HYZON RECEIVES ORDER FOR REFUSE COLLECTION AND CLASS 8 200KW FUEL CELL ELECTRIC TRUCKS FROM SOUTH SAN FRANCISCO SCAVENGER COMPANY
Rhea-AI Summary
Hyzon (NASDAQ: HYZN) has secured an order for two Fuel Cell Electric Trucks from South San Francisco Scavenger Co., including a refuse collection and Class 8 200kW truck. The order follows successful trials and is the company's second fuel cell refuse vehicle order, with the first received in October 2024 from GreenWaste.
The refuse collection FCET, built in collaboration with New Way Trucks, is North America's first of its kind. It demonstrates a range of at least 125 miles, can perform a minimum of 1,300 cart lifts per route, and achieves up to 300% increased fuel efficiency compared to traditional diesel trucks.
The order is subject to certain conditions, including the availability of applicable subsidies.
Positive
- Second order secured for fuel cell refuse vehicles, showing market validation
- Vehicle demonstrates 300% increased fuel efficiency over diesel trucks
- Proven operational capability with 125-mile range and 1,300 cart lifts per route
Negative
- Order is conditional upon availability of subsidies
News Market Reaction 1 Alert
On the day this news was published, HYZN declined 9.68%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Order Follows Successful Trials and is the Hyzon's Second Fuel Cell Refuse Vehicle Order
"Hyzon's fuel cell technology combines zero-emission performance with the power and reliability needed for demanding applications like refuse collection," said Hyzon Chief Executive Officer (CEO) Parker Meeks. "We are proud to receive this order from a company that has been keeping communities cleaner for over a century and look forward to delivering our proven hydrogen-powered technology to meet the operational demands for the South San Francisco Scavenger Company," added Meeks.
Hyzon's refuse collection FCET is built in cooperation with New Way Trucks, a privately held, industry-leading refuse truck body manufacturer. The FCET is
"As a company dedicated to sustainability and innovation, we are excited to integrate Hyzon's hydrogen-powered trucks into our fleet," said Doug Button, President of South San Francisco Scavenger Company. "This partnership reflects our commitment to adopting cutting-edge technologies that reduce emissions while maintaining the performance standards our community relies upon," he said.
This order is Hyzon's second for its refuse collection FCET, with the first coming in October 2024 from recycling and innovation pioneer GreenWaste®1.
About Hyzon
Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon is focusing on deploying its fuel cell technology in heavy-duty commercial vehicles in Class 8 and refuse collection vehicles across North America, as well as new markets such as stationary power applications. To learn more about how Hyzon partners across the hydrogen value chain to accelerate the clean energy transition, visit www.hyzonfuelcell.com.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, express or implied forward-looking statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies for the future. You are cautioned that such statements are not guarantees of future performance and that the Company's actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause the Company's actual expectations to differ materially from these forward-looking statements include the Company's ability to improve its capital structure; its ability to achieve and maintain manufacturing volume targets; market acceptance for its products and technology; its liquidity needs to operate its business and execute its strategy, and related use of cash; its ability to raise capital through equity issuances, asset sales or the incurrence of debt; the possibility that Hyzon may need to seek bankruptcy protection at any time; Hyzon's ability to fully execute actions and steps that would be probable of mitigating the existence of substantial doubt regarding its ability to continue as a going concern; our ability to enter into any desired strategic alternative on a timely basis, on acceptable terms; our ability to maintain the listing of our Common Stock on the Nasdaq Capital Market; retail and credit market conditions; the availability of clean energy financial subsidies related to our vehicles and products, which are demanded by our customers as a condition to placing an order; higher cost of capital and borrowing costs; impairments; changes in general economic conditions; and the other factors under the heading "Risk Factors" set forth in the Company's Annual Report on Form 10-K, as supplemented by the Company's quarterly reports on Form 10-Q and current reports on Form 8-K. Such filings are available on our website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.
About South San Francisco Scavenger Co., Inc
The South San Francisco Scavenger Company is proud to acknowledge we've been servicing the cities of
1 "GreenWaste" is a registered trademark of GreenWaste Recovery, LLC. |
View original content to download multimedia:https://www.prnewswire.com/news-releases/hyzon-receives-order-for-refuse-collection-and-class-8-200kw-fuel-cell-electric-trucks-from-south-san-francisco-scavenger-company-302333522.html
SOURCE Hyzon
FAQ
What is the range and performance of Hyzon's (HYZN) new refuse collection truck?
How many fuel cell electric trucks did South San Francisco Scavenger order from Hyzon (HYZN)?
When did Hyzon (HYZN) receive its first refuse collection truck order?
Who is Hyzon (HYZN) partnering with to build the refuse collection trucks?
What conditions are attached to the South San Francisco Scavenger's HYZN truck order?
