fortescue Metals and prime movers for Hiringa Energy. This leadership change comes ahead of Hyzon's merger with Decarbonization Plus Acquisition Corporation (DCRB), expected to enhance Hyzon's footprint in the Australasian market for zero-emission transport solutions.
