Decarbonization Plus Acquisition Corporation Reminds Stockholders to Vote in Favor of Business Combination with Hyzon

Rhea-AI Summary

Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB) urges stockholders to vote for its business combination with Hyzon Motors Inc., a leader in hydrogen fuel cell commercial vehicles. The DCRB board believes the merger aligns with stockholders' best interests. The special meeting is scheduled for July 15, 2021. Eligible stockholders can vote online, by phone, or by mail before the deadline. Voting is crucial for ensuring a successful merger, which aims to enhance the company's position in the zero-emission vehicle market.

Positive

• Acquisition of Hyzon Motors may expand DCRB's market presence in zero-emission vehicles.
• Potential for revenue growth through Hyzon's innovative hydrogen fuel cell technology.

Negative

• Need for stockholder approval adds uncertainty to the merger's success.
• Forward-looking statements indicate risks and uncertainties regarding the closing of the business combination.

MENLO PARK, Calif., June 30, 2021 /PRNewswire/ -- Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB) ("DCRB"), a publicly-traded special purpose acquisition company, reminds its stockholders to vote in favor of the previously announced business combination (the "Business Combination") with Hyzon Motors Inc. ("Hyzon"), a leading supplier of zero-emission, hydrogen fuel cell-powered commercial vehicles.

The DCRB board of directors believes the proposed Business Combination is in the best interests of DCRB and its stockholders, and recommends that DCRB stockholders vote "FOR" the adoption of the Business Combination Agreement and Plan of Reorganization, dated as of February 8, 2021, by and among DCRB, DCRB Merger Sub Inc., a wholly owned subsidiary of DCRB, and Hyzon.

Stockholders who owned common stock of DCRB as of the close of business on June 1, 2021 (the "Record Date") are entitled to attend the special meeting of DCRB stockholders to approve the pending Business Combination (the "Special Meeting") and to vote their shares held as of the Record Date, regardless of whether such stockholders have subsequently sold their shares.

The Special Meeting is scheduled to be held on July 15, 2021 at 10:00 a.m. Eastern Time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at https://www.cstproxy.com/decarbonizationplusacquisition/sm2021.

Additional information on how stockholders of record may vote their shares can be found at https://www.DCRBplus.com/DCRB1-vote.

Every stockholder's vote is important, regardless of the number of shares held. Accordingly, all DCRB stockholders who held shares as of the Record Date who have not yet voted are encouraged to do so as soon as possible online or by phone and must vote by no later than 10:00 a.m. Eastern Time on July 15, 2021 at the Special Meeting. For the avoidance of doubt, DCRB stockholders who owned shares as of the Record Date and subsequently sold all or a portion of their shares are STILL entitled to vote shares held as of the Record Date, and are encouraged to do so. DCRB's board of directors recommends you vote "FOR" the Business Combination with Hyzon and "FOR" all of the related proposals described in the definitive proxy statement on Schedule 14A (the "Proxy Statement") filed by DCRB with the U.S. Securities and Exchange Commission ("SEC") on June 21, 2021.

These are the two easiest and fastest ways to vote – and they are both free:

• Vote Online (Highly Recommended): Follow the instructions provided by your broker, bank or other nominee on the Voting Instruction Form mailed (or e-mailed) to you. To vote online, you will need your voting control number, which you can find on your Voting Instruction Form. Votes submitted electronically over the Internet must be received by 11:59 p.m. Eastern Time on July 14, 2021.
• Vote by Telephone: Follow the instructions provided by your broker, bank or other nominee on the Voting Instruction Form mailed (or e-mailed) to you. To vote via the automated telephone service, you will need your voting control number, which you can find on your Voting Instruction Form. Votes submitted over the telephone must be received by 11:59 p.m. Eastern Time on July 14, 2021.

Additionally, you can also vote by mail:

• Vote by Mail: Follow the instructions provided by your broker, bank or other nominee on the Voting Instruction Form mailed (or e-mailed) to you. You will need your voting control number, which is included on the Voting Instruction Form, in order to vote by mail. Please be sure to (1) mark, sign and date your Voting Instruction Form, (2) fold and return your Voting Instruction Form in the postage-paid envelope provided, and (3) mail your Voting Instruction Form by July 8, 2021 to ensure receipt on or before 11:59 p.m. Eastern Time on July 14, 2021.

YOUR CONTROL NUMBER IS FOUND ON YOUR VOTING INSTRUCTION FORM. If you did not receive or misplaced your Voting Instruction Form, contact your bank, broker or other nominee to obtain your control number in order to vote. A bank, broker or other nominee is a person or firm that acts as an intermediary between an investor and the stock exchange who can help you vote your shares.

