Further Demonstrates Hydrogen Fuel Cell
Technology as a Sustainable, Zero-Emission Solution for Heavy Duty
Applications
BOLINGBROOK, Ill., Nov. 14,
2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN) (Hyzon or
the Company), 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 refuse
collection Fuel Cell Electric Truck (FCET) -- developed in
partnership with New Way Trucks -- with Mt. Diablo Resource
Recovery (MDRR), a leader in sustainable waste and recycling
management.
The trial, which tested the hydrogen-powered vehicle on routes
in parts of California including
Concord, Pittsburg, Oakley, Rio
Vista, and parts of unincorporated Contra Costa, marks a significant milestone in
the adoption of zero-emission technology for heavy-duty
applications in the waste and recycling sector.
The trial further demonstrated hydrogen's effectiveness as a
sustainable, zero-emission alternative to diesel fuel, aligning
with California's Advanced Clean
Fleet requirements and furthering Mt. Diablo Resource Recovery's
commitment to environmental stewardship and innovation.
Additionally, this represented Hyzon's tenth trial since
July 2024 across both of its Class 8
and refuse collection FCETs, all of which have been successful in
meeting or exceeding the expectations set forth by the potential
customer.
"We are proud to partner with Mt. Diablo Resource Recovery in
pioneering the use of hydrogen fuel cell technology for heavy-duty
waste management," said Hyzon Chief Executive Officer (CEO)
Parker Meeks. "This successful trial
showcases the potential for hydrogen to drive meaningful
decarbonization, without sacrificing performance, in challenging
sectors like waste and recycling. We are excited to be driving
forward hydrogen-powered solutions in collaboration with our
customers that deliver both environmental and operational
benefits," added Meeks.
Hyzon's refuse collection FCET is built in partnership between
Hyzon and New Way Trucks, a privately held, industry-leading refuse
truck body manufacturer. The vehicle is North America's first refuse collection
FCET. New Way's expertise and leadership in refuse collection and
Hyzon's focus on providing zero-emission power to decarbonize the
most demanding industries combine to make decarbonized refuse
collection a reality for the North American waste and recycling
industry.
"We are relentless about innovation to transform the way we
manage waste and recycling to maximize our environmental and
financial performance," said Kish Rajan, CEO of Mt. Diablo Resource
Recovery. "This pilot program is yet another example of what sets
MDRR apart."
"Working with Mt. Diablo on
this trial showcases what happens when industry and technology
experts partner to bring innovative, more sustainable solutions to
the industry and propel it forward," said Don Ross, Chief Sales Officer for New Way. "We
are in a unique position to provide alternative power solutions to
waste haulers looking to meet zero emissions goals and
decarbonization initiatives. And we look forward to continuing our
partnership with Hyzon to field more hydrogen fuel cell refuse
collection trucks that will set a new standard for our
industry."
Hyzon's high-performance, hydrogen fuel cell systems
demonstrated consistent power over an expected range of at least
125 miles, including at least 1,300 cart lifts along with trips to
the transfer station, at up to 300% increased fuel efficiency over
traditional diesel trucks. Hyzon's trial program has shown range
that in some route structures projects to over 1,500 cart lifts on
a single fill of hydrogen.
Alongside trials of its industry-leading refuse collection
FCETs, Hyzon is advancing its Class 8 200kW FCET trial program. The
Company remains on track to complete customer trials with over 30
major fleets across both platforms between July 2024 and 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 trucks 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.
About MDRR
Mt. Diablo Resource Recovery serves
customers, communities, and the environment responsibly by
optimizing the use of discarded materials. Today, Mt. Diablo
Resource Recovery serves over 250,000 residents and thousands of
businesses throughout Contra
Costa, Napa, and
Solano Counties. By combining
excellence in customer service with competitive rates and operating
recycling and recovery programs designed to increase sustainability
and reduce greenhouse gas emissions, MDRR is a leader in the
environmental services industry. The company's Material Resource
Facility in Pittsburg, California,
contains the area's largest state-of-the-art recycling processing
center and C+D line to ensure most of the material can be recycled,
reused, and kept out of landfills. We are proud to be Trusted +
Proven + Essential. For more information, please visit
mdrr.com.
About New Way Trucks
New Way Trucks is the largest
privately held refuse collection equipment manufacturer in
North America. New Way's product
lineup features top-performing rear loaders, front loaders and
automated side loaders, including the industry-leading Sidewinder
XTR™, ROTO PAC® with our exclusive self-cleaning auger, and the
small but mighty Wolverine™ – no CDL required. New Way Trucks
engineers and builds advanced, dependable, sustainable refuse
collection products that best meet what waste haulers need, along
with offering top-quality OEM parts and unmatched support and
service through our nationwide distributor network. Visit
www.newwaytrucks.com to learn more.
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.
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SOURCE Hyzon
