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Company type | Public |
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Nasdaq: HYZN | |
Industry | Automotive |
Founded | March 2020 as spin off from Horizon Fuel Cell Technologies, founded in 2003 [1] |
Headquarters | Rochester, New York , United States |
Key people | |
Products | Hydrogen vehicle, heavy duty truck, Medium duty truck, bus, fuel cell systems |
Website | hyzonmotors |
Hyzon Motors Inc. was an American automotive company based in Rochester, New York. Hyzon developed and manufactured hydrogen fuel cell systems and supplied zero-emission heavy-duty fuel cell electric vehicles. It had offices in the United States, the Netherlands, Australia, and China. [2] Hyzon began being publicly traded through a SPAC merger in 2021, which was expected to raise about $626 million for the company. [3] Hyzon delivered 87 fuel cell heavy trucks in 2021. [4] Hyzon issued a notice in December 2024 that it is unable to continue its operations, and began dissolving the company. [5]
Hyzon Motors was founded in 2020 as a spin-off of Singapore-based Horizon Fuel Cell Technologies, which was founded in 2003 with a focus on developing fuel-cell-powered trucks and buses. [6]
In 2021, Hyzon Motors went public with a SPAC merger with Decarbonization Plus Acquisition Corporation. [7]
In June 2022, Hyzon received its zero-emission certification from the California Air Resources Board for its Class 8, 7, and 6 Repowers. That same month Hyzon announced a collaboration with oil field services company Schlumberger Limited, aiming to reduce emissions in upstream oil and gas operations through the use of high-power fuel cells. [8]
Parker Meeks was appointed President and interim CEO in August 2022, and CEO in March 2023. [9]
In November 2023, Hyzon completed its first commercial journey to Texas with its liquid hydrogen truck. [10] In June 2023, Hyzon partnered with Performance Food Group to deliver 5 fuel-cell electric vehicles fitted with Hyzon Class 8 110kW fuel cell systems. Additional vehicles will be fitted with Hyzon’s next-generation single 200kW fuel cell system. [11]
Hyzon Montors launched in 2024 a hydrogen-powered garbage truck. [12]
Hyzon issued a notice in December 2024 that it is unable to continue its operations, and began dissolving the company. [5]
A fuel cell is an electrochemical cell that converts the chemical energy of a fuel and an oxidizing agent into electricity through a pair of redox reactions. Fuel cells are different from most batteries in requiring a continuous source of fuel and oxygen to sustain the chemical reaction, whereas in a battery the chemical energy usually comes from substances that are already present in the battery. Fuel cells can produce electricity continuously for as long as fuel and oxygen are supplied.
A hydrogen vehicle is a vehicle that uses hydrogen to move. Hydrogen vehicles include some road vehicles, rail vehicles, space rockets, forklifts, ships and aircraft. Motive power is generated by converting the chemical energy of hydrogen to mechanical energy, either by reacting hydrogen with oxygen in a fuel cell to power electric motors or, less commonly, by hydrogen internal combustion.
Ballard Power Systems Inc. is a developer and manufacturer of proton exchange membrane (PEM) fuel cell products for markets such as heavy-duty motive, portable power, material handling as well as engineering services. Ballard has designed and shipped over 400 MW of fuel cell products to date.
The Hyundai Motor Group is a South Korean chaebol headquartered in Seoul, South Korea.
The hydrogen economy is an umbrella term for the roles hydrogen can play alongside low-carbon electricity to reduce emissions of greenhouse gases. The aim is to reduce emissions where cheaper and more energy-efficient clean solutions are not available. In this context, hydrogen economy encompasses the production of hydrogen and the use of hydrogen in ways that contribute to phasing-out fossil fuels and limiting climate change.
A fuel cell vehicle (FCV) or fuel cell electric vehicle (FCEV) is an electric vehicle that uses a fuel cell, sometimes in combination with a small battery or supercapacitor, to power its onboard electric motor. Fuel cells in vehicles generate electricity generally using oxygen from the air and compressed hydrogen. Most fuel cell vehicles are classified as zero-emissions vehicles. As compared with internal combustion vehicles, hydrogen vehicles centralize pollutants at the site of the hydrogen production, where hydrogen is typically derived from reformed natural gas. Transporting and storing hydrogen may also create pollutants. Fuel cells have been used in various kinds of vehicles including forklifts, especially in indoor applications where their clean emissions are important to air quality, and in space applications. Fuel cells are being developed and tested in trucks, buses, boats, ships, motorcycles and bicycles, among other kinds of vehicles.
