First Nine
B-Sample Fuel Cell Systems Successfully Assembled and
Tested; On Track to Declare C-Sample in late 2023 and Begin
Production in 2024
ROCHESTER, N.Y., July 10,
2023 Hyzon Motors Inc. (Hyzon) (NASDAQ: HYZN), a
high-power hydrogen fuel cell technology developer and global
supplier of zero-emission heavy-duty fuel cell electric vehicles
(FCEVs), today announced the successful completion and factory
acceptance testing of the first nine single-stack 200kW Fuel Cell
System (FCS) B-samples at its production and innovation center in
Bolingbrook, IL. By achieving this
milestone, Hyzon remains on track to declare Start of Production
(SOP) and commercialization of its innovative FCS in 2024.
The successful completion of testing of Hyzon's nine 200kW FCS
B-samples in the first half of 2023 demonstrates consistent
progress toward commercial production. This achievement follows the
commissioning of Hyzon's proprietary, automated roll-to-roll
Membrane Electrode Assembly (MEA) production line including in-line
inspection and the installation of its single cell and fully
automated fuel cell stack manufacturing lines. Progression of the
200kW FCS B-samples validates the design, equipment, and operating
procedures, which are all critical to the final tooling and
production of C-samples and the eventual commercialization of the
FCS. Additionally, we believe it shows growth in the
company's prototype assembly rate, with six of the B-samples
produced and tested in Q2 2023, an increase from three in Q1
2023.
Hyzon is positioning to increase its FCS manufacturing rate with
the installation of additional full and semi-automation equipment
in the assembly and inspection processes, which is already
underway. We also expect the continued standardization of design
around the 200kW FCS powertrain components will expedite production
and the Company expects the remaining 16
B-samples to be complete and the production of C-samples to
begin in the second half of 2023.
"Our goal is to accelerate the clean energy transition by
providing hydrogen fuel cells to power zero-emission mobility,"
said Parker Meeks, Hyzon's Chief
Executive Officer. "In our view, this milestone reflects Hyzon's
years of leadership in developing hydrogen fuel cell technology,
and this important step toward full-scale 200kW FCS production
demonstrates exciting progress toward the commercialization of our
single stack design."
Hyzon's single-stack 200kW FCS provides significant advantages
relative to current industry standards. While most FCEV suppliers
achieve 200kW output by coupling two ~110kW FCSs, Hyzon has
developed proprietary material, design, and equipment engineering
enabling 200kW output from a single stack. This breakthrough is
expected to result in the following improvements:
- ~20% increase in miles per kilogram of hydrogen vs the
120kW FCS – greatly improving the truck total cost ownership
(TCO);
- ~30% smaller volume & weight;
- 25% lower cost; and
- Materially less maintenance than two 100kW long-range
fuel cell systems due to the relative simplicity of design.
The demand environment for hydrogen fuel cell systems is robust,
with approximately 68 million diesel-powered vehicles globally
emitting roughly 11 billion tons of carbon annually[1]. Further,
the U.S. government has made significant commitments to the
industry, including the $7 billion
committed through the Department of Energy's Hydrogen Hub Program,
as well as several programs contained in the Inflation Reduction
Act, such as:
- $60 million for the Diesel
Emission Reduction Act program,
- $2 billion for the Domestic
Manufacturing Conversion Grant program,
- $3 billion for the Advanced
Technology Vehicle Manufacturing program,
- A long-term extension of the Advanced Manufacturing Production
Credit,
- $2.25 billion to reduce air
pollution at ports through deploying zero-emission technology.
For more information, visit HyzonMotors.com.
About Hyzon Motors Inc.
Hyzon Motors Inc. is a global supplier of fuel cell electric
mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in
the Netherlands, Australia, and China. Hyzon is an energy transition
accelerator and technology innovator, providing solutions in the
transport sector with a focus on commercial vehicles and hydrogen
supply infrastructure. Utilizing its proprietary hydrogen fuel cell
technology, Hyzon's mission is to supply zero-emission heavy duty
trucks to customers in North
America, Europe and other
countries to mitigate emissions from diesel transportation - one of
the single largest sources of carbon emissions globally. The
Company is contributing to the adoption of fuel cell electric
vehicles through its demonstrated technology advantage, fuel cell
system performance, and 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 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 "aims",
"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. This press release
contains forward-looking information relating, but not limited to,
testing of B-sample FCS, anticipated production, testing, and
commercialization timelines, and benefits of Hyzon's 200kW
single-stack FCS as compared to Hyzon's current 110kW FCSs. 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,
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, including risks and uncertainties described in
the "Risk Factors" section Risk Factors" section of Hyzon's Annual
Report on Form 10-K for the year ended December 31, 2022 filed with the U.S. Securities
and Exchange Commission (the "SEC") on May
31, 2023, 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 such as risks related to Hyzon's ability
to obtain necessary raw materials and risks related to changes in
market demand and future testing failures. Hyzon gives no
assurances that Hyzon will achieve its expectations.
1 Multiple industry sources: WhichCar, ecoRI
News, Proformance Supply
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SOURCE Hyzon Motors Inc.