If any individual DCRB stockholder does not received the Proxy Statement, such stockholder should (i) confirm their Proxy Statement's status with their broker, (ii) contact Morrow Sodali LLC, DCRB's proxy solicitor, for assistance via e-mail at DCRB.info@investor.morrowsodali.com or toll-free call at (800) 662-5200. Banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400 or (iii) contact DCRB at 2744 Sand Hill Road, Suite 100, Menlo Park, California, 94025.

Important Information for Investors and Stockholders

In connection with the proposed business combination between Hyzon and DCRB, DCRB filed the Proxy Statement and other relevant documents with the SEC. Stockholders and other interested persons are urged to read the Proxy Statement and any other relevant documents filed with the SEC because they contain important information about DCRB, Hyzon and the proposed business combination. Stockholders may obtain a free copy of the Proxy Statement, as well as other filings containing information about DCRB, Hyzon and the proposed business combination, without charge, at the SEC's website located at www.sec.gov.

Participants in the Solicitation

DCRB, Hyzon and their directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from DCRB's stockholders in respect of the proposed business combination and the other matters set forth in the Proxy Statement. Information regarding DCRB's directors and executive officers is available in DCRB's Annual Report on Form 10-K for the annual period ended December 31, 2020, and under the heading "Information About DCRB" in the Proxy Statement related to the proposed business combination filed with the SEC on June 21, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is set forth in the Proxy Statement relating to the proposed business combination.

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, including those regarding DCRB's proposed acquisition of Hyzon and DCRB's ability to consummate the transaction, are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, DCRB and Hyzon disclaim any duty to update any forward -looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. DCRB and Hyzon caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either DCRB or Hyzon, including risks and uncertainties described in the "Risk Factors" section of Exhibit 99.3 of DCRB's Current Report on Form 8-K filed with the SEC on February 9, 2021, the "Risk Factors" section of DCRB's definitive proxy statement on Schedule 14A filed with the SEC on June 21, 2021, and other documents filed by DCRB from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements, such as risks related to the ability to convert non-binding memoranda of understanding into binding orders or sales (including because of the current or prospective financial resources of the counterparties to Hyzon's non-binding memoranda of understanding and letters of intent), or the ability to identify additional potential customers and convert them to paying customers. Hyzon gives no assurance that Hyzon will achieve its expectations.

About Decarbonization Plus Acquisition Corporation

Decarbonization Plus Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRB is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone's 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than $5 billion of equity invested in renewables.

About Hyzon Motors

Headquartered in Rochester, NY and with operations in Europe, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility. Hyzon is a pure-play hydrogen mobility company with an exclusive focus on hydrogen in the commercial vehicle market.  Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to produce zero-emission heavy duty trucks and buses for customers in North America, Europe, and across the world. The company is contributing to the escalating adoption of hydrogen vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com

Contacts:

Hyzon Motors Inc.

For Investors:
Caldwell Bailey
ICR, Inc.
HyzonMotorsIR@icrinc.com

For US, Europe and Asia Media:
Caroline Curran
Hill+Knowlton Strategies
+1 256-653-5811
caroline.curran@hkstrategies.com 

For Australasian Media:
Fraser Beattie
Cannings Purple
+61 421 505 557
fbeattie@canningspurple.com.au

Decarbonization Plus Acquisition Corporation

For Investors:
Peter Haskopoulos, Chief Financial Officer
Email: phaskopoulos@riverstonellc.com 
Phone: 212-271-6247

Media:
Daniel Yunger / Jeffrey Taufield
Kekst CNC
daniel.yunger@kekstcnc.com / jeffrey.taufield@kekstcnc.com

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SOURCE Decarbonization Plus Acquisition Corporation

FAQ

What is the purpose of Decarbonization Plus Acquisition Corporation's business combination with Hyzon Motors?

The business combination aims to merge DCRB with Hyzon Motors to enhance market opportunities in hydrogen fuel cell vehicles.

When is the special meeting for DCRB stockholders to vote on the business combination?

The special meeting is scheduled for July 15, 2021, at 10:00 a.m. Eastern Time.

How can DCRB stockholders vote on the business combination with Hyzon Motors?

Stockholders can vote online, by phone, or by mail using their voting control number.

What are the risks associated with DCRB's merger with Hyzon Motors?

The forward-looking statements highlight risks such as uncertainties in consummating the transaction and market conditions.

What benefits does DCRB expect from acquiring Hyzon Motors?

DCRB anticipates market expansion and potential revenue growth through Hyzon's focus on zero-emission commercial vehicles.