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Hyzon Motors : ZeroAvia places evaluation order for Hyzon Motors' high power density fuel cell

09/06/2021 | 03:52am EDT
  • Hyzon Motors to supply fuel cell stack to ZeroAvia to support zero-emissions aircraft development
  • Hyzon's fuel cell stack leads the industry in power density, of particular importance in aviation applications

ROCHESTER, N.Y. September X, 2021: Light and mighty, Hyzon Motors Inc. (NASDAQ: HYZN) fuel cell stacks are being considered by zero-emissions aviation pioneer, ZeroAvia.

Hyzon, a leading global supplier of zero-emission hydrogen fuel cell-powered heavy vehicles, announced today that ZeroAvia has placed an order for Hyzon's next generation, high-performance lightweight fuel cell. ZeroAvia will evaluate the game-changing fuel cell for use in its zero-emission aircraft development program, which focuses on hydrogen-electric solutions.

ZeroAvia selected Hyzon's fuel cell stack for this evaluation due to its industry-leading power density. As confirmed by leading technical certification provider TUV Rheinland, Hyzon's Gen3 fuel cell stack achieves a volumetric power density above 6.0 kW/liter and gravimetric power density more than 5.5 kW/kg, well above industry averages. These factors are critical in aviation to minimize weight while providing sufficient power for the desired performance.

Hydrogen provides three times higher specific energy content compared to jet fuel, and is over 100 times higher than the best batteries today, making it the only viable option for large scale zero emission aircraft,' says Val Miftakhov, founder and CEO of ZeroAvia. 'We are always interested in exploring new technologies for our powertrains, and we look forward to seeing how Hyzon fuel cell stacks perform in the demanding aviation applications.'

Hyzon achieves the high power density through a combination of proprietary technologies in the Bipolar Plate and Membrane Electrode Assembly (MEA), the heart of the fuel cell where electrochemical reactions take place to generate power. Hyzon's technology maximizes the utilization of the catalyst found in the MEA.

Primarily known for their hydrogen-powered heavy-duty trucks, buses and coaches, and other on-road commercial vehicles, Hyzon's core technology can be adapted to accommodate the aircraft application.

'The fuel cell stack doesn't care what it powers,' said Hyzon CEO Craig Knight. 'Whether it's in an 18-wheeler, crane, train or airplane, the fuel cells operate very much the same way. Aviation is clearly in need of viable zero emission solutions, and hydrogen propulsion via fuel cells offers some unique characteristics to address this significant contributor to global air emissions.'

ZeroAvia will test the fuel cell stack through simulated airplane duty cycles. These tests will include customary power needs such as take-off, cruising, landing and taxiing, as well as more strenuous circumstances including rapid changes in altitude and other ambient conditions. Once the fuel cell stack has been validated in a ground test program, the next step will be to test them in flight.

ZeroAvia and Hyzon share a focus on practical solutions to zero-emissions transport. For ZeroAvia, this has led to a focus on hydrogen power, as traditional battery electric options are far too heavy to be viable.

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, which is one of the single largest sources of carbon emissions globally. The Company 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.

About ZeroAvia

ZeroAvia is a leader in zero-emission aviation, focused on hydrogen-electric aviation solutions to address a variety of markets, initially targeting 500-mile range in 10-20 seat aircraft used for commercial passenger transport, cargo, agriculture, and more. Based in the UK and USA, ZeroAvia has already secured experimental certificates for its two prototype aircraft from the CAA and FAA, passed significant flight test milestones, and is on track for commercial operations in 2024. The company's expanding UK operations are supported by grants from UK's Aerospace Technology Institute and Innovate UK, and ZeroAvia is part of the UK Government's Jet Zero Council. For more, please visit ZeroAvia.com, follow @ZeroAvia on Twitter, Instagram, and LinkedIn.

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, including those regarding Decarbonization Plus Acquisition Corporation's ('DCRB') proposed acquisition of Hyzon and DCRB's ability to consummate the transaction, 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 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, DCRB and Hyzon disclaim 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. DCRB and Hyzon caution 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 either DCRB or Hyzon, including risks and uncertainties described in the 'Risk Factors' section of Exhibit 99.3 of DCRB's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the 'SEC') on Feb. 9, 2021, the 'Risk Factors' section of DCRB's definitive proxy statement on Schedule 14A filed with the SEC on June 21, 2021, and other documents filed by DCRB 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 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.

Media contacts

Hyzon Motors
Caroline Curran

Hill+Knowlton Strategies
+1 256-653-5811

For investors:
Darla Rivera
Hyzon Motors Inc

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Hyzon Motors Inc. published this content on 06 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 September 2021 07:51:04 UTC.

© Publicnow 2021
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Net income 2022 -82,5 M - -
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P/E ratio 2022 -8,38x
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Capitalization 731 M 731 M -
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Craig M. Knight Chief Executive Officer & Executive Director
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