Hyzon Motors' partner Raven SR Inc. announces its first waste-to-hydrogen hub

Rhea-AI Summary

Hyzon Motors (NASDAQ: HYZN) announced its partnership with Raven SR Inc. to develop a waste-to-hydrogen production hub in Northern California, set to commence operations in summer 2022. Hyzon will invest up to 75% in equity and offtake, enabling the processing of 99.9 tons of organic waste daily. This facility aligns with California's emission reduction goals and aims to produce 2,000 metric tons of renewable hydrogen annually. The partnership may enhance the availability and reduce costs for zero-emission vehicles, contributing to the decarbonization of the transport sector.

Positive

• Hyzon will invest up to 75% in the waste-to-hydrogen hub, indicating strong commitment and potential returns.
• The facility aims to produce 2,000 metric tons of renewable hydrogen per year, helping to meet growing energy demands.
• Partnership supports California's emission reduction goals and enhances the availability of zero-emission fuels.

Negative

• No immediate revenue figures or financial projections were disclosed, creating uncertainty around profitability.
• The success of the project is contingent on regulatory approvals and operational efficiencies.

ROCHESTER, N.Y., Aug. 24, 2021 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN) congratulates its partner, Raven SR Inc., for announcing its first waste-to-green hydrogen production hub, planned to become operational in summer 2022. Located at Republic Services' West Contra Costa Sanitary Landfill in Northern California, the facility will be co-developed by the partners, with Hyzon investing up to 75% in the equity and offtake from the waste-to-hydrogen hub.

Raven, a renewable fuels company, expects initially to process up to 99.9 tons of organic waste per day at the landfill, producing up to 2,000 metric-tons per year of renewable hydrogen as well as power for its operations. Hyzon, a leading global supplier of zero-emission hydrogen fuel cell-powered commercial vehicles, will provide offtake through its vehicle customers.

This facility will help move toward California's goal of reducing emissions from organic waste under the state's Short-Lived Climate Pollutant (SLCP) Reduction Strategy while also producing negative carbon intensity hydrogen fuel.

Raven's patented Steam/CO₂ Reformation process is one of the only non-combustion, waste-to-hydrogen processes in the world. Its process avoids the creation of toxic pollutants and particulates, producing more green hydrogen per ton of waste than competing processes.

"As we bring this system online under very strict environmental regulatory controls, we will demonstrate we can convert waste anywhere," said Raven CEO Matt Murdock. "In doing so, the Raven SR process will significantly reduce municipal solid waste and toxic emissions, improve air quality, and create clean, renewable fuels."

It also will ease the transition to zero-emissions vehicles for fleet operators, since production, refueling infrastructure and vehicle availability will all be aligned geographically and technologically. This alignment is expected to reduce total costs to customers.

"Raven's technology will not only provide zero-emissions fuel for our vehicles, but also eliminates an additional source of carbon emissions – landfill waste," said Hyzon CEO Craig Knight. "In this way, our partnership expedites decarbonization of the transport industry. Launching this "greener than green" refueling station is the first step in realizing Hyzon's vision of 1,000 green hydrogen hubs."

Hyzon and Raven previously announced their agreement to co-develop up to 250 low-to-negative carbon intensity hydrogen hubs, with this hub representing the first in their collaboration. In connection with this partnership, Hyzon has acquired a minority interest in Raven.

Hyzon congratulates both Raven on the first hydrogen hub and Republic Services' progressive decision to move forward with this impactful project.

About Hyzon
Headquartered in Rochester, N.Y., with U.S. operations also in Chicago and Detroit, and international operations in the Netherlands, 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 supply zero-emission heavy duty trucks and buses to customers in North America, Europe and around 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.

About Raven SR Inc.
Raven SR Inc., headquartered in Wyoming, transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels. Using its proprietary, non-combustion, non-catalytic "Steam/CO₂ Reformation" technology, Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Raven SR, led by co-founders Matt Murdock and Matt Scanlon, is committed to adding value to local resources and communities while responsibly reducing greenhouse gases and achieving a low carbon economy. By using modular systems and producing low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility. Visit ravensr.com.

Forward-Looking Statements 
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity, market share, and hydrogen production and offtake. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management of Hyzon Motors Inc. (formerly known as Decarbonization Plus Acquisition Corporation) ("Hyzon" or the "Company") and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, nor be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Hyzon. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination between Hyzon and Decarbonization Plus Acquisition Corporation (formerly known as Hyzon Motors Inc.) and related transactions (the "Business Combination"); risks relating to the uncertainty of the projected financial information with respect to Hyzon; risks related to the rollout of Hyzon's business and the timing of expected business milestones; the effects of competition on Hyzon's business; the ability of Hyzon to issue equity or equity-linked securities in the future; and those factors discussed in Hyzon's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC") on June 21, 2021 under the heading "Risk Factors" and other documents of Hyzon filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Hyzon presently does not know or that Hyzon currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Hyzon's expectations, plans or forecasts of future events and views as of the date of this press release. Hyzon anticipates that subsequent events and developments will cause Hyzon's assessments to change. However, while Hyzon may elect to update these forward-looking statements at some point in the future, Hyzon specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Hyzon's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither Hyzon nor any of its affiliates have any obligation to update this press release.

Media contacts

Hyzon Motors' contacts 
Caroline Curran
Hill+Knowlton Strategies
+1 256-653-5811
caroline.curran@hkstrategies.com

Raven SR's contacts 
Katharine Fraser
Hill+Knowlton Strategies
+1 281-409-9351
katharine.fraser@hkstrategies.com

View original content:https://www.prnewswire.com/news-releases/hyzon-motors-partner-raven-sr-inc-announces-its-first-waste-to-hydrogen-hub-301361893.html

SOURCE HYZON Motors

FAQ

What is the projected operational date for the Hyzon and Raven SR hydrogen hub?

The hydrogen hub is planned to become operational in summer 2022.

How much will Hyzon invest in the waste-to-hydrogen hub?

Hyzon will invest up to 75% in the equity and offtake from the hub.

What is the expected hydrogen production capacity of the new facility?

The facility is expected to produce up to 2,000 metric tons of renewable hydrogen annually.

Where is the waste-to-hydrogen facility located?

The facility is located at Republic Services' West Contra Costa Sanitary Landfill in Northern California.

What environmental benefits does the partnership aim to achieve?

The project aims to reduce emissions from organic waste and produce negative carbon intensity hydrogen fuel.