- With CARB certification, Hyzon will be among the first
commercial providers of fuel cell electric heavy- and medium-duty
trucks in California
ROCHESTER, N.Y., June 7, 2022 /PRNewswire/ -- Hyzon Motors
(NASDAQ: HYZN), a global supplier of zero-emissions hydrogen and
fuel cell powered commercial vehicles, announced that the
California Air Resources Board (CARB) has certified its Class 8, 7,
and 6 Repowers as exempt from emission requirements, enabling the
company to sell fuel cell electric trucks in California. Hyzon's Repower program allows
customers to exchange their used diesel trucks for conversion to
fuel cell electric using Hyzon's proprietary fuel cell
technology.
With this certification, Hyzon expects it will offer the first
commercially available repowered Class 8, Class 7 and Class 6 FCEVs
in California. While FCEVs have
been granted provisional approvals for trials, and fuel cell
electric buses have received CARB certification, no known heavy- or
medium-duty FCEVs are currently available, based on the list
provided by California's Hybrid
and Zero-Emission Truck and Bus Voucher Incentive Project
(HVIP).
HVIP, an incentive program administered by national clean
transportation consortium CALSTART, provides subsidies to reduce
the incremental cost of clean commercial vehicles. CARB
certification is the primary requirement to secure HVIP eligibility
in California. Hyzon expects to
qualify for the incentive program later this year.
"We are proud to join the list of vehicle and technology
providers certified by CARB as zero-emission, and plan to lead the
deployment of fuel cell electric trucks in commercial operations in
California," said Craig Knight, Hyzon Motors CEO. "Our technology
has already proven itself in daily runs at the Port of Long Beach, and we look forward to putting
more clean trucks on the road. Drayage operations are a
particularly attractive use-case on hydrogen, and we expect to see
rapid uptake in California."
Repowering vehicles is expected to be a more time and capital
efficient approach for fleets to decouple from diesel, given 16+
month lead time for new diesel trucks. Repowering an existing
vehicle is also expected to reduce customer costs, leading to Total
Cost of Ownership (TCO) at or below diesel parity in California, thanks to subsidies. Additionally,
the Repower program avoids waste and manufacturing carbon emissions
generated by asset renewal.
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 www.hyzonmotors.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 "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 vehicles and the pace of
adoption of hydrogen fuel cell electric vehicles, the timetable for
offering repowered Class 8, Class 7 and Class 6 FCEVs in
California, the timetable to secure HVIP eligibility,
expectations for demand for FCEV in California, expectations that repowering
vehicles is more time and capital efficient approach for fleets
than purchases of diesel vehicles, and beliefs dealing with
CARB-approved Class 8 vehicles, 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.
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