Hyzon Motors Inc Stock Price, News & Analysis

Hyzon Motors (NASDAQ: HYZN) announced the appointment of Shawn Yadon as President, Commercial, effective July 1, 2022. Yadon, formerly CEO of the California Trucking Association, will oversee the commercialization of North America and enhance Hyzon's position in hydrogen fuel cell vehicle production and sales. His extensive experience in the trucking industry and government affairs is expected to strengthen Hyzon's advocacy for zero-emission vehicles and necessary hydrogen infrastructure. CEO Craig Knight expressed optimism about Yadon boosting commercial activities amid rising momentum for zero-emission vehicles in North America.

Hyzon Motors (NASDAQ: HYZN) has announced a joint development agreement (JDA) with Schlumberger (NYSE: SLB) to create zero-emission fuel cell power solutions for oil and gas operations. This partnership aims to replace traditional diesel generators with Hyzon's fuel cell systems, expected to demonstrate capabilities in Q4 2022. The collaboration will initially focus on North American land drilling rigs, potentially eliminating 10,000 tons of CO2 annually when powered by zero-carbon hydrogen. Schlumberger will facilitate customer validation and commercialization of the technology.

Hyzon Motors (NASDAQ: HYZN) has signed a definitive agreement to acquire ORTEN Betriebs GmbH and ORTEN Electric Trucks GmbH, expanding its presence in Germany's zero-emission truck market. This acquisition, expected to close in Q4 2022, adds three production facilities and over 80 experienced employees to Hyzon's operations. The deal leverages ORTEN's expertise in electrification and aligns with Germany's push towards electric vehicles, bolstered by EU policies banning combustion engine sales by 2035. The partnership aims to enhance customer access and support the shift to hydrogen fuel cell technology.

Hyzon Motors (NASDAQ: HYZN) announced CARB certification for its Class 6, 7, and 8 Repowers, allowing it to sell fuel cell electric trucks in California. The Repower program enables customers to convert used diesel trucks to fuel cell electric, aiming for cost parity with diesel through subsidies. Hyzon expects to be a leader in commercial fuel cell electric trucks, capitalizing on a unique market opportunity in California's zero-emission vehicle sector. This certification positions Hyzon favorably against competitors, as it becomes one of the first providers of repowered heavy-duty FCEVs.

Hyzon Motors Inc. (NASDAQ: HYZN) will host its Investor Day on June 7, 2022, at 8:00 am EDT. The event will take place at the company's facilities in Groningen, Netherlands, and will include a presentation on Hyzon's strategic vision and growth plans. A live webcast will also be available. Analysts interested in attending in-person tours and demonstrations should contact IR@HyzonMotors.com. An archived webcast will be accessible on the Hyzon Investor Relations website.

Hyzon Motors (NASDAQ: HYZN) launches its Repower program aimed at converting used diesel trucks to zero-emission fuel cell electric vehicles. This program addresses customer demand amidst a global supply chain crisis, allowing for faster delivery of clean vehicles. The first commercial launch of Hyzon's 200 kW fuel cell, part of this initiative, is expected in late 2022. Repowering is projected to reduce costs to parity with diesel, aided by existing subsidies in California. The Repower program highlights Hyzon's commitment to accelerate decarbonization and reduce waste.

Hyzon Motors achieved a milestone by producing its first domestic fuel cell stack and system ahead of schedule. The company increased its ownership in Hyzon Motors Europe B.V. from 50.5% to 75% and signed a vehicle supply agreement with Hylane for five additional fuel cell trucks, raising their total to 23. A public procurement bid in Foshan, China, could bring in up to $8 million for municipal trucks. The company reported Q1 2022 revenue of $0.4 million, total operating expenses of $27.1 million, and a net loss of $8.5 million. Cash reserves stand at $407.3 million.

Hyzon Motors Inc. (NASDAQ: HYZN) will release its first quarter 2022 financial and operational results before the market opens on May 6, 2022. The event will include a live conference call hosted by CEO Craig Knight and CFO Sam Chong at 8:30 AM ET. Additionally, the company has scheduled its virtual 2022 annual meeting of stockholders for June 6, 2022, where all stockholders of record as of April 11, 2022, are entitled to vote and attend.