Hyzon Motors to Expand US Operations in Monroe County, New York

Rhea-AI Summary

Hyzon Motors plans to expand its operations in Honeoye Falls, NY, creating up to 100 jobs over the next three years. This follows its announcement of a merger with Decarbonization Plus Acquisition Corporation (DCRB), valuing the company at $2.7 billion. The expansion involves renovating 78,000 square feet for manufacturing next-generation hydrogen fuel cells for commercial vehicles. CEO Craig Knight emphasized the support received from local development agencies. Governor Andrew M. Cuomo highlighted the positive impact on the economy and green energy goals.

Positive

• Hyzon Motors expanding operations in Honeoye Falls, creating up to 100 jobs.
• Merger with DCRB values Hyzon at $2.7 billion, indicating strong market valuation.
• Plans to renovate 78,000 square feet for manufacturing advanced hydrogen fuel cells.

Negative

• None.

ROCHESTER, N.Y., Feb. 19, 2021 /PRNewswire/ -- Hyzon Motors Inc. ("Hyzon" or the "Company"), the industry-leading global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles, plans to further grow its operations in the Village of Honeoye Falls in Monroe County, New York, creating up to 100 new jobs over the next three years.

This follows Hyzon's announcement on February 9, 2021 that it plans to go public through a merger with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB) in a deal that values the fuel-cell truck company at $2.7 billion.

Hyzon will renovate 78,000 square-feet of existing building space on Quaker Meeting House Road where the Company will manufacture next-generation fuel cells for heavy- and medium-duty commercial vehicles. Hyzon first established its US operations in 2020 in Honeoye Falls. The Company has developed hydrogen fuel cell stacks that can provide up 150kW of power and expect to launch fuel cell systems capable of 300kW in 2022.

Hyzon CEO Craig Knight said, "We are excited to announce our plans to build out a substantial manufacturing facility in the Rochester area, aided by great support from Empire State Development, Monroe County, and Greater Rochester Enterprise. Hyzon will be manufacturing industry leading fuel cell systems that have been proven in heavy trucks deployed internationally and commissioning zero emission trucks with zero compromise for fleet operators." 

Governor Andrew M. Cuomo announced Hyzon's expansion, saying: "New York's targeted investments in the tech and green energy industries are attracting new businesses to the state and creating more opportunities for New Yorkers. Hyzon Motors' decision to grow its forward-thinking business here in New York shows that our investments are working. The Company's new fuel cell manufacturing facility will create 100 top-quality, high-tech manufacturing jobs, strengthening both the regional and statewide economies while also furthering our state's green energy goals."

The full release from the New York State Office of the Governor is available online.

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 differentiated, pure-play, independent mobility company with an exclusive focus on hydrogen in the commercial vehicle market. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon will produce zero emission heavy duty trucks and buses for customers across North America, Europe, Asia and Australia. 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.

For Media:

Brian Brooks 
H+K Strategies
713.752.1901
brian.brooks@hkstrategies.com

For Investors:

Caldwell Bailey / Marc Silverberg
HyzonMotorsIR@icrinc.com

View original content:http://www.prnewswire.com/news-releases/hyzon-motors-to-expand-us-operations-in-monroe-county-new-york-301231497.html

SOURCE HYZON Motors

FAQ

What is the significance of Hyzon Motors' merger with DCRB?

The merger values Hyzon Motors at $2.7 billion, indicating strong market confidence.

How many jobs will Hyzon Motors create in Monroe County?

Hyzon Motors plans to create up to 100 jobs in Monroe County over the next three years.

What type of products will Hyzon Motors manufacture in its new facility?

Hyzon Motors will manufacture next-generation hydrogen fuel cells for heavy- and medium-duty commercial vehicles.

Where is Hyzon Motors expanding its operations?

Hyzon Motors is expanding its operations in the Village of Honeoye Falls, Monroe County, New York.

When did Hyzon Motors announce its merger with DCRB?

Hyzon Motors announced its merger with DCRB on February 9, 2021.