Hyzon Motors signs exclusive supply contract for hydrogen-powered electric trucks with leading European waste collection solutions company, Geesinknorba

Rhea-AI Summary

Hyzon Motors Inc. (NASDAQ:HYZN) has entered an exclusive supply contract with Geesinknorba Group to provide zero-emission trucks for waste collection. Over three years, Hyzon expects to deliver more than 300 hydrogen fuel cell trucks as demand for decarbonization increases across Europe. Geesinknorba currently operates over 7,500 refuse collection vehicles and aims to integrate Hyzon's technology to enhance their fleet's sustainability. The partnership emphasizes improving community health and environmental impact while addressing the inefficiencies of diesel-powered vehicles.

Positive

• Exclusive contract with Geesinknorba for more than 300 hydrogen fuel cell trucks over three years.
• Partnership supports the growing demand for decarbonization in waste collection across Europe.
• Hyzon's technology helps reduce maintenance costs compared to diesel-powered vehicles.

Negative

• None.

ROCHESTER, N.Y., Dec. 16, 2021 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ:HYZN) is cleaning up waste collection through an exclusive supply contract with Dutch refuse collection company Geesinknorba Group.

Hyzon, a leading global supplier of zero-emission, hydrogen fuel cell electric vehicles, announced today an agreement with Geesinknorba to be its exclusive vendor for zero emission trucks.

Geesinknorba already deploys zero emissions vehicles throughout Europe, with 300 trucks or more expected to be supplied by Hyzon during the three-year contract. The companies expect annual demand to grow as customers prioritize the decarbonization of waste collection, and this will be facilitated by increasing availability of hydrogen throughout Europe. Recent announcements on green hydrogen production and the buildout of hydrogen infrastructure have reached fever pitch in the wake of the COP 26 Summit in Glasgow.

Hyzon CEO Craig Knight described the partnership as one borne out of mutual ambition to significantly improve the local community and global environmental impact of waste collection activities in the near term.

"The partnership with Geesinknorba builds on a shared understanding that sustainable refuse collection can have a significant impact on decarbonizing communities and improving quality of life in our residential neighborhoods," Knight said. "To realize this impact, the solutions must be accessible, robust, and easy to use. Combining Geesinknorba and Hyzon's expertise will provide this solution to fleet operators across Europe."

Geesinknorba, a pioneer in developing zero-emissions refuse collection technology, operates in more than 30 countries and has more than 7,500 refuse collection vehicles on the road; they are also the largest provider of battery- and fuel-cell electric refuse collection vehicles in Europe. To maintain and further this leadership position, the Geesinknorba refuse collection bodies, compaction mechanisms and lifters will all be available for integration with the Hyzon zero emission vehicle platforms.

Diesel-powered refuse collection vehicles suffer from high maintenance costs and extremely poor fuel efficiency due to the nature of their daily operations, and are frequently the source of noise complaints in residential neighborhoods.

Refuse collection offers a particularly suitable application for hydrogen fuel cell technology, as the back-to-base model allows for a central refueling infrastructure. Operating the hydraulic compaction system and lifters for many hours each day is very demanding; Hyzon's hydrogen powered fuel cell trucks can readily meet these operational requirements. Battery and fuel cell electric vehicles are also significantly quieter than traditional refuse collection trucks.

Around the world, government-owned and -operated fleets are emerging as early adopters of hydrogen fuel cell-powered vehicles and policymakers across Europe are vocal in their pursuit of decarbonization, issuing tenders and incentives for emissions-free vehicles.

The two companies will collaborate to provide ongoing maintenance and service to end-use customers, making it easy for fleet owners to switch to an emissions-free solution.

The initial Hyzon trucks are expected to be deployed by Geesinknorba to the government of Barcelona. They will be produced in Geesinknorba's facility in Emmeloord and Hyzon's manufacturing plant in Groningen, Netherlands.

About Hyzon
Hyzon is a global leader in fuel cell electric mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in the Netherlands, China, Singapore, Australia, and Germany. Hyzon is an energy transition accelerator and technology innovator, providing end-to-end solutions primarily for the commercial mobility sector with a focus on the commercial vehicle market and hydrogen supply infrastructure. 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 to mitigate emissions from diesel transportation, which is one of the single largest sources of carbon emissions globally. The Company is contributing to the escalating adoption of fuel cell electric vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com.

About Geesinknorba 
Headquartered in Emmeloord (Netherlands) with production facilities in Emmeloord and Sevilla (Spain) and service locations in Benelux, Scandinavia, Germany, United kingdom, France, Spain, Italy and Eastern Europe, is an innovative player in the waste collection industry. Geesinknorba provides advanced products and services to collect resources in the most effective, efficient, safe and ecological friendly way. Geesinknorba offers 3 brands; Geesink and Norba (Refuse Collection Vehicles) and Kiggen (compactors). Geesinknorba has been pioneering low emission solutions and technologies since 2003. This pioneering power enabled Geesinknorba to be the first to bring a hybrid RCV to the market and evolving to the first full electric RCV as well. Building on years of knowledge and international know-how, Geesinknorba is able to offer best-in-class solutions and to drive sustainability.
For more information visit: www.geesinknorba.com.

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, 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, including statements about our 2021 outlook, 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, Hyzon disclaims 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. Hyzon cautions 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 Hyzon, including risks and uncertainties described in the  "Risk Factors" section of Hyzon's definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (the "SEC") on June 21, 2021, our Registration Statement on Form S-1 filed with the SEC on July 30, 2021, and other documents filed by Hyzon 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.

Hyzon Motors' contacts 
For Media:
hyzon@kivvit.com

For investors: 
Darla Rivera
Investor Relations
IR@hyzonmotors.com

 

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SOURCE Hyzon Motors Inc.

FAQ

What is the new contract Hyzon Motors has signed?

Hyzon Motors has signed an exclusive supply contract with Geesinknorba to deliver over 300 zero-emission trucks over three years.

How does the contract with Geesinknorba impact Hyzon's market position?

The contract positions Hyzon as a key player in the growing market for decarbonized waste collection solutions in Europe.

What are the expected benefits of the hydrogen fuel cell trucks?

The hydrogen fuel cell trucks are expected to reduce maintenance costs, improve fuel efficiency, and lessen noise complaints compared to traditional diesel vehicles.

When will the initial Hyzon trucks be deployed?

The initial Hyzon trucks are expected to be deployed by Geesinknorba to the government of Barcelona.

What is the significance of the Geesinknorba partnership for Hyzon Motors?

The partnership is significant as it enhances Hyzon's reputation in the zero-emission vehicle sector and supports community and environmental improvements.