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Pending a successful trial, which is expected to be completed before the end of 2021, Hyzon expects to lease trucks to members of the Association, in an arrangement that includes hydrogen fuel and service along with the vehicle. This combination is expected to accelerate the transition to hydrogen-powered vehicles by reducing required up-front investment while ensuring stability and predictability in vehicle operating costs.
Foshan, located in
“Foshan City has taken remarkable steps to enable the hydrogen ecosystem, and deploying these municipal dump trucks is another example of their commitment to meaningful action,” said Hyzon CEO and Co-Founder
Municipal dump truck operations are a particularly suitable application for hydrogen fuel cell technology to replace diesel fuel, as the back-to-base model allows for a highly utilized, central refueling infrastructure. Operating the hydraulic lifts on the vehicles also demands significant power, which Hyzon’s high-density fuel cells can readily supply.
The market for hydrogen-powered commercial vehicles is expected to grow rapidly over the coming years, motivated in part by government programs aimed at reducing air pollution. As a result, major companies including Hyundai,
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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 2021 outlook and the expected results from this and other potential customer trials, 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
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