Company's ongoing trial program reinforces
commitment to decarbonizing heavy-duty industries
BOLINGBROOK, Ill., Nov. 4, 2024
/PRNewswire/ -- Hyzon (NASDAQ: HYZN), a U.S.-based
high-performance hydrogen fuel cell system manufacturer and
technology developer focused on providing zero-emission power to
decarbonize the most demanding industries, today announced the
completion of a successful trial of its Class 8 200kW Fuel Cell
Electric Vehicle (FCEV) with IMC Logistics, the largest container
drayage company in the U.S. The two-week trial performance is the
latest in a series of trials across Hyzon's Class 8 200kW and
refuse FCEV truck platforms, all of which have been deemed
successful to date.
"The success of this trial with IMC is in line with the
impressive outcomes we've seen across the other trials of our Class
8 200kW Fuel Cell Electric Vehicle (FCEV) truck," said Hyzon Chief
Executive Officer (CEO) Parker
Meeks. "These consistent outcomes reinforce our confidence
as we move toward full commercial activation, marking an exciting
step forward in deploying hydrogen fuel cell solutions at scale,"
added Meeks.
IMC Logistics tested the Hyzon truck throughout the local
Houston market, driving more than
1,000 miles in the two-week trial. IMC's trial is a proactive step
in exploring hydrogen fuel cell performance in their fleet in the
state of Texas.
"We put the truck through a rigorous trial, and it performed
well, with positive feedback from drivers, said Will Connell, IMC Logistics Gulf Region
President. "Our company already has the largest deployment of
hydrogen vehicles in the nation and in support of our ongoing
commitment to sustainability, IMC is eager to review new
technologies that would enable us to expand where we can service
our customers with environmentally friendly solutions for their
supply chain," he added.
According to Meeks, the IMC Class 8 200kW FCEV trial highlights
Hyzon's commitment to innovation and excellence in the hydrogen
fuel cell industry.
Inclusive of the IMC trial, Hyzon has completed eight trials,
all deemed successful, of its 200kW Class 8 and refuse truck
platforms since July 2024, moving to
commercial activation as trials complete. Hyzon's ongoing
trial program has more than 20 large fleet trials across both truck
platforms planned through February
2025.
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 is focusing on deploying its fuel cell
technology in heavy-duty commercial vehicles in Class 8 and refuse
collection vehicles across North
America, as well as new markets such as stationary power
applications. 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, but are not limited to, express or implied forward-looking
statements regarding 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; its ability to achieve and maintain manufacturing
volume targets; it receiving ISO certification; its 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.
About IMC
IMC Logistics is the largest marine drayage company in
the United States. Equipped with
the largest fleet of trucks and chassis, an integrated network of
secure depots, and transloading facilities, IMC moves cargo to and
from all major rails and ports in the nation. For 42 years, IMC has
focused on delivering innovative solutions to its valued clients.
To learn more, visit www.imcc.com.
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SOURCE Hyzon