ROCHESTER, N.Y. and
SYDNEY, July 14, 2021 /PRNewswire/ -- Hyzon Motors
Inc., a leading global supplier of zero-emission hydrogen fuel
cell-powered heavy vehicles, today announced that its Australian
subsidiary has signed a definitive vehicle supply agreement with
Australian industrial gases company Coregas Pty Limited, a
wholly-owned subsidiary of notable Australian Securities
Exchange-listed conglomerate Wesfarmers (ASX:WES), to deliver two
hydrogen fuel cell-powered prime movers to New South Wales, Australia.
This comes ahead of Hyzon's public listing via a proposed
business combination with Decarbonization Plus Acquisition
Corporation (NASDAQ: DCRB).
The Hyzon Hymax-450 prime movers are expected to be delivered in
the first half of 2022 and to mark the first hydrogen-powered heavy
vehicles to operate in Australia.
The prime movers should be immediately deployed upon arrival
from Hyzon's manufacturing facility in the Netherlands, integrating with Coregas'
existing diesel fleet and transporting speciality gases, including
hydrogen, to Coregas customers in Sydney and wider New
South Wales. Decarbonization opportunities will be immediate
with the project expected to deliver emissions reductions of 50% in
comparison with trucks currently in use.
Coregas, a Wesfarmers company, is a leader in industrial gases
with a 40-year history in the generation and distribution of
industrial gases, including operating Australia's largest merchant hydrogen plant in
Port Kembla, which supplies customers across various sectors
including manufacturing and mobility. Coregas is actively pursuing
hydrogen as an energy source through participation in projects
aimed at accelerating the energy transition across Australia.
Coregas is also in the process of developing one
of Australia's first commercial
vehicle hydrogen refuelling stations at its Port Kembla
facility to support both the Hyzon hydrogen-powered heavy-duty
vehicles and the refuelling of trucks and buses operated by
third parties.
The project represents a strategic first step in developing a
broader hydrogen ecosystem. Port Kembla and
Illawarra-Shoalhaven are primed to be an epicenter of the
emerging hydrogen sector possessing several advantages to foster
the development of the thriving domestic and export hydrogen
sector.
Hyzon and Coregas are actively pursuing the opportunity to scale
up hydrogen-powered trucking. Both parties are actively
engaging with companies operating in and around the port on the
opportunity to transition to hydrogen and decarbonize heavy vehicle
fleets. Currently, around 7,000 trucks travel between
the region and Sydney each
day.
The New South Wales government
has recently announced a $70 million
package to support the establishment of hydrogen hubs in the state,
with Port Kembla identified as a priority location given its
deep-water port, electricity and gas infrastructure, water
recycling plant, road and rail connections, R&D presence and
sizeable heavy-duty vehicle fleet.
"Hyzon is proud to partner with Coregas in our shared effort to
decarbonize Australia's heavy
trucking industry," said Craig
Knight, CEO and Co-Founder of Hyzon. "This partnership
reflects two truths about the energy transition: first, that the
technology is ready to be deployed now; second, that collaborative
efforts are integral in accelerating this shift. We are excited to
work with Coregas, a progressive company within the Wesfarmers
group, to introduce hydrogen-powered heavy-duty trucks to
Australia."
Coregas is delighted to partner with Hyzon on the first
hydrogen-powered heavy trucks operating in Australia.
"Coregas is working hard to apply our expertise in hydrogen
distribution, compression and storage to Australia's transition to a hydrogen economy,"
said Alan Watkins, Executive General
Manager from Coregas. "Transforming the transport sector is a
critical piece of the puzzle, and we are delighted to partner with
Hyzon to operate these vehicles out of our Hydrogen refueling
station in Port Kembla."
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 Coregas
As a Wesfarmers company, Coregas is the
only Australian-owned gases company. Coregas services a huge range
of industries and has a wealth of experience and knowledge spanning
over 40 years. Coregas manufacture gases locally and distribute
throughout Australia and
New Zealand via a network of
branches and third parties. Products include industrial gases,
medical gases and specialty gases in quantities ranging from single
cylinders to bulk liquid tanks. Coregas is changing the gases
industry around the country, seeking to raise the bar in terms of
service, quality, and value. Coregas believes the best way to grow
the business is to listen to customers and deliver on promises to
them.
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
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
Coregas
Wodek
Jakubik
Coregas
+61 409 227 209
Wodek.Jakubik@coregas.com
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SOURCE HYZON Motors
