Hyzon Motors Inc (HYZN)

[WeTheMarket]

Hyzon Motors receives zero-emissions certification from California Air Resources Board
Tue, Jun 07, 2022, 08:00 am ET
https://www.stonkmoon.com/news/HYZN/83584eab370983a43f874c5d8a2354b9

With CARB certification, Hyzon will be among the first commercial providers of fuel cell electric heavy- and medium-duty trucks in California

ROCHESTER, N.Y., June 7, 2022 /PRNewswire/ -- Hyzon Motors (NASDAQ: HYZN), a global supplier of zero-emissions hydrogen and fuel cell powered commercial vehicles, announced that the California Air Resources Board (CARB) has certified its Class 8, 7, and 6 Repowers as exempt from emission requirements, enabling the company to sell fuel cell electric trucks in California. Hyzon's Repower program allows customers to exchange their used diesel trucks for conversion to fuel cell electric using Hyzon's proprietary fuel cell technology.

With this certification, Hyzon expects it will offer the first commercially available repowered Class 8, Class 7 and Class 6 FCEVs in California. While FCEVs have been granted provisional approvals for trials, and fuel cell electric buses have received CARB certification, no known heavy- or medium-duty FCEVs are currently available, based on the list provided by California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).

HVIP, an incentive program administered by national clean transportation consortium CALSTART, provides subsidies to reduce the incremental cost of clean commercial vehicles. CARB certification is the primary requirement to secure HVIP eligibility in California. Hyzon expects to qualify for the incentive program later this year.

"We are proud to join the list of vehicle and technology providers certified by CARB as zero-emission, and plan to lead the deployment of fuel cell electric trucks in commercial operations in California," said Craig Knight, Hyzon Motors CEO. "Our technology has already proven itself in daily runs at the Port of Long Beach, and we look forward to putting more clean trucks on the road. Drayage operations are a particularly attractive use-case on hydrogen, and we expect to see rapid uptake in California."

Repowering vehicles is expected to be a more time and capital efficient approach for fleets to decouple from diesel, given 16+ month lead time for new diesel trucks. Repowering an existing vehicle is also expected to reduce customer costs, leading to Total Cost of Ownership (TCO) at or below diesel parity in California, thanks to subsidies. Additionally, the Repower program avoids waste and manufacturing carbon emissions generated by asset renewal.

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.