ROCHESTER, N.Y., July 9, 2021 /PRNewswire/ -- Hyzon Motors
Inc. announced today the signing of a Heads of Agreement targeting
delivery of five hydrogen fuel cell-powered trucks to Ark Energy
Corporation, the Australian subsidiary of the world's largest zinc,
lead and silver producer, Korea Zinc Ltd.
Hyzon, a leading global supplier of zero-emission hydrogen fuel
cell-powered commercial vehicles, expects, subject to execution of
a definitive vehicle supply agreement, to deliver five 154-ton
hydrogen trucks to be used in road train configurations to Ark
Energy for use by sister company Townsville Logistics. By replacing
their diesel equivalents, these trucks are expected to reduce C02
emissions by over 1,400 tons per year.
This is the second announced interest in Hyzon's 154-ton class
ultra-heavy-duty trucks, received within weeks of the first
Memorandum of Understanding (MoU) with a European customer. As the
world's first and the only ultra-heavy-duty hydrogen truck, the
Hyzon 154-ton class hydrogen truck is winning market momentum.
"When we scoured the world for fuel cell trucks, we found that
Hyzon Motors was the only hydrogen mobility company that could
manufacture fuel cells stacks with a sufficient power density to
meet our requirements including the ultra-heavy payload and built
to Australian Design Rules," said Ark Energy CEO Daniel Kim. "In addition, Hyzon Motors was the
only OEM that was interested in supplying the Australian market in
the next 18 months."
The trucks are expected to be fueled by Ark Energy's own
hydrogen refilling station, with hydrogen produced through a solar
farm and electrolyzer. By generating hydrogen from a renewable
energy source, Hyzon and Ark Energy aim to create a green solution
for both supply and utilization, enabling the first refinery to
produce green zinc.
As part of this commitment, Ark Energy has also joined the Hyzon
Zero Carbon Alliance as a founding member. The alliance, a
consortium of companies that operate along all points of the
hydrogen value chain, aligns experience and expertise to accelerate
the transition to a zero-emissions reality.
"Through Ark Energy, Korea Zinc leads this notoriously
hard-to-abate sector – demonstrating that decarbonization can
happen now," said Craig Knight, CEO
of Hyzon. "This initial order and Ark Energy's hydrogen hub lays
the foundation for an emissions-free future."
About Hyzon Motors Inc.
Headquartered in
Rochester, N.Y., with U.S.
operations also in Chicago and
Detroit, and international
operations in the Netherlands,
Singapore, Australia and China, Hyzon is a leader in hydrogen mobility.
Hyzon is a pure-play hydrogen mobility company with an exclusive
focus on hydrogen in the commercial vehicle market. 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. The company is
contributing to the escalating adoption of hydrogen vehicles
through its demonstrated technology advantage, leading fuel cell
performance and history of rapid innovation.
Visit www.hyzonmotors.com.
About Ark Energy Corporation
Ark Energy Corporation
Pty Ltd is an Australian subsidiary of Korea Zinc Company Ltd,
which is the largest zinc, lead and silver producer in the world.
Ark Energy's mandate is to decarbonize the energy supply of the
Korea Zinc group starting with the Sun Metals zinc refinery in
Townsville as it aims to become the first refinery in the world to
produce green zinc. Ark Energy will leverage and expand on the
group's existing investments across the hydrogen value chain to
become the safest and most competitive producer of green hydrogen
in the world as well as an extreme user and demand creator of
hydrogen.
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, including those regarding Decarbonization Plus
Acquisition Corporation's ("DCRB") proposed acquisition of Hyzon
and DCRB's ability to consummate the transaction, 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 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, DCRB and
Hyzon disclaim 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. DCRB and Hyzon caution 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 either DCRB or Hyzon, including
risks and uncertainties described in the "Risk Factors" section of
Exhibit 99.3 of DCRB's Current Report on Form 8-K filed with the
U.S. Securities and Exchange Commission (the "SEC") on Feb. 9, 2021, the "Risk Factors" section of
DCRB's definitive proxy statement on Schedule 14A filed with the
SEC on June 21, 2021, and other
documents filed by DCRB 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,
such as risks related to the ability to convert non-binding
memoranda of understanding into binding orders or sales (including
because of the current or prospective financial resources of the
counterparties to Hyzon's non-binding memoranda of understanding
and letters of intent), or the ability to identify additional
potential customers and convert them to paying customers. Hyzon
gives no assurance that Hyzon will achieve its expectations.
Important Information for Investors and Stockholders
In connection with the proposed business combination, DCRB filed a
proxy statement and other relevant documents with the SEC.
Stockholders and other interested persons are urged to read the
proxy statement and any other relevant documents filed with the SEC
because they contain important information about DCRB, Hyzon and
the proposed business combination. Stockholders may obtain a free
copy of the proxy statement, as well as other filings containing
information about DCRB, Hyzon and the proposed business
combination, without charge, at the SEC's website at
www.sec.gov.
Participants in the Solicitation
DCRB, Hyzon and
their directors and executive officers and other persons may be
deemed to be participants in the solicitations of proxies from
DCRB's stockholders in respect of the proposed business combination
and the other matters set forth in the proxy statement. Information
regarding DCRB's directors and executive officers is available in
DCRB's Annual Report on Form 10-K for the annual period ended
Dec. 31, 2020, and under the heading
"Information About DCRB" in DCRB's definitive proxy statement
related to the proposed business combination filed with the SEC on
June 21, 2021. Additional information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, is set forth in the proxy statement relating
to the proposed business combination.
Media contacts
Hyzon Motors'
contacts
For U.S., Europe and Asia media:
Caroline Curran
Hill+Knowlton Strategies
+1 256-653-5811
caroline.curran@hkstrategies.com
For Australasian media:
Fraser Beattie
Cannings Purple
+61 421 505 557
fbeattie@canningspurple.com.au
For investors:
Caldwell Bailey
ICR, Inc.
HyzonMotorsIR@icrinc.com
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SOURCE HYZON Motors
