Hyzon seeks US market cash for next steps

Hydrogen-powered heavy vehicle firm eyes roll-out in northern hemisphere


Hyzon is looking to access investor cash to fund its expansion ambitions that have already extended to Australia and New Zealand.

The US hydrogen fuel cell heavy vehicle company is to back into a listing on the NASDAQ board by linking with Decarbonization Plus Acquisition Corporation (DCRB).

“We are excited to partner with DCRB at an important inflection point for our company, hydrogen and society,” Hyzon’s Australian-born CEO and co-founder, Craig Knight, says.

“Deliveries of Hyzon fuel cell powered heavy trucks to customers in Europe and North America will occur this year, well ahead of our competitors, and our committed sales pipeline is proof that the world is truly recognising the need to develop innovative solutions to mitigate climate change and accelerate efforts to move the world economy down the path to net-zero emissions.”

Hyzon has already made waves regionally.

It recently working on hydrogen refuelling infrastructure with Real Energy and touched on trucks when announcing a hydrogen-powered bus deal with Fortescue Metalsin Australia while aligning with New Zealand’s Hiringa Energy for a fleet of heavy fuel cell electric vehicles (FCEVs).

Read about some of Hyzon’s recent developments, here

The link will allow a ‘private investment in public equity’ (PIPE) offering expected to raise some US$626 million (A$810 million) from the likes of BlackRock, the Federated Hermes Kaufmann Funds, Fidelity Management & Research, Wellington Management and Riverstone Energy.

“This business combination will enable us to expand deployments of our zero-emission hydrogen fuel cell powered heavy vehicles globally, and to continue leading the hydrogen transition,” chairman and co-founder George Gu says.

 “We are incredibly excited about the dynamic mobility category as municipalities and Fortune 100 companies are rapidly embracing hydrogen as the essential pathway to a net-zero economy.

“The number of countries cementing and then enhancing their national hydrogen strategies expands almost weekly, and we are extremely encouraged by both investor and public interest in the hydrogen economy.”

DCRB is a decarbonisation investment firm focused on the most carbon-intensive industries backed by an affiliate of energy and power-focused private investment firm Riverstone.


Send this to a friend