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- By the transaction, Hyzon plans to ascertain operational footprint and buyer entry in engaging German Zero Emission truck market, together with enlargement of electrification and powertrain equipment experience & meeting capability
- With nearly one century of expertise within the truck and trailer business, the ORTEN Group is among the pioneers for the electrification of latest and used industrial diesel autos, supporting worldwide CO2 free mobility.
ROCHESTER, N.Y., June 13, 2022 /PRNewswire/ — Hyzon Motors (NASDAQ: HYZN), a world provider of zero-emissions hydrogen and gas cell powered industrial autos, introduced right now the signing of a definitive settlement to amass ORTEN Betriebs GmbH and subsidiaries, and ORTEN Electrical Vans GmbH, German producers of modern truck and trailer our bodies for the beverage business (collectively, “ORTEN”). The transaction is anticipated to shut within the fourth quarter, 2022.
The acquisition brings three fully-operational manufacturing amenities and a crew of over 80 staff beneath the Hyzon umbrella. ORTEN’s staff are skilled in electrification, retrofitting, and bodybuilding, all crucial components of Hyzon’s FCEV construct course of. Moreover, ORTEN administration has in depth, long-standing buyer relationships throughout Germany.
Complementary product traces between Hyzon and ORTEN, together with ORTEN’s physique and powertrain kits, present a complete answer for patrons transitioning their fleets to zero emissions: autos as much as 26 tons will be transitioned to ORTEN’s present providing of battery electrical autos, whereas the operational necessities of medium- and heavy-duty autos will be met with Hyzon’s FCEVs.
Germany is anticipated to be a significant international marketplace for zero-emission industrial autos within the coming years. The European Union lately introduced a complete ban on gross sales of combustion engine vehicles from 2035, and Germany presents numerous incentives to transition heavy autos off diesel, together with some that present subsidies for as much as 80% of the extra funding prices of going electrical in comparison with changing autos with diesel equivalents; and even higher ranges of subsidy for some public fleets.
“We’re proud to develop our crew and our attain by such an esteemed and modern supplier of options in German logistics,” mentioned Craig Knight, Hyzon Motors CEO. “We sit up for working with the ORTEN crew to speed up Germany’s transfer to zero emissions by hydrogen gas cell expertise, and to deepen the client relationships ORTEN has within the beverage business to incorporate the potential of Hyzon FCEVs.”
“Trying again on a historical past of almost 100 years of bringing modern options to our industrial and municipal clients, we’re completely satisfied and proud to affix forces with Hyzon to construct a greater future,” provides Robert Orten, long run proprietor and CEO of the ORTEN group. “Being a primary mover within the subject of battery electrical vehicles, we now have the chance to scale up our proprietary electrification and physique constructing know-how. I wish to categorical my gratitude to my staff, clients and suppliers and sit up for a profitable cooperation with Hyzon.”
About Hyzon Motors Inc.
Headquartered in Rochester, N.Y., with U.S. operations within the Chicago and Detroit areas, and worldwide operations in the Netherlands, Singapore, Australia, Germany, and China, Hyzon is a pacesetter in gas cell electrical mobility with an unique concentrate on the industrial automobile market, and a near-term concentrate on again to base (captive fleet) operations. Using its confirmed and proprietary hydrogen gas cell expertise, Hyzon goals to provide zero-emission heavy obligation vehicles and buses to clients in North America, Europe and all over the world to mitigate emissions from diesel transportation, one of many single largest sources of carbon emissions globally. Hyzon is contributing to the escalating adoption of gas cell electrical autos by its demonstrated expertise benefit, main gas cell efficiency and historical past of fast innovation. Go to www.hyzonmotors.com.
Ahead-Trying Statements
This press launch consists of “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. All statements, apart from statements of current or historic reality included on this press launch, are forward-looking statements. When used on this press launch, the phrases “might,” “ought to,” “will,” “might,” “consider,” “anticipate,” “intend,” “estimate,” “count on,” “challenge,” the destructive of such phrases and different comparable expressions are supposed to determine forward-looking statements, though not all forward-looking statements comprise such figuring out phrases. These forward-looking statements which embrace, however should not restricted to, anticipated demand for and gross sales of Hyzon autos and the tempo of adoption of hydrogen gas cell electrical autos, and the profitable integration of Orten operations and anticipated advantages of the acquisition, and are based mostly on administration’s present expectations and assumptions about future occasions and are based mostly on at present obtainable info as to the result and timing of future occasions. Besides as in any other case required by relevant legislation, Hyzon disclaims any obligation to replace any forward-looking statements, all of that are expressly certified by the statements on this part, to mirror occasions or circumstances after the date of this press launch. Hyzon cautions you that these forward-looking statements are topic to quite a few dangers and uncertainties, most of that are troublesome to foretell and lots of of that are past the management of Hyzon, together with dangers and uncertainties described within the “Threat Elements” part of Hyzon’s Annual Report on Kind 10-Ok for the yr ended December 31, 2021 filed with the U.S. Securities and Change Fee (the “SEC”) on March 30, 2022, our Amended Registration Assertion on Kind S-1 filed with the SEC on April 6, 2021, and different paperwork filed by Hyzon sometimes with the SEC. These filings determine and handle different vital dangers and uncertainties that might trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Hyzon offers no assurance that Hyzon will obtain its expectations.
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SOURCE Hyzon Motors Inc.
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