ROCHESTER, N.Y., June 23,
2022 /PRNewswire/ -- Hyzon Motors (NASDAQ: HYZN) is
teaming up with Schlumberger Limited (NYSE: SLB) to reduce
emissions in upstream oil & gas operations with power generated
by its heavy duty fuel cell systems.
Hyzon, a global supplier of zero-emissions hydrogen-powered and
fuel cell electric commercial vehicles, announced today a joint
development agreement (JDA) with Schlumberger, the world's leading
provider of technology to the global energy industry.
Under the JDA, Hyzon will utilize its expertise in engineering
and manufacturing high-power fuel cell systems for heavy-duty
commercial mobility to co-develop zero-emissions fuel cell power
generation solutions initially for North American oil & gas
well construction for land drilling rigs, with opportunities for
collaboration into other field operations in the broader oil &
gas market. Hyzon's technology is intended to be integrated into
Schlumberger's portfolio of Intelligent Power Management solutions
and powered by Hyzon. Currently in the initial phase of the JDA,
the companies expect to demonstrate the first fuel cell power
module in oil & gas field operations as early as Q4 of 2022,
starting with powering an onshore drilling rig application.
Under the JDA, Schlumberger will also provide customer
validation opportunities and will lead the anticipated
commercialization of the product to existing and new customers. As
an initial step, Schlumberger has already executed a Memorandum of
Understanding (MoU) to integrate the fuel cell solution in Ensign
Energy Services Inc. drilling operations within the next
twelve months.
The Intelligent Power Management solution that Hyzon's fuel
cells will power is a direct replacement for the typical 4.0 MW of
available diesel generators that power an oil & gas drilling
rig today, meeting the same horsepower and footprint specifications
of a 1.0 MW diesel generator on a high-spec North American land
rig. A drilling rig powered completely by hydrogen fuel cell
systems is projected to consume ~2.5 tons per day of hydrogen,
which when fueled by zero carbon intensity hydrogen would eliminate
10,000 tons per year of CO2.
The versatility of hydrogen enables oilfield service companies
and operators to use transportable fuel cell power solutions in a
wide range of applications: to power entire drilling rigs, generate
useful heat, fuel fleets for long-haul, heavy-duty transport, and
more – all with zero emissions at the point of use. The solution
will also be evaluated for deployment in many other
hard-to-decarbonize power use cases such as remote industrial
operations and critical grid and operations power supply.
"Hyzon's fuel cell technology was purpose-built to withstand the
challenges of heavy duty trucking; the durability, performance, and
power required for that application provide the foundation for fuel
cells to power Schlumberger's oil & gas field operations," said
Parker Meeks, Chief Strategy
Officer, Hyzon Motors. "Hyzon's proprietary fuel cell technology
and manufacturing facilities allow us to adapt our current fuel
cell offering to this new application, the first of many
possibilities for high-durability, transportable power
generation."
Another anticipated benefit of the fuel cell power systems to
well construction operations is elimination of generator noise,
vibration, and maintenance. With dependable, clean, quiet power
production at the rig site, operators can minimize downtime while
ensuring enhanced health and safety performance for people and the
environment. This technology is ideal to enable drilling in areas
that are restricted today due to diesel emissions and/or diesel
generator noise levels, both of which would be mitigated with a
hydrogen fuel cell power solution.
"Building a lower-carbon future while meeting the ever-growing
demand for energy requires unprecedented accountability, newfound
operational efficiencies, and early investment in promising
technologies," said Brian Winter,
Product Manager for Rig Equipment, Schlumberger. "Schlumberger is
excited to pilot Hyzon's hydrogen fuel cell systems to power rigs
and enable rapid drilling decarbonization today."
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 fuel cell powered solutions and the pace of adoption of such
solutions, and 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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SOURCE Hyzon Motors Inc.