ROCHESTER, N.Y. and GRONINGEN,
Netherlands, March 31, 2021 /PRNewswire/ -- Hyzon Motors
Inc. ("Hyzon" or "the Company"), a
leading global supplier of zero-emission hydrogen fuel cell-powered
commercial vehicles, today announced it has launched leasing
service for the provision of heavy-duty fuel cell electric vehicles
(FCEVs) to its customers in the European Union.
As announced on February 9, 2021,
Hyzon has entered into a definitive agreement for a business
combination with Decarbonization Plus Acquisition Corporation
(NASDAQ: DCRB, DCRBW, DCRBU), a publicly-traded special
purpose acquisition company (SPAC) that would result in Hyzon
becoming a publicly listed company. Completion of the proposed
transaction is subject to customary closing conditions, and is
expected to occur in the second quarter of 2021.
Through the leasing service, Hyzon intends to enable
potential European Union customers to operate the
Company's branded vehicles through a leasing model,
and to thereby fast-track the transition of their fleets to
hydrogen fuel, without compromising on performance.
Hyzon and its partners have been actively developing complete
end-to-end lifecycle solutions that enable fleet operators to
viably make the transition to hydrogen fuel cell commercial
vehicles. The Company's new lease offering represents the first
step in the development of a holistic fleet leasing offering for
the European market that is expected to include hydrogen fuel,
insurance, service and maintenance for Hyzon and Hyzon-branded
vehicles.
Hyzon Sets Ambition to Achieve TCO Parity in Europe
The Company also announced today that it aims to be among the
first companies to supply customers with a hydrogen fuel cell truck
at total cost of ownership (TCO) parity with diesel-powered
commercial vehicles in Europe.
With its leading fuel cell technology, and incentives available in
Europe, Hyzon expects to help
customers achieve TCO parity through its alliance with multiple
hydrogen infrastructure partners.
Given the momentum behind hydrogen across Europe, this region is anticipated to
lead the roll-out of hydrogen mobility worldwide. As a hydrogen
heavy mobility category leader, Hyzon expects to play a significant
role in the European Union's transition to hydrogen energy, through
its manufacturing base in Groningen, The Netherlands.
Craig Knight, Hyzon's Chief
Executive Officer, said, "We are excited to be able to
offer this leasing service to our customers in Europe, and to support fleet operators in
making the switch to hydrogen. This leasing service aims to offer
the quickest possible pathway for our customers to make the
transition to zero-emission hydrogen fuel cell-powered heavy
vehicles that can go toe-to-toe with diesel engines on both costs
and refueling time."
For customer enquiries on leasing in the EU, please contact
Hyzon Motors European Sales Manager André Lagendijk at
andre.lagendijk@hyzonmotors.com.
About Hyzon Motors Inc.
Headquartered in Rochester, NY and with operations in
Europe, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility.
Hyzon is led by co-founders George
Gu, Craig Knight and
Gary Robb and 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 produce
zero-emission commercial vehicles for customers in North America, Europe, and across 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.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act, and Section 21E of the Securities Exchange Act.
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 the Company 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 the Company 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 the Company 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 the Company,
including risks and uncertainties described in the "Risk Factors"
section of DCRB's Preliminary Proxy Statement on Schedule 14A filed
with the SEC on March 17, 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.
Hyzon gives no assurance that Hyzon will achieve its
expectations.
Hyzon Motors Contacts
For US, Europe and Global
Media:
Brian Brooks
H+K Strategies
713.752.1901
brian.brooks@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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