An electric truck is a battery electric vehicle (BEV) designed to transport cargo, carry specialized payloads, or perform other utilitarian work.
A hydrogen-powered aircraft is an aeroplane that uses hydrogen fuel as a power source. Hydrogen can either be burned in a jet engine or another kind of internal combustion engine, or can be used to power a fuel cell to generate electricity to power an electric propulsor. It cannot be stored in a traditional wet wing, and hydrogen tanks have to be housed in the fuselage or be supported by the wing.
The Toyota FCHV is a hybrid hydrogen fuel cell vehicle development programme of the Toyota Motor Corporation, which was leased to a limited number of drivers in the United States and Japan beginning in 2002. The Toyota FCHV and Honda FCX, which began leasing on 2 December 2002, became the world's first government-certified commercial hydrogen fuel cell vehicles. Its first commercial fuel cell vehicle was developed from the FCHV-4, which was adapted from the Toyota Highlander body. "FCHV" stands for "Fuel Cell Hybrid Vehicle". A number of prototypes have been produced, up to the latest FCHV-adv ("advanced").
A hydrogen ship is a hydrogen fueled ship, using an electric motor that gets its electricity from a fuel cell, or hydrogen fuel in an internal combustion engine.
A fuel cell bus is a bus that uses a hydrogen fuel cell as its power source for electrically driven wheels, sometimes augmented in a hybrid fashion with batteries or a supercapacitor. The only emission from the bus is water. Several cities around the world have trialled and tested fuel cell buses, with over 5,600 buses in use worldwide, the majority of which are in China.
A hydrogen internal combustion engine vehicle (HICEV) is a type of hydrogen vehicle using an internal combustion engine that burns hydrogen fuel. Hydrogen internal combustion engine vehicles are different from hydrogen fuel cell vehicles. Instead, the hydrogen internal combustion engine is simply a modified version of the traditional gasoline-powered internal combustion engine. The absence of carbon means that no CO2 is produced, which eliminates the main greenhouse gas emission of a conventional petroleum engine.
ITM Power plc is an energy storage and clean fuel company founded in the UK in 2001. It designs, manufactures, and integrates electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen using renewable electricity and tap water. Hydrogen produced via electrolysis is used for mobility, Power-to-X, and industry.
REV Group, Inc. is an American manufacturer of ambulances, buses, commercial vehicle, firefighting vehicles, recreational vehicles and other specialty vehicles, as well as aftermarket parts and services. It provides vehicles and services for public fire departments and emergency services, as well as commercial infrastructure and leisure vehicles for consumers.
Nikola Corporation is an American manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions. It presented several concept vehicles from 2016 to 2020, the first of which was a natural gas fueled turbine-electric semi truck. The company went public on June 4, 2020. In February 2022, the company projected deliveries of between 300 and 500 of its first battery-electric semitrucks — known as the Nikola Tre — to customers. The company delivered its first two battery-electric trucks in December 2021. Like Tesla, Inc., the company is named in honor of Nikola Tesla, but these are not related to the inventor. Nikola Corporation is based in Phoenix, Arizona.
The Hyundai Xcient is a South Korean truck made by Hyundai Motor Company. It was presented at the Seoul Motor Show 2013 as the successor of Hyundai Trago.
The decarbonization of shipping is an ongoing goal to reduce greenhouse gas emissions from shipping to net-zero by or around 2050, which is the goal of the International Maritime Organization (IMO). The IMO has an initial strategy. This includes the practice of lowering or limiting the combustion of fossil fuels for power and propulsion to limit emission of carbon dioxide. Additional measures include the development of alternative fuels such as green ammonia, hydrogen, and biofuels to reduce reliance on fossil fuels.
First Mode is a multinational decarbonization company that designs, manufactures, and distributes hybrid battery systems and hydrogen fuel cell technologies for heavy duty mining and rail vehicles, along with hydrogen refueling equipment. The company has operations in Australia, Europe, North America and South America.