HYZNW - Hyzon furthers expansion into mining sector in partnership with ITOCHU

Hyzon Motors (HYZN +1.9%) partners with ITOCHU Corporation (OTCPK:ITOCY) to pursue commercial hydrogen opportunities targeting the mineral and metal industry. Under the non-binding MoU, the companies are expected to jointly develop hydrogen supply chain strategies as well as model customer projects for the deployment of Hyzon fuel cell vehicles and fuel cell technology in the mining sector. The collaboration marries the companies' complementary expertise: ITOCHU brings long-standing relationships with mining companies globally, while Hyzon provides extensive experience developing and deploying fuel cell electric vehicles and hydrogen solutions for large commercial vehicles and industrial equipment. Hyzon believes that the mining industry is uniquely suited to hydrogen applications due to operations often running 24 hours per day, which would be disrupted by electric battery recharging if that route was used. Within the mining sector, the companies will pursue opportunities in several verticals, including steel making, metal smelting, and refining.

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Hyzon furthers expansion into mining sector in partnership with ITOCHU