ROCHESTER, N.Y., April 11, 2022 /PRNewswire/ -- Hyzon Motors Inc.
(NASDAQ: HYZN) today announced it will supply its fuel cell
electric trucks to Hylane GmbH, a wholly owned subsidiary of DEVK
Versicherung, one of Germany's
largest motor insurers. Hylane has purchased 18 Hyzon vehicles,
with deliveries expected to begin in late 2022.
Under Hylane's sustainable mobility model, fleet owners can
deploy Hyzon vehicles in their operations through a rental
agreement with Hylane. Further, it is expected that customers will
only pay for the miles actually driven; Hylane plans to cover
maintenance or downtime costs. Through this pay-per-use approach,
Hylane expects to minimize the risk for customers while
accelerating the rate at which zero-emission vehicles replace
Hylane has already confirmed rental contracts for the first
vehicles and is in talks with numerous prominent transport
companies interested in transitioning their fleets to zero-emission
options. Germany is expected to be
one of the major global markets for zero emission commercial
vehicle technologies in the coming years. The engine room of EU
economic activity, Germany
recently announced support for a total ban on sales of combustion
engine cars from 2035, and there are already significant domestic
incentives in place to transition heavy vehicles off diesel.
To support its exclusive focus on climate-friendly transport
solutions, Hylane is aligning key elements within the value chain,
including energy producers, refuelling infrastructure providers,
and government subsidy programs. Through the coordinated management
of these resources, Hylane aims to provide sustainable and flexible
mobility management to its customers.
"Hyzon's singular mission is to decarbonize transport through
zero-emission, hydrogen-powered vehicles," said Craig Knight, Hyzon CEO and co-founder. "Through
Hylane's sustainable mobility program, customers across
Germany can experience first-hand
the vehicle performance, driver satisfaction, and emissions
reductions of Hyzon's fuel cell electric trucks."
"Hyzon recognizes that, as with any new technology, customers
need the chance to utilize our fuel cell electric vehicle in their
regular operations. From past experience, we are confident that
once fleet owners have experienced our vehicles, they will be
motivated to hasten their transition to zero-emissions. Having a
strong partner in the German market has the opportunity to fuel
significant long-term growth for Hyzon."
About Hyzon Motors Inc.
Headquartered in Rochester, N.Y., with U.S. operations in the
Chicago and Detroit areas, and international operations in
the Netherlands, Singapore, Australia, Germany, and China, Hyzon is a leader in fuel cell electric
mobility with an exclusive focus on the commercial vehicle market,
and a near-term focus on back to base (captive fleet) operations.
Utilizing its proven and proprietary 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 to
mitigate emissions from diesel transportation, one of the single
largest sources of carbon emissions globally. Hyzon is contributing
to the escalating adoption of fuel cell electric vehicles through
its demonstrated technology advantage, leading fuel cell
performance and history of rapid innovation. Visit
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 "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 which include, but are not limited to,
expected demand for and sales of Hyzon vechicles, 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" section of Hyzon's
Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities
and Exchange Commission (the "SEC") on March
30, 2022, our Amended Registration Statement on Form S-1
filed with the SEC on April 6, 2021, and 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. Hyzon gives no assurance
that Hyzon will achieve its expectations.