WINSCHOTEN, Netherlands, Feb. 23,
2022 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN),
a leading supplier of hydrogen-powered fuel cell electric vehicles,
today announced the signing of a vehicle supply agreement between
MaserFrakt, a major Swedish transport group, and Hyzon Motors
Europe BV, Hyzon's joint venture with Holthausen Clean Technology
Investment B.V. The collaboration marks a milestone in enabling
emission-free long-haul transport in Sweden, as it is expected to bring the first
hydrogen-powered heavy trucks in commercial operation to the
country.
Under the contract, Hyzon will supply two HyMax-250 fuel cell
electric trucks, built on a 6x4 vehicle chassis. Through 98
kilograms of hydrogen stored onboard, the 64-ton trucks are
expected to have a range of up to 680 kilometers.
Leading the transition to sustainable commercial transport in
Sweden, MaserFrakt has already
established a fleet of 1500 vehicles, half of which already operate
without fossil fuels; the Hyzon vehicles are expected to be the
first fuel cell electric vehicles in the fleet. Further, MaserFrakt
has already announced plans to support hydrogen infrastructure
development, through agreements for hydrogen supply with Svea Vind
Offshore and a hydrogen filling station with NEL.
Sweden has set a target of
reducing fossil carbon dioxide emissions from domestic transport
(excluding aviation) by 70 percent by 2030. The Swedish government
has identified hydrogen as a key enabler of zero-emission long-haul
transport. MaserFrakt has received support and funding for its
hydrogen initiatives through the Swedish Energy Agency and the
Swedish Environmental Protection Agency (Klimatklivet and
Naturvårdsverket). As part of MaserFrakt's participation in TRB
Sverige AB, a network for sustainable fuels and heavy transports,
the company has committed to reducing emissions by 70 percent
within its own operations by 2026.
"Hyzon is proud to be a chosen supplier for customers who
are pushing their operations towards the emissions targets imposed
by each country in Europe," said
Max Holthausen, Hyzon Motors Europe
CEO. "MaserFrakt AB will be the first company to deploy a Hyzon
hydrogen heavy truck on the road in Sweden. The initial order paves the way for
future collaborations to expand hydrogen mobility in Sweden."
"This will be an important step in our ambitions in the energy
transition," said MaserFrakt CEO Per
Bondemark. "Together with our customers we are constantly
trying to find better and more sustainable transport solutions. We
are confident that the collaboration with Hyzon Motors will pave
the way for a greener future."
About Hyzon Motors Inc.
Headquartered in
Rochester, N.Y., with U.S.
operations in the Chicago and
Detroit areas, and international
operations in the Netherlands,
Singapore, Australia, Germany, and China, Hyzon is a leader in fuel cell electric
mobility with an exclusive focus on the commercial vehicle market,
and a near-term focus on back to base (captive fleet) operations.
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 to
mitigate emissions from diesel transportation, one of the single
largest sources of carbon emissions globally. Hyzon is contributing
to the escalating adoption of fuel cell electric vehicles through
its demonstrated technology advantage, leading fuel cell
performance and history of rapid innovation. Visit
www.hyzonmotors.com.
Hyzon Motors Europe BV
Hyzon Motors Europe BV is a
joint venture of Hyzon Motors Inc. and Holthausen Clean Technology.
Both companies have a long-time relationship and experience in
developing and delivering hydrogen applications for all kinds of
industries. Hyzon Motors Europe's main office is located close to
its manufacturing facility in Winschoten just outside Groningen,
The Netherlands where it assembles
the HyMax series for the European and global market.
About Maserfrakt
MaserFrakt is a major player in
the Swedish transport and logistics industry. MaserFrakt is owned
by more than 300 haulier companies and has an annual turnover of
approximately 240 million euro.
MaserFrakt provides all kinds of transportation services, logistics
services and contracting services to the Swedish industry sector,
the food retail sector, e-commerce and also to municipalities. The
fleet of more than 1500 vehicles is already more than 50% fossil
free and MaserFrakt´s sustainability roadmap, which includes
liquified biogas, battery electric vehicles and fuel cell electric
vehicles, will take the company towards a climate neutral fleet no
later than 2035. www.maserfrakt.se
About TRB
MaserFrakt is part of TRB, a network for
sustainable fuels and heavy transports, together with 10 other
similar companies as MaserFrakt. The total amount of vehicles
within the TRB-group are around 7,000. The group has also recently
signed a climate protocol where the companies have agreed on a
climate neutral fleet by 2035. www.trb.se
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, 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 include, but
are not limited, to future orders, 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, Hyzon disclaims 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. Hyzon cautions 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 Hyzon, such as the risks that this
agreement may or may not result in future orders, the risk of
successful fulfilment of the agreement and risks stemming from
supply chain constraints due to the pandemic. Other risks
include those risks and uncertainties described in the "Risk
Factors" section of Hyzon's definitive proxy statement on Schedule
14A filed with the U.S. Securities and Exchange Commission (the
"SEC") on June 21, 2021, our
Registration Statement on Form S-1 filed with the SEC on
July 30, 2021, and other documents
filed by Hyzon 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.
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SOURCE Hyzon