ROCHESTER, N.Y., July 12, 2021 /PRNewswire/ -- Hyzon Motors Inc.
announced today it has signed a memorandum of understanding (MoU)
with TotalEnergies (NYSE: TTE) through its Marketing & Services
division. The MoU reinforces the two companies' shared commitment
to evaluate and develop hydrogen refueling and vehicle supply
solutions for long-haul transport to customers across Europe.
Hyzon and TotalEnergies aim to make it easier for fleet owners
to transition to renewable hydrogen fuel by combining their
existing infrastructure and technology. TotalEnergies, which
operates over 15,500 service stations globally, and Hyzon, a
leading supplier of hydrogen fuel cell-powered trucks, already have
hydrogen refueling stations and hydrogen-powered vehicles in
operation, respectively.
This MoU strengthens the existing commercial relationship
between one of the world's largest energy companies and a leading
supplier of hydrogen commercial vehicles. TotalEnergies previously
made a direct investment in Hyzon through its venture arm,
TotalEnergies Ventures in 2020, to help fund the buildout of
Hyzon's manufacturing and engineering centers in the United States, Europe and China.
TotalEnergies is also a member of the Hyzon Zero Carbon
Alliance, a consortium dedicated to accelerating the global
development of the hydrogen ecosystem.
A first concrete operational step is the announcement of the
signature of an additional MoU between Hyzon and TotalEnergies,
this time through its French affiliate TotalEnergies Marketing
France, which oversees its service-stations network and new
mobilities solutions in France.
Under this second MoU, the companies will collaborate on developing
ecosystems and will secure by 2023 the production of 80 hydrogen
fuel cell-powered trucks for TotalEnergies' French customers.
Starting from trials, Hyzon aims to eventually be able to supply
customers with a hydrogen fuel cell truck at total cost of
ownership (TCO) parity with diesel-powered commercial vehicles
in Europe.
"At TotalEnergies, we are convinced that hydrogen is a mobility
solution of the future. That is why TotalEnergies Ventures
previously invested in Hyzon Motors," said John Wilson, vice president, Gas Mobility at the
Marketing & Services division of TotalEnergies. "The
anouncement today takes that relationship further, giving the
company leverage to expand the reach of hydrogen in the commercial
vehicle market in Europe. To
achieve our climate ambition of net zero emissions by 2050,
together with society, hydrogen fuel cell-powered trucks must come
to market. We are therefore excited about this partnership with
Hyzon."
TotalEnergies is a broad energy company active in more than 130
countries with more than 105,000 employees. The company produces
and markets energies on a global scale: oil and biofuels, natural
gas and green gases, renewables and electricity.
"It's rare to find a company as committed to the energy
transition as Hyzon – but we've found that in TotalEnergies. While
this is another important development in our relationship, we don't
expect it to be the last," Craig
Knight, CEO of Hyzon said. "Hydrogen will play a significant
role in decarbonizing transport and we look forward to working with
one of the world's leading energy companies to deploy hydrogen
solutions at scale across Europe.
Their relationships, customer base and current infrastructure are a
huge asset as we aim to make it as easy as possible for fleet
owners to make the switch to hydrogen."
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 TotalEnergies SE
TotalEnergies is a broad energy
company that produces and markets energies on a global scale: oil
and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is
ever more affordable, clean, reliable and accessible to as many
people as possible. Active in more than 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
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.
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
TotalEnergies Media Relations:
presse@totalenergies.com
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SOURCE HYZON Motors
