Hyzon Motors to Build United States' Largest Fuel Cell Material Production Facility

Rhea-AI Summary

Hyzon Motors announced plans to build the largest fuel cell membrane electrode assembly (MEA) production line in the U.S. at its new Hyzon Innovation Center in Bolingbrook, Illinois. This facility aims to produce enough MEAs for up to 12,000 hydrogen fuel cell trucks annually, addressing supply bottlenecks. The production line is expected to commence in Q4 2021. The merger with Decarbonization Plus Acquisition Corp (NASDAQ: DCRB, DCRBU) is anticipated to close in Q2 2021, further supporting Hyzon's expansion in the hydrogen fuel sector.

Positive

• Plans to build the largest MEA production line in the U.S.
• Expected production capacity of 12,000 hydrogen fuel cell trucks annually.
• New facility to reduce supply bottlenecks for fuel cell production.
• Merger with Decarbonization Plus Acquisition Corp expected to close in Q2 2021.

Negative

• None.

ROCHESTER, N.Y., March 1, 2021 /PRNewswire/ -- Hyzon Motors Inc. ("Hyzon" or the "Company"), a leading supplier of zero-emission hydrogen fuel cell powered heavy vehicles, today announced plans to build the largest fuel cell membrane electrode assembly (MEA) production line for commercial vehicles in the United States at its new Hyzon Innovation Center located in Bolingbrook, Illinois, just outside of Chicago.

As announced previously, Hyzon plans to go public through a merger with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB, DCRBW, DCRBU), a publicly-traded special purpose acquisition company (SPAC). The combination is expected to close in the second quarter of 2021.

The MEA is the critical component of a fuel cell and accounts for about 70% of the cost of a fuel cell stack. MEAs are currently produced in Canada, Europe, Japan, Korea and China at commercial scale. Smaller scale MEA production in the United States has so far been a supply and cost bottleneck for US fuel cell vehicle production.

At full capacity, the Hyzon Innovation Center is expected to produce enough MEAs to cover the production needs for up to 12,000 hydrogen fuel cell powered trucks every year. The facility is expected to commence production of MEAs in the fourth quarter of 2021, and is planned to open with 28,000 square feet of manufacturing space, before expanding in a second phase to 80,000 square feet. Hyzon expects to eventually fill up to 50 full-time positions at this production facility.

George Gu, Chairman and Co-Founder of Hyzon, said, "The new Hyzon Innovation Center is essential to our strategy to expand the US hydrogen supply chain, reduce fuel cell costs for commercialization, and create local jobs. We chose the greater Chicago area due to its top-tier universities, national labs, equipment companies and manufacturers, and a large pool of talent for recruiting a highly-skilled workforce. We are looking forward to empowering this unique ecosystem so that we can further accelerate the energy transition and decarbonize heavy road transport."

Craig Knight, Chief Executive Officer and Co-Founder of Hyzon, said, "We are excited about our plans to open the first high-volume MEA production line for hydrogen fuel cells in the US, which we anticipate will enable us to rapidly scale up the production of our fuel cells and deliver up to 12,000 Hyzon zero-emission heavy vehicles each year. We see a substantial uptake in Europe already, and anticipate North America will soon follow suit on this decarbonization journey for heavy transport."

The Hyzon Innovation Center will also conduct research and development on materials for fuel cells, electrolyzers, solid-state batteries, advanced e-drive systems, autonomous driving technologies and green hydrogen production technologies.

In addition to the Hyzon Innovation Center outside Chicago, Hyzon has two facilities in Rochester, New York – one serving as a fuel cell testing facility and the other as its US headquarters, fuel cell engine production facility, and vehicle integration center. The Company currently produces commercial vehicles at its facility in Groningen, The Netherlands, through a joint venture with Holthausen Clean Technology B.V.

About Hyzon Motors Inc.
Headquartered in Rochester, NY and with operations in Europe, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility. Hyzon is led by co-founders George Gu, Craig Knight and Gary Robb and 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 across 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

Hyzon Motors Contacts

For US, Europe and Asia Media:
Brian Brooks
H+K Strategies
713.858.8842
brian.brooks@hkstrategies.com

For Australian Media:
Fraser Beattie
Cannings Purple
fbeattie@canningspurple.com.au

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

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SOURCE HYZON Motors

FAQ

What is Hyzon Motors' recent announcement regarding fuel cell production?

Hyzon Motors announced plans to build the largest fuel cell membrane electrode assembly (MEA) production line in the U.S. to support hydrogen fuel cell truck production.

When is the Hyzon Innovation Center expected to start production?

The Hyzon Innovation Center anticipates starting production of MEAs in the fourth quarter of 2021.

What is the estimated production capacity of the new MEA production line?

The new MEA production line is expected to produce enough MEAs for up to 12,000 hydrogen fuel cell trucks per year.

What is the significance of the merger with Decarbonization Plus Acquisition Corp?

The merger, expected to close in Q2 2021, will support Hyzon Motors' expansion in the hydrogen fuel industry.

Where is the Hyzon Innovation Center located?

The Hyzon Innovation Center is located in Bolingbrook, Illinois, near Chicago.