HYZN - Hyzon Motors and Woodside announce collaboration for commercial hydrogen production and demand creation opportunities
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Hyzon Motors Inc.(NASDAQ: HYZN), a leading supplier of hydrogen-powered fuel cellelectric vehicles, and Woodside Energy (ASX: WPL), today announced anagreement to collaborate on developing supply of zero carbon intensityhydrogen and building demand from medium- and heavy-duty commercialvehicle customers in the United States and Australia.
Under the agreement, thecompanies will evaluate opportunities to develop green hydrogenproduction facilities (hubs). Initially, the project will focus onliquid hydrogen supply projects to support Hyzon’s future liquidhydrogen onboard mobility use cases - including ultra-longrange trucks already under development , and aviation, marine andrail applications.
“By partnering with Woodside to develop liquid hydrogensupply, Hyzon furthers its goal of decarbonizing heavy transport byreducing the infrastructure development requirements which currentlyhinder long-range trucks from converting to hydrogen,” said ParkerMeeks, Hyzon’s Chief Strategy Officer. “This is particularlyrelevant for the Australian market, where freight corridors faceespecially long distances between refueling, as well as forcoast-to-coast trucking in the US.”
The hydrogen hubs will be developed and located toserve existing and potential demand for Hyzon ultra-long-range trucksand future high energy usage mobility use cases, thus creating ahighly utilized and efficient hydrogen ecosystem. The companies willcollaborate in assessing and developing customer demand for fleetconversions, in addition to usage in Woodside and its affiliates’operations internationally.
For Woodside, Australia’s leading natural gasproducer, the partnership with Hyzon supports its strategy tocomplement its established LNG business with new energy projects thatare cost-competitive and scalable with customer demand. Woodsidehas announced plans to establish a hydrogen production facility inOklahoma and is progressing land acquisition opportunities aligned togrowth markets in the US. Hyzon supports this development by providingaccess to hydrogen off-take through its heavy-duty vehiclecustomers.
“Ourcollaboration with Hyzon supports Woodside’s strategy to developlower-carbon energy products and services alongside our existingportfolio of energy assets,” said Shaun Gregory, Woodside ExecutiveVice President Sustainability. “We expect to see large-scalehydrogen production internationally by 2030, and Woodside intends toplay a role in this emerging global industry.”
Both companies aremembers of the Hyzon Zero Carbon Alliance, an initiative of leadingcompanies working to accelerate hydrogen-powered mobility worldwide.The Alliance, which includes members such as TotalEnergies, Bank ofAmerica, and Ark Energy (a subsidiary of Korea Zinc), brings togetheractive participants along the hydrogen-value chain – from productionto technology development, from innovation to investment.
About Hyzon
Hyzon is a global leaderin fuel cell electric mobility, with US operations in the Rochester,Chicago and Detroit areas, and international operations in theNetherlands, China, Singapore, Australia and Germany. Hyzon is anenergy transition accelerator and technology innovator, providingend-to-end solutions primarily for the commercial mobility sector witha focus on the commercial vehicle market and hydrogen supplyinfrastructure. Utilizing its proven and proprietary hydrogen fuelcell technology, Hyzon aims to supply zero-emission heavy duty trucksand buses to customers in North America, Europe and around the worldto mitigate emissions from diesel transportation, which is one of thesingle largest sources of carbon emissions globally. The Company iscontributing to the escalating adoption of fuel cell electric vehiclesthrough its demonstrated technology advantage, leading fuel cellperformance and history of rapid innovation. Visit www.hyzonmotors.com .
Forward-LookingStatements
This press release includes “forward-looking statements”within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, asamended. All statements, other than statements of present orhistorical fact included in this press release, are forward-lookingstatements. When used in this press release, the words “could,”“should,” “will,” “may,” “believe,” “anticipate,”“intend,” “estimate,” “expect,” “project,” thenegative of such terms and other similar expressions are intended toidentify forward-looking statements, although not all forward-lookingstatements contain such identifying words. These forward-lookingstatements, including statements about our 2021 outlook, are based onmanagement’s current expectations and assumptions about futureevents and are based on currently available information as to theoutcome and timing of future events. Except as otherwise required byapplicable law, Hyzon disclaims any duty to update any forward-looking statements, all of which are expressly qualified by thestatements in this section, to reflect events or circumstances afterthe date of this press release. Hyzon cautions you that theseforward-looking statements are subject to numerous risks anduncertainties, most of which are difficult to predict and many ofwhich are beyond the control of Hyzon, including risks anduncertainties described in the “Risk Factors” section of Hyzon’sdefinitive 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 theSEC. These filings identify and address other important risks anduncertainties that could cause actual events and results to differmaterially from those contained in the forward-looking statements,such as risks related to the ability to convert non-binding memorandaof understanding into binding orders or sales (including because ofthe current or prospective financial resources of the counterpartiesto Hyzon’s non-binding memoranda of understanding and letters ofintent), or the ability to identify additional potential customers andconvert them to paying customers. Hyzon gives no assurance that Hyzonwill achieve its expectations.
Media contacts
Hyzon Motors
hyzon@kivvit.com
For investors:
Darla Rivera
Hyzon Motors Inc
IR@hyzonmotors.com
Contact Details
DarlaRivera
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