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Hyzon Delivers First Four Fuel Cell Electric Vehicles to Performance Food Group

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Hyzon Motors Inc. delivers four fuel cell electric vehicles to Performance Food Group's Vistar facility in Fontana, California. The partnership aims to reduce carbon emissions from heavy-duty trucking and improve sustainability. The vehicles have an expected travel range of up to 350 miles and an expected refueling time of fifteen minutes with fast-fill dispensing. PFG plans to insert the vehicles into its fleet to deliver snacks, candy, and beverages to its customers. The partnership also includes a potential agreement for 15 200kW FCEVs and an option for an additional 30 FCEVs.
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The introduction of four hydrogen fuel cell electric vehicles (FCEVs) by Hyzon Motors to Performance Food Group's fleet represents a notable advancement in the adoption of clean energy transportation within the logistics and distribution sector. As companies increasingly prioritize sustainability, the integration of FCEVs could be a harbinger for industry-wide shifts towards lower-emission vehicle technologies. This transition may influence fuel supply chains, encourage infrastructure development for hydrogen refueling and potentially alter competitive dynamics among transportation and logistics providers.

From a market perspective, Hyzon's ability to deliver these vehicles and their collaboration with PFG could serve as a proof of concept, potentially increasing investor confidence in the viability of hydrogen technology in commercial settings. This could have implications for the stock performance of companies like Hyzon, which are at the forefront of hydrogen FCEV technology. Moreover, the partnership with Pilot Travel Centers LLC for hydrogen fueling solutions highlights the growing ecosystem for hydrogen infrastructure, which could stimulate further investment and development in this space.

The deployment of FCEVs by PFG aligns with California's aggressive climate policies and decarbonization targets. This move reflects a broader trend of businesses adapting to regulatory pressures and societal expectations regarding environmental stewardship. The operational benefits of FCEVs, such as reduced noise pollution and zero tailpipe emissions, directly contribute to improving air quality and reducing greenhouse gas emissions, which is particularly significant in a state that has struggled with air pollution.

For stakeholders, including local communities and policymakers, PFG's initiative may serve as a model for how private-sector actions can support public environmental goals. Additionally, such developments could influence future legislation, potentially leading to incentives for adopting clean energy solutions or penalties for continued reliance on fossil fuels, which would have economic implications for businesses across various sectors.

Comparing the operational characteristics of FCEVs with traditional diesel and battery electric vehicles (BEVs) provides insight into the strategic considerations of companies like PFG. The payload, range and refueling time advantages of FCEVs are critical factors for heavy-duty and long-haul transportation. While BEVs are gaining traction in the market, the weight disadvantage and longer charging times present challenges for certain commercial applications.

The successful demonstration of Hyzon's FCEV covering a 540-mile route in high-temperature conditions showcases the robustness of this technology. If the upcoming trials of the next-generation 200kW FCEVs prove successful, it could lead to a larger-scale adoption and set a precedent in the industry. This might accelerate research and development efforts and could lead to more rapid advancements in hydrogen fuel cell technology, potentially impacting the competitive landscape of the automotive industry.

Four Hydrogen Trucks to Hit the Road in Southern California as Part of Performance Food Group’s Decarbonization Efforts

FONTANA, Calif.--(BUSINESS WIRE)-- Hyzon Motors Inc. (Hyzon) (NASDAQ: HYZN), a leading hydrogen fuel cell technology developer and global supplier of zero-emission heavy-duty fuel cell electric vehicles (FCEVs), today announced that it delivered four FCEVs to leading food distributor and supplier Performance Food Group (PFG) (NYSE: PFGC), in a joint ceremony. The event, held at PFG’s Vistar facility in Fontana, was attended by local government leaders, company leaders, and PFG associates, and showcased the new FCEVs by offering ride along demonstrations.

Leaders from Performance Food Group (PFG) and Hyzon celebrate the delivery of four fuel cell electric vehicles (FCEVs) in Fontana, CA today. Left to Right: Pat Griffin, Hyzon North America President; Dr. Bappa Banerjee, Hyzon Chief Operating Officer; Jeff Williamson, Senior Vice President, Operations, Performance Food Group; Parker Meeks, Hyzon Chief Executive Officer; Jesse Armendarez, 2nd District, San Bernardino County Supervisor (Photo: Business Wire)

Leaders from Performance Food Group (PFG) and Hyzon celebrate the delivery of four fuel cell electric vehicles (FCEVs) in Fontana, CA today. Left to Right: Pat Griffin, Hyzon North America President; Dr. Bappa Banerjee, Hyzon Chief Operating Officer; Jeff Williamson, Senior Vice President, Operations, Performance Food Group; Parker Meeks, Hyzon Chief Executive Officer; Jesse Armendarez, 2nd District, San Bernardino County Supervisor (Photo: Business Wire)

“Putting these zero-emission trucks on the road marks an important step toward decarbonization goals shared by PFG, Hyzon and the state of California,” said Parker Meeks, Chief Executive Officer of Hyzon. “Our fuel cell technology will help Vistar’s heavy-duty trucking operations operate emission free and with reduced noise pollution. We are deeply grateful for our partnership with PFG, as it helps to further our collective goals to reduce carbon emissions from heavy-duty trucking.”

Meeks added, “The deployment of these vehicles is a major milestone for Hyzon’s industry leading technology, and through this partnership we expect to gain valuable insight through real-world operations. Further, we expect that this intelligence will help us to optimize our technology, while working simultaneously to develop the next-generation 200kW fuel cell system.”

