Joint Development Agreement to Bring Fuel Cell
Electric Trucks to the North American Refuse Market;
Scheduling in Progress for Trials in First Half of 2024
BOLINGBROOK, Ill., Feb. 6, 2024
/PRNewswire/ -- Hyzon Motors Inc. (Hyzon) (NASDAQ: HYZN), a
leading hydrogen fuel cell technology developer and global supplier
of zero-emission heavy-duty fuel cell electric vehicles (FCEVs),
and privately held New Way Trucks (New Way), today announced a
Joint Development Agreement (JDA) to develop a fuel cell powered
refuse vehicle for the North American market.
"Zero emission hydrogen fuel cell technology is the key to
reducing emissions from many hard-to-abate industries, including
refuse collection," said Hyzon Chief Executive Officer Parker Meeks. "Hyzon is primed to begin this
partnership with New Way as we pursue a shared goal of
decarbonizing the refuse industry. The operational capabilities of
our Australian fuel cell refuse collection truck trial helped
demonstrate that hydrogen fuel cell technology is a viable
replacement for traditional diesel engines when it comes to heavy
industry, and overcomes some of the inherent challenges identified
with other zero emission technologies such as range anxiety, severe
operating temperatures, and payload limitations."
Hyzon and New Way plan to start the advanced phases of truck
development, with the initial base FCEV prototype ready for refuse
collection equipment integration. Hyzon will be responsible for the
supply and integration of its advanced fuel cell technology and
integrated powertrain, while New Way will be responsible for the
supply and integration of the prototype's Sidewinder XTR automated
side-load refuse body, thereby combining both companies' expertise
to develop a sustainable refuse collection solution. The
development process is expected to leverage Hyzon's real-world
experience developing, assembling and deploying a hydrogen fuel
cell refuse truck in operation since October
2023 in Australia with
REMONDIS Australia, the Australian operation of one of the world's
largest recycling, service and water companies.
"New Way has a successful history of deploying alternative
powertrain refuse equipment across North
America," said Don Ross, New
Way's Chief Sales Officer. "Partnering with Hyzon to bring the
continent's first Class 8 FCEV refuse collection vehicle to life is
a significant step in helping our customers meet their
sustainability and decarbonization objectives."
Across North America, Hyzon
estimates that about 120,000 refuse trucks are currently
operational, consuming a total of over 953 million gallons of
diesel fuel annually. The integration of FCEVs into refuse
collection fleets in North America
provides an opportunity to help decarbonize the industry and reduce
noise pollution from diesel trucks. Moreover, Hyzon expects fuel
cell powered refuse trucks to deliver performance levels on par
with both diesel and natural gas trucks.
"Partnering with New Way is an important step for us," said
Hyzon Vice President of Commercial Steve
Boyer. According to Boyer, Hyzon's advanced fuel cell
technology is expected to enhance the operational performance of
refuse trucks and have a positive impact on the environment. Hyzon
President Pat Griffin added, "It's
about providing solutions that align with our customers'
operational needs and sustainability goals. Working with a partner
like New Way is invaluable. Our joint development efforts have the
potential to set a new standard for the refuse industry."
Initial customer trials for the parties' first North American
prototype truck are planned to begin in the first half of 2024 with
a mix of public and private refuse fleets. Additionally, Hyzon is
targeting initial commercial vehicle deliveries in 2025 on the back
of potential successful trials. Upon trial deployment, the trucks
are expected to achieve up to a 125 mile driving range, 1,200
refuse cart lifts per route, an unladen weight significantly
lighter than an equivalent battery electric truck, and a refueling
time of 15 minutes based on performance observed to date in the
REMONDIS trial. The Hyzon refuse trucks deliver competitive daily
operational performance when compared to combustion engines.
"We look forward to learning how the Hyzon/New Way unit performs
on route," shared Eric Evans, New
Way's Chief Product Officer. "New Way distributors and key
customers are excited about the prospect of alternative powertrain
options that leverage the learnings of BEV without performance
compromises while aligning with emerging hydrogen technology and
infrastructure investment."
Through trials, Hyzon's goal is to demonstrate to customers and
the industry that fuel cell-powered refuse vehicles can be the
primary choice for any refuse management company interested in
minimizing its carbon footprint and modernizing its fleets.
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.
About New Way Trucks
New Way Trucks is the largest
privately held refuse equipment manufacturer in North America. With the broadest lineup of all
U.S. manufacturers, New Way's product line features six rear-load,
three automated side-load (including the industry-leading
Sidewinder XTR, auger driven ROTO PAC, and under CDL capable
Wolverine), and two front-load models ranging in size from six to
43 cubic yards. New Way Trucks is proud to have played a key role
in developing the most advanced mobile refuse equipment in the
world: equipment that drives positive, sustainable change for not
only its customers and the environment, but for the broader public
it serves.
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. These forward-looking statements, including
the possibility of adoption of fuel cell electric vehicles by the
refuse industry, 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" sections of Hyzon's Form 10-K for the year ended
December 31, 2022 filed with the U.S.
Securities and Exchange Commission (SEC) on May 31, 2023, Form 10-Q for the quarter ended
September 30, 2023 filed on
November 14, 2023, and in 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 Motors Inc.