Hyzon Motors to supply 154-ton fuel cell-powered hydrogen trucks to Australian subsidiary of Korea Zinc, world's largest zinc producer
Hyzon Motors (NASDAQ: HYZN) has secured a definitive order for five 154-ton zero-emission hydrogen fuel cell trucks from Ark Energy Corporation, a subsidiary of Korea Zinc, to be delivered by the end of 2022. These trucks will be used to replace diesel vehicles in a short-haul fleet, reducing CO2 emissions by over 1,400 tons annually. Production will align with Hyzon's local manufacturing plans in Australia, and the vehicles will be fueled at Ark Energy's hydrogen hub, utilizing green hydrogen from a solar-powered electrolyzer.
- Secured an order for five 154-ton hydrogen fuel cell trucks.
- Expected CO2 emissions reduction of over 1,400 tons annually.
- Aligning production with local Australian manufacturing to boost regional industry.
- Delivery timeline requires completion by end of 2022, introducing potential supply chain risks.
ROCHESTER, N.Y., Sept. 14, 2021 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN), a leading global supplier of zero-emission hydrogen fuel cell-powered commercial vehicles, announced today that it has received a definitive order for five, 154-ton trucks from Ark Energy Corporation, the Australian subsidiary of the world's largest zinc, lead and silver producer, Korea Zinc.
Under the order, Hyzon is obligated to deliver the zero-emission vehicles to Ark Energy by the end of 2022. Ark Energy will lease the trucks to its sister company, Townsville Logistics, which will deploy them in triple (three-trailer) road train configurations as part of their short-haul fleet operating on a 30-kilometer loop from the Port of Townsville to the Sun Metals zinc refinery owned by the group. The fuel cell trucks, replacing their diesel equivalents, are expected to reduce carbon dioxide emissions by over 1,400 tons per year.
Hyzon expects to assemble the vehicles in Australia, aligning with the company's plans to boost local Australian production of fuel cell vehicles. Hyzon expects that the vehicles will be fueled at Ark Energy's SunHQ hydrogen hub in Townsville, with green hydrogen produced from an electrolyzer powered by a co-located solar farm.
The project is expected to be the first in the world to use Hyzon's ultra-heavy-duty fuel cell vehicles.
"Hyzon is the only hydrogen commercial mobility company that can meet our needs," said Ark Energy CEO Daniel Kim. "Our fuel cell trucks need to be 154-ton rated, built to Australian Design Rules and delivered by the end of next year. That was the ultimate basis for placing this order."
Hyzon is committed to developing its next-generation 370kW fuel cell systems (equivalent to 500 horsepower); this project will help advance the growing market for this application in Australia's ultra-heavy transport sector as well as other adjacent industries including the mining, rail and marine sectors.
"This definitive order from Ark Energy is a prime example that decarbonization is happening now," said Craig Knight, CEO of Hyzon. "Our work with Ark Energy will help lay the foundation for an emissions-free future in Australia."
About Ark Energy Corporation
Ark Energy Corporation Pty Ltd is an Australian subsidiary of Korea Zinc Company Ltd, which is the largest zinc, lead and silver producer in the world. Ark Energy's mandate is to decarbonize the energy supply of the Korea Zinc group starting with the Sun Metals zinc refinery in Townsville as it aims to become the first refinery in the world to produce green zinc. Ark Energy will leverage and expand on the group's existing investments across the hydrogen value chain to become the safest and most competitive producer of green hydrogen in the world as well as an extreme user and demand creator of hydrogen.
About Hyzon
Headquartered in Rochester, N.Y., with U.S. operations in the Chicago and Detroit areas, and international operations in the Netherlands, Singapore, Australia, Germany, and China, Hyzon is a leader in fuel cell electric mobility with an exclusive focus on the commercial vehicle market, and a near-term focus on back to base (captive fleet) operations. 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.
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.
Media contacts
Hyzon Motors
Caroline Curran
Hill+Knowlton Strategies
+1 256-653-5811
caroline.curran@hkstrategies.com
For investors:
Darla Rivera
Hyzon Motors Inc
investors@hyzonmotors.com
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