Companies Embark on Cross-Continental Trials
to Prove Viability of Technology and Showcase Performance
SCRANTON, Iowa, Aug. 12,
2024 /PRNewswire/ -- New Way Trucks, a privately held
industry-leading refuse truck body manufacturer, and Hyzon
(NASDAQ: HYZN), a U.S.-based high-performance hydrogen fuel cell
system manufacturer and technology developer, are leading the way
and gaining momentum in showcasing the value of hydrogen fuel
cell-powered electric refuse collection.
New Way and Hyzon debuted North
America's first hydrogen fuel cell-powered electric refuse
vehicle (FCEV) at Waste Expo in Las
Vegas in May, following an initial announcement earlier this
year on a Joint Development Agreement between the two companies.
New Way's expertise and leadership in refuse collection and Hyzon's
focus on providing zero-emission power to decarbonize the most
demanding industries combine to make hydrogen fuel cell electric
refuse collection a reality for the North American waste and
recycling industry.
Interest in hydrogen-powered collection and customer
demonstrations of this first-of-its-kind refuse truck has grown
significantly since New Way and Hyzon announced its FCEV will be
put to the test on routes in the San
Francisco Bay Area this month. Additional demonstrations
have been scheduled with customers throughout California through the end of the year. The
truck will also head to the Los
Angeles area before making its way to northern California and then with customers across
western Canada into early
2025.
"Refuse collection presents an ideal application to showcase the
viability of hydrogen fuel cell technology across the environmental
services industry," said Eric Evans,
Chief Product Officer for New Way. "Integrating the performance and
functionality of our New Way Sidewinder automated side loader and
the consistent and regenerative power of Hyzon's hydrogen fuel cell
drivetrain offers a lighter weight refuse vehicle with more
payload, compared to battery electric, and similar range and
performance as the diesel and CNG trucks in customers' fleets."
The trials with New Way customers across California and Canada build on the success of Hyzon's fuel
cell electric refuse collection vehicle trials in Australia, demonstrating that hydrogen fuel
cell technology is a viable replacement for traditional heavy duty
diesel engines and overcoming some of the inherent challenges
identified with other zero-emission technologies such as range
issues, fluctuations in operating temperatures and payload
limitations. Additionally, to further prove hydrogen as a more
sustainable option in the refuse industry, Hyzon launched its Class
8 200kW FCEV tractor-trailer trial program last month with major
North American fleet customers which includes waste haulers.
"This momentum and continued interest are evidence that our
Hyzon high-performance hydrogen fuel cells offer the right
technology to provide zero emission power tough enough to perform
the hard work a refuse truck needs to deliver day in and day out,"
said Hyzon Chief Executive Officer Parker
Meeks. "The interest will only increase, and I am excited
for our continued partnership with New Way to change the future and
power a better way forward."
Hyzon's high-performance hydrogen fuel cell systems are tough
enough to provide consistent power over an expected range of at
least 125 miles, including at least 1,200 cart lifts along with
trips to the transfer station. Combine that with the strength and
durability of New Way's most-requested automated side loader – the
Sidewinder XTR™ -- with smooth arm operation, up to a 12-foot reach
and large 6-cubic-yard hopper for an unstoppable, sustainable
refuse collection powerhouse.
"This hydrogen-powered refuse collection vehicle is proof of
what happens when industry and technology experts partner to
innovate together and bring advanced solutions to propel the
industry forward," said Don Ross,
Chief Sales Officer for New Way. "We're in a unique position to be
able to bring more sustainable, alternative power to waste haulers
looking to meet zero emissions goals, decarbonization initiatives
and other clean energy requirements."
About New Way Trucks
New Way Trucks is the largest
privately held refuse collection equipment manufacturer in
North America. New Way's product
lineup features top-performing rear loaders, front loaders and
automated side loaders, including the industry-leading Sidewinder
XTR™, ROTO PAC® with our exclusive self-cleaning auger, and the
small but mighty Wolverine™ – no CDL required. New Way Trucks
engineers and builds advanced, dependable, sustainable refuse
collection products that best meet what waste haulers need, along
with offering top-quality OEM parts and unmatched support and
service through our nationwide distributor network. Visit
www.newwaytrucks.com to learn more.
About Hyzon
Hyzon is a global supplier of
high-performance hydrogen fuel cell technology focused on providing
zero-emission power to decarbonize demanding industries. With
agile, high-power technology designed for heavy-duty applications,
Hyzon is at the center of a new industrial revolution fueled by
hydrogen, an abundant and clean energy source. Hyzon focuses on
deploying its fuel cell technology in heavy-duty commercial
vehicles in Class 8 and refuse vehicles across North America. To learn more about how Hyzon
partners across the hydrogen value chain to accelerate the clean
energy transition, visit www.hyzonfuelcell.com.
Forward-Looking Statements
This press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include
the Company's expectations, hopes, beliefs, intentions or
strategies for the future. You are cautioned that such statements
are not guarantees of future performance and that the Company's
actual results may differ materially from those set forth in the
forward-looking statements. All of these forward-looking statements
are subject to risks and uncertainties that may change at any time.
Factors that could cause the Company's actual expectations to
differ materially from these forward-looking statements include the
Company's ability improve its capital structure; Hyzon's liquidity
needs to operate its business and execute its strategy, and related
use of cash; its ability to raise capital through equity issuances,
asset sales or the incurrence of debt; the possibility that Hyzon
may need to seek bankruptcy protection; Hyzon's ability to fully
execute actions and steps that would be probable of mitigating the
existence of substantial doubt regarding its ability to continue as
a going concern; our ability to enter into any desired strategic
alternative on a timely basis, on acceptable terms; our ability to
maintain the listing of our Common Stock on the Nasdaq Capital
Market; retail and credit market conditions; higher cost of capital
and borrowing costs; impairments; changes in general economic
conditions; and the other factors under the heading "Risk Factors"
set forth in the Company's Annual Report on Form 10-K, as
supplemented by the Company's quarterly reports on Form 10-Q and
current reports on Form 8-K. Such filings are available on our
website or at www.sec.gov. You should not place undue reliance
on these forward-looking statements, which are made only as of the
date hereof. The Company undertakes no obligation to publicly
update or revise forward-looking statements to reflect subsequent
developments, events, or circumstances, except as may be required
under applicable securities laws.
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SOURCE Hyzon