Hyzon’s hydrogen FCEVs have an expected travel range of up to 350 miles today and an expected refueling time of fifteen minutes with fast fill dispensing. PFG plans to insert the vehicles into its fleet and put them in service to deliver snacks, candy, and beverages to its customers. The vehicles will be fueled with hydrogen delivered by Pilot Travel Centers LLC, a leading fuel and energy provider with the largest network of travel centers in North America.

The delivery comes six months after Hyzon and PFG initially announced their fuel cell electric vehicle agreement. Hyzon is one of the first companies to deliver a heavy-duty fuel cell electric truck, also referred to as tractors, in the U.S.

“Food distribution is an essential service and critical to the companies and communities we serve. As we look towards the future, it’s important for us to work towards sustainability goals and improve our transportation infrastructure,” said Jeff Williamson, Senior Vice President, Operations, PFG. “At PFG, we remain dedicated to reducing our environmental footprint and serving the Southern California region responsibly. We’re excited to have partners like Hyzon as we continue to demonstrate our commitment to being a good neighbor to every community we serve.”

Zero-emission, hydrogen fuel cell vehicles offer similar benefits and convenience as diesel fuel trucks without the harmful emissions that worsen air quality and have negative environmental impacts. Additionally, FCEVs have numerous advantages over battery electric vehicles (BEVs) in terms of payload, range, and refueling time. FCEVs are expected to be around 6,000-8,000 pounds lighter than BEVs, have a longer range, and can be refueled in as little as 15-20 minutes compared to up to three hours for BEV. These factors make FCEVs a natural choice for distribution and heavy-duty freight companies.

Vistar’s southern California office is located in Fontana, a suburb of San Bernardino with more than 200,000 residents and hundreds of businesses that depend on the company’s food and beverage distribution services. The company has been at the forefront of transitioning away from diesel to reduce the amount of harmful emissions being spread nationwide. Last August, PFG and Hyzon announced the successful completion of a landmark demo of Hyzon’s Liquid Hydrogen FCEV through Temple, TX, where the truck demonstrated its ability to deliver commercial loads on a 16-hour continuous route covering more than 540 miles and including temperatures above 100-degrees Fahrenheit.

With the delivery of these vehicles and subject to a successful trial with Hyzon’s next generation 200kW FCEV as previously announced, Hyzon and PFG intend to work together on an agreement for 15 200kW FCEVs and an option for an additional 30 FCEVs.

About Hyzon

Hyzon Motors is a global supplier of high-power fuel cell technology focused on integrating its solutions into zero-emission heavy-duty fuel cell electric vehicles. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks to customers in North America, Europe, Australia, and New Zealand to mitigate emissions from diesel transportation - one of the single largest sources of global carbon emissions. Hyzon collaborates with partners across the hydrogen value chain to bring clean hydrogen to the market to support fuel cell vehicle deployments. Hyzon is contributing to the adoption of commercial fuel cell electric vehicles through its demonstrated technology advantage, fuel cell performance and innovation. Visit www.hyzonmotors.com.

About Performance Food Group Company

Performance Food Group is an industry leader and one of the largest food and foodservice distribution companies in North America with more than 150 locations in North America. Founded and headquartered in Richmond, Virginia, PFG, and our family of companies, market and deliver quality food and related products to 300,000+ locations including independent and chain restaurants; businesses, schools and healthcare facilities; vending and office coffee service distributors; and big box retailers, theaters and convenience stores. PFG’s success as a Fortune 100 company is achieved through our more than 35,000 dedicated associates committed to building strong relationships with the valued customers, suppliers and communities we serve. To learn more about PFG, visit pfgc.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 “aim,” “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 the estimated performance and development of the hydrogen FCEVs and PFG’s plans for the delivered trucks 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" sections of Hyzon's Form 10-K for the year ended December 31, 2022 filed with the SEC on May 31, 2023, its Form 10-Q for the quarter ended September 30, 2023 filed on November 14, 2023, and in 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 or vehicle trial agreements 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, Inc. Contacts

For media inquiries:

Hyzon@teamavoq.com

For investors:

ir@hyzonmotors.com

Performance Food Group, Inc. Contacts

For media inquiries:

scott.golden@pfgc.com

For investors:

bill.marshall@pfgc.com

Source: Performance Food Group Company

FAQ

What is the expected travel range of Hyzon's hydrogen FCEVs?

The expected travel range of Hyzon's hydrogen FCEVs is up to 350 miles.

What is the expected refueling time for Hyzon's hydrogen FCEVs?

The expected refueling time for Hyzon's hydrogen FCEVs is fifteen minutes with fast-fill dispensing.

What are the plans for the vehicles delivered to PFG?

PFG plans to insert the vehicles into its fleet to deliver snacks, candy, and beverages to its customers.

What is the potential agreement between Hyzon and PFG?

The potential agreement includes 15 200kW FCEVs and an option for an additional 30 FCEVs.

Where is Vistar's southern California office located?

Vistar's southern California office is located in Fontana, a suburb of San Bernardino with more than 200,000 residents and hundreds of businesses.

What was announced last August between PFG and Hyzon?

Last August, PFG and Hyzon announced the successful completion of a landmark demo of Hyzon’s Liquid Hydrogen FCEV through Temple, TX.

What are the advantages of FCEVs over BEVs?

FCEVs are expected to be around 6,000-8,000 pounds lighter than BEVs, have a longer range, and can be refueled in as little as 15-20 minutes compared to up to three hours for BEV.

Who is the Chief Executive Officer of Hyzon?

The Chief Executive Officer of Hyzon is Parker Meeks.

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