ROCHESTER, N.Y., July 27,
2023 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN)
(Hyzon or the Company), a high-power hydrogen fuel cell technology
developer and global supplier of zero-emission heavy-duty fuel cell
electric vehicles (FCEVs), today announced it received a formal
notice from The Nasdaq Stock Market LLC (Nasdaq) notifying Hyzon
that it has successfully regained compliance with the $1.00 per share minimum bid price requirement
pursuant to Nasdaq Listing Rule 5450(a)(1) and that the matter is
now closed.
The minimum bid price requirement was met on July 25, 2023, the tenth consecutive trading day
when the closing bid price of the Company's common stock was more
than $1.00. Hyzon's stock will
continue to be listed and traded on The Nasdaq Capital Market.
About Hyzon
Hyzon Motors is a global supplier of high-power fuel cell
technology focused on integrating its solutions into zero-emission
heavy-duty fuel cell electric vehicles. Utilizing its proven and
proprietary hydrogen fuel cell technology, Hyzon aims to supply
zero-emission heavy duty trucks to customers in North America, Europe, Australia, and New
Zealand to mitigate emissions from diesel transportation -
one of the single largest sources of global carbon emissions. Hyzon
collaborates with partners across the hydrogen value chain to bring
clean hydrogen to the market to support fuel cell vehicle
deployments. Hyzon is contributing to the adoption of fuel cell
electric vehicles through its demonstrated technology advantage,
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 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, including
statements about our business outlook, 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 of Hyzon's
definitive proxy statement on Schedule 14A filed with the U.S.
Securities and Exchange Commission (the "SEC") on July 14, 2023, our Registration Statement on Form
S-1 filed with the SEC on July 30,
2021, our Form 10-K for the year ended December 31, 2022 filed with 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 the ability to convert non-binding memoranda of
understanding or vehicle trial agreements into binding orders or
sales (including because of the current or prospective financial
resources of the counterparties to Hyzon's non-binding memoranda of
understanding and letters of intent), or the ability to identify
additional potential customers and convert them to paying
customers. Hyzon gives no assurance that Hyzon will achieve its
expectations.
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SOURCE Hyzon Motors Inc.