ROCHESTER, N.Y., June 22, 2021 /PRNewswire/ -- Hyzon Motors Inc.
and its hydrogen fuel cell-powered coaches are ready to conquer the
harsh mining landscape of Western
Australia.
Hyzon, a leading global supplier of zero-emission, hydrogen
fuel-cell vehicles, announced today that its transport coaches
completed a 15,000-kilometer durability road test – a key tryout
before one of the world's largest iron-ore producers uses the
vehicles in the remote Pilbara region.
Fortescue Metals Group has contracted for up to 10 of Hyzon's
custom-built coaches in the Christmas Creek mining hub, where
summer temperatures commonly exceed 110 degrees. The endurance road
test demonstrated the capability, effectiveness and strength of
fuel cell stacks being discharged and recharged repetitively in
harsh conditions.
The Hyzon-Fortescue collaboration is the latest sign of
increasing industrial and commercial transition to hydrogen
mobility and it comes as New
York-based Hyzon readies for a public listing soon on Nasdaq
via business combination with Decarbonization Plus Acquisition
Corp. (NASDAQ: DCRB).
Fortescue expressed interest in Hyzon's proprietary fuel cell
technology using hydrogen gas – for which emissions are limited to
water vapor – to replace a fleet of diesel vehicles for
transporting workers around remote mining sites. The switch is an
integral part of the resource company's plans to reduce emissions,
diversify its energy mix and become carbon neutral by 2030. The
Hyzon coaches for Fortescue will mark the world's first
hydrogen-powered coach fleet.
Hyzon CEO Craig Knight said that
passing the durability phase - the equivalent of driving more than
seven times straight from New York
to Miami - demonstrated anew that
its vehicles are clean, powerful and uniquely suited for long haul
and high utilization back-to-base transport. The coaches have a
range up to 800km before refueling.
"We applaud Fortescue Metals Group for its continued commitment
to a zero-emission future and we look forward to playing a key role
in its transition to hydrogen mobility," Knight said. "The Pilbara
region, one of the most prolific mining areas of Australia and the world, is a harsh landscape.
Our coaches can handle the rugged terrain, and hydrogen technology
can serve as a viable alternative to traditional commercial
mobility in even the toughest parts of the globe."
At current estimates, Australia has about 2,000
coaches, and the Hyzon vehicles will be the first in the country
using hydrogen-powered fuel cell technology. The global coach and
bus market tops $87.5 billion.
About Hyzon Motors Inc.
Headquartered in
Rochester, N.Y., with U.S.
operations also in Chicago and
Detroit, and international
operations in the Netherlands,
Singapore, Australia and China, Hyzon is a leader in hydrogen mobility.
Hyzon is a pure-play hydrogen mobility company with an exclusive
focus on hydrogen in the commercial vehicle market. Utilizing
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. The
company is contributing to the escalating adoption of hydrogen
vehicles through its demonstrated technology advantage, leading
fuel cell performance and history of rapid innovation.
Visit www.hyzonmotors.com.
About Fortescue Metals Group
A proud
West Australian company, Fortescue Metals Group is a global leader
in the iron ore industry, recognised for its culture, innovation and
industry-leading development of world class infrastructure and
mining assets. Underpinned by its strong operating performance and
balance sheet, Fortescue Metals
Group is reinvesting in the business,
returning capital to shareholders and investing in growth. Together
with Fortescue Future Industries, Fortescue Metals Group is focused on supporting the global energy
transition, harnessing the world's renewable energy sources to
produce green hydrogen and develop other green industry
opportunities.
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, including those regarding Decarbonization Plus
Acquisition Corporation's ("DCRB") proposed acquisition of Hyzon
and DCRB's ability to consummate the transaction, 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 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, DCRB and
Hyzon disclaim 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. DCRB and Hyzon caution 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 either DCRB or Hyzon, including
risks and uncertainties described in the "Risk Factors" section of
Exhibit 99.3 of DCRB's Current Report on Form 8-K filed with the
U.S. Securities and Exchange Commission (the "SEC") on February 9, 2021, the "Risk Factors" section of
DCRB's proxy statement on
Schedule 14A filed with the SEC on June 21,
2021, and other documents filed by DCRB 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.
Important Information for Investors and Stockholders
In connection with the proposed business combination, DCRB filed a
proxy statement and other relevant documents with the SEC.
Stockholders and other interested persons are urged to read the
proxy statement and any other relevant documents filed with the SEC
because they contain important information about DCRB, Hyzon and
the proposed business combination. Stockholders may obtain a free
copy of the proxy statement, as well as other filings containing
information about DCRB, Hyzon and the proposed business
combination, without charge, at the SEC's website located at
www.sec.gov.
Participants in the Solicitation
DCRB, Hyzon and
their directors and executive officers and other persons may be
deemed to be participants in the solicitations of proxies from
DCRB's stockholders in respect of the proposed business combination
and the other matters set forth in the proxy statement. Information
regarding DCRB's directors and executive officers is available in
DCRB's Annual Report on Form 10-K for the annual period ended
December 31, 2020, and under the
heading "Information About DCRB" in DCRB's proxy statement related to the proposed
business combination filed with the SEC on June 21, 2021. Additional information regarding
the participants in the proxy solicitation and a description of
their direct and indirect interests, by security holdings or
otherwise, is set forth in the proxy statement relating to the
proposed business combination.
Hyzon Motors contacts
For U.S., Europe and Asia media:
Caroline Curran
Hill+Knowlton Strategies
+1 256-653-5811
caroline.curran@hkstrategies.com
For Australasian media:
Fraser Beattie
Cannings Purple
+61 421 505 557
fbeattie@canningspurple.com.au
For investors:
Caldwell Bailey
ICR, Inc.
HyzonMotorsIR@icrinc.com
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