Hyzon Motors appoints former McKinsey partner as chief strategy officer to lead deployment of 1,000 hydrogen hubs

Rhea-AI Summary

Hyzon Motors has appointed Parker Meeks as Chief Strategy Officer, effective June 7, aiming to enhance global growth in hydrogen mobility. Meeks, a former managing partner at McKinsey, brings over 15 years of experience in energy and infrastructure. His primary focus will be on deploying a network of 1,000 hydrogen hubs to support a global fleet of 500,000 hydrogen vehicles. This initiative is expected to utilize local resources for hydrogen production, enhancing efficiency and reducing costs as Hyzon prepares for its upcoming business combination with Decarbonization Plus Acquisition Corp. (DCRB).

Positive

• Appointment of Parker Meeks expected to strengthen strategic direction.
• Meeks' extensive experience in energy and infrastructure could enhance business growth.
• Plans to deploy 1,000 hydrogen hubs projected to support a significant fleet of hydrogen vehicles.

Negative

• Concerns regarding continuity of leadership after transition.
• Potential challenges in executing plans for hydrogen hub deployment.

ROCHESTER, N.Y., June 15, 2021 /PRNewswire/ -- Hyzon Motors Inc., a leading supplier of zero-emission, hydrogen fuel cell-powered commercial vehicles, announced today the appointment of Parker Meeks as chief strategy officer to help drive the company's global growth in hydrogen mobility.

Meeks, formerly the managing partner of McKinsey & Company's Houston office and founding member of McKinsey's Capital Productivity practice, has more than 15 years of experience supporting businesses in the energy, infrastructure and transportation sectors, including development of emerging energy technologies and supply networks.

More recently, he was president of the infrastructure sector for TRC, a leading provider of end-to-end engineering, consulting and construction management solutions.

His appointment, effective June 7, comes as Hyzon readies for the anticipated closing of transactions contemplated by Hyzon's previously announced definitive business combination agreement with Decarbonization Plus Acquisition Corp. (NASDAQ: DCRB, DCRBW) that would result in Hyzon becoming a publicly listed company.

"Hyzon Motors leads the commercial mobility industry in the shift towards a zero-emissions future, and I am thrilled to support this transformative mission," Meeks said. "Years of operational experience and leading technological achievement have prepared Hyzon to meet the approaching inflection point in the hydrogen industry. I look forward to growing our portfolio to provide end-to-end solutions for customers across the mobility industry."

One of Meeks' key responsibilities will be overseeing the company's effort to deploy a network of hydrogen hubs. The company aims to develop 1,000 green hydrogen hubs to service a global fleet of 500,000 hydrogen commercial vehicles. Planning is well underway, with several development partnerships launched.

This initiative benefits from an existing, robust network of partners along the hydrogen value chain via Hyzon's not-for-profit consortium, the Hyzon Zero Carbon Alliance.

The portfolio of refuelling sites is planned to include solar, wind, biomass and waste-to-energy hydrogen production technologies in line with a region's most abundant resource, eliminating the costly and energy inefficient practice of transporting hydrogen over long distances. Through this model, hubs are expected to become highly efficient in comparison to competitors, and to lead to significant cost reductions and stimulation of local hydrogen economies.

About Hyzon Motors Inc.

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 Decarbonization Plus Acquisition Corporation's ("DCRB") 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 U.S. Securities and Exchange Commission (the "SEC") on Feb. 9, 2021, the "Risk Factors" section of DCRB's preliminary proxy statement on Schedule 14A filed with the SEC on March 17, 2021, as amended on May 14, 2021 and June 4, 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.

Important Information for Investors and Stockholders 

In connection with the proposed business combination, DCRB filed a 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 Dec. 31, 2020, and under the heading "Information About DCRB" in DCRB's preliminary proxy statement related to the proposed business combination filed with the SEC on March 17, 2021, as amended on May 14, 2021, and June 4, 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.

Hyzon Motors' contacts
For U.S., 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 

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

 

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SOURCE HYZON Motors

FAQ

What is the role of Parker Meeks at Hyzon Motors?

Parker Meeks has been appointed as Chief Strategy Officer, focusing on global growth in hydrogen mobility.

When did Parker Meeks join Hyzon Motors?

Parker Meeks officially joined as Chief Strategy Officer on June 7, 2021.

What is the significance of the 1,000 hydrogen hubs for Hyzon?

The 1,000 hydrogen hubs aim to support a fleet of 500,000 hydrogen commercial vehicles, enhancing local efficiency and reducing costs.

How does Hyzon's business combination with DCRB impact its operations?

The business combination with DCRB is intended to make Hyzon a publicly listed company, providing capital for its growth initiatives.