Hyliion Holdings Corp (HYLN)

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HYZON MOTORS SUCCESSFULLY COMPLETES FIRST CUSTOMER DEMO OF LIQUID HYDROGEN FUEL CELL ELECTRIC TRUCK
AUGUST, 30, 2023
https://investors.hyzonmotors.com/news/news-details/2023/HYZON-MOTORS-SUCCESSFULLY-COMPLETES-FIRST-CUSTOMER-DEMO-OF-LIQUID-HYDROGEN-FUEL-CELL-ELECTRIC-TRUCK/default.aspx

Demo Run Demonstrate Viability of Liquid Hydrogen for Commercial Trucking Applications and Confirms Diesel-Comparable Range Potential

ROCHESTER, N.Y., Aug. 30, 2023 /PRNewswire/ -- 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, Performance Food Group, Inc. (PFG) (NYSE: PFGC), one of the largest food and foodservice distribution companies in North America, and Chart Industries, Inc. (Chart) (NYSE: GTLS), a leading global manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas market, today announced successful completion of Hyzon's first commercial run with a liquid hydrogen fuel cell electric vehicle (LH2 FCEV).

Starting in Temple, TX, the truck completed deliveries to eight PFG customers near Dallas, TX, travelling over 540 miles on a 16-hour continuous run including over 100-degree Fahrenheit temperatures. The run – further than the distance from Sacramento to San Diego – demonstrates the viability of on-board liquid hydrogen to fuel long-distance, zero-emission transport.

"With increased range and no added weight in comparison to our gaseous hydrogen trucks, we believe this liquid hydrogen demo run has demonstrated potential viability for the future of liquid hydrogen in commercial trucking," said Hyzon Chief Executive Officer Parker Meeks. "The results we captured in the strenuous demo through Central Texas's diverse terrain and summer heat make us optimistic that, once commercialized, our liquid hydrogen vehicle powered by our proprietary 200kW fuel cell system should be able to provide long distance range between 650 and 800 miles, on par with many diesel truck range requirements."

Compared to gaseous hydrogen, the current industry standard, liquid hydrogen allows Hyzon to increase the amount of fuel on board significantly thanks to increased energy density, with no changes to vehicle weight or payload. To maintain the energy-dense liquid state, hydrogen requires cold temperatures of negative 400 degrees Fahrenheit. Hyzon partnered with Chart Industries to develop a tank system capable of storing liquid hydrogen at extremely cold temperatures and delivering it to the fuel cell system at the necessary pressure.

"This is a meaningful accomplishment for the hydrogen ecosystem, as long-haul and heavy duty transportation is a key end-use for liquid hydrogen," stated Jill Evanko, Chart's CEO and President. "Our investment in our unique cryogenic liquid hydrogen onboard tank and our liquid hydrogen test facility support progress in the hydrogen industry, with the Hyzon and PFG road demonstration another key step in the evolution of hydrogen commercialization."

Liquid hydrogen as a fuel source has been estimated to be up to $5 per kilogram less expensive all-in to dispense than high-pressure gaseous hydrogen1, which would provide meaningful benefits to fleet owners.

Hyzon CEO Meeks added that "simply put, we see liquid hydrogen as the economical approach to long range zero emission trucking".

For vehicle testing and the demo run, liquid hydrogen transportation, storage and dispensing was provided by Certarus, a North American leader in on-road low carbon energy solutions, with liquid hydrogen produced by Air Liquide.

1Elgowainy, A., & Reddi, K. (2022, June). ECONOMIC AND ENVIRONMENTAL EVALUATION OF FUELING OPTIONS FOR HYDROGEN FUEL CELL HEAVY-DUTY VEHICLES. Lemont: Argonne National Laboratory.

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 Performance Food Group Company
Performance Food Group is an industry leader and one of the largest food and foodservice distribution companies in North America with more than 150 locations. Founded and headquartered in Richmond, Va., PFG, and our family of companies, market and deliver quality food and related products to 300,000+ locations including independent and chain restaurants; businesses, schools and healthcare facilities; vending and office coffee service distributors; and big box retailers, theaters and convenience stores. PFG's success as a Fortune 200 company is achieved through our more than 37,000 dedicated associates committed to building strong relationships with the valued customers, suppliers and communities we serve. To learn more about PFG, please visit www.pfgc.com.