Road warrior: Hyzon Motors passes durability test for Australian mining company, delivering the world's first hydrogen-powered coach fleet

ROCHESTER, N.Y., June 22, 2021 /PRNewswire/ -- Hyzon Motors Inc. and its hydrogen fuel cell-powered coaches are ready to conquer the harsh mining landscape of Western Australia.

Hyzon, a leading global supplier of zero-emission, hydrogen fuel-cell vehicles, announced today that its transport coaches completed a 15,000-kilometer durability road test – a key tryout before one of the world's largest iron-ore producers uses the vehicles in the remote Pilbara region.

Fortescue Metals Group has contracted for up to 10 of Hyzon's custom-built coaches in the Christmas Creek mining hub, where summer temperatures commonly exceed 110 degrees. The endurance road test demonstrated the capability, effectiveness and strength of fuel cell stacks being discharged and recharged repetitively in harsh conditions.

The Hyzon-Fortescue collaboration is the latest sign of increasing industrial and commercial transition to hydrogen mobility and it comes as New York-based Hyzon readies for a public listing soon on Nasdaq via business combination with Decarbonization Plus Acquisition Corp. (NASDAQ: DCRB). 

Fortescue expressed interest in Hyzon's proprietary fuel cell technology using hydrogen gas – for which emissions are limited to water vapor – to replace a fleet of diesel vehicles for transporting workers around remote mining sites. The switch is an integral part of the resource company's plans to reduce emissions, diversify its energy mix and become carbon neutral by 2030. The Hyzon coaches for Fortescue will mark the world's first hydrogen-powered coach fleet.

Hyzon CEO Craig Knight said that passing the durability phase - the equivalent of driving more than seven times straight from New York to Miami - demonstrated anew that its vehicles are clean, powerful and uniquely suited for long haul and high utilization back-to-base transport. The coaches have a range up to 800km before refueling.

"We applaud Fortescue Metals Group for its continued commitment to a zero-emission future and we look forward to playing a key role in its transition to hydrogen mobility," Knight said. "The Pilbara region, one of the most prolific mining areas of Australia and the world, is a harsh landscape. Our coaches can handle the rugged terrain, and hydrogen technology can serve as a viable alternative to traditional commercial mobility in even the toughest parts of the globe." 

At current estimates, Australia has about 2,000 coaches, and the Hyzon vehicles will be the first in the country using hydrogen-powered fuel cell technology. The global coach and bus market tops $87.5 billion.

About Hyzon Motors Inc. 
Headquartered in Rochester, N.Y., with U.S. operations also in Chicago and Detroit, and international operations in the Netherlands, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility. Hyzon is a pure-play hydrogen mobility company with an exclusive focus on hydrogen in the commercial vehicle market. Utilizing 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. The company is contributing to the escalating adoption of hydrogen vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com. 

About Fortescue Metals Group 
A proud West Australian company, Fortescue Metals Group is a global leader in the iron ore industry, recognised for its culture, innovation and industry-leading development of world class infrastructure and mining assets. Underpinned by its strong operating performance and balance sheet, Fortescue Metals Group is reinvesting in the business, returning capital to shareholders and investing in growth. Together with Fortescue Future Industries, Fortescue Metals Group is focused on supporting the global energy transition, harnessing the world's renewable energy sources to produce green hydrogen and develop other green industry opportunities.

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 February 9, 2021, the "Risk Factors" section of DCRB's 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.

Important Information for Investors and Stockholders
In connection with the proposed business combination, DCRB filed a proxy statement and other relevant documents with the SEC. Stockholders and other interested persons are urged to read the proxy statement and any other relevant documents filed with the SEC because they contain important information about DCRB, Hyzon and the proposed business combination. Stockholders may obtain a free copy of the proxy statement, as well as other filings containing information about DCRB, Hyzon and the proposed business combination, without charge, at the SEC's website located at www.sec.gov.

Participants in the Solicitation
DCRB, Hyzon and their directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from DCRB's stockholders in respect of the proposed business combination and the other matters set forth in the proxy statement. Information regarding DCRB's directors and executive officers is available in DCRB's Annual Report on Form 10-K for the annual period ended December 31, 2020, and under the heading "Information About DCRB" in DCRB's proxy statement related to the proposed business combination filed with the SEC on June 21, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is set forth in the proxy statement relating to the proposed business combination.

Hyzon Motors contacts 
For U.S., Europe and Asia media:  
Caroline Curran 
Hill+Knowlton Strategies 
+1 256-653-5811
caroline.curran@hkstrategies.com 

For Australasian media: 
Fraser Beattie 
Cannings Purple 
+61 421 505 557 
fbeattie@canningspurple.com.au

For investors: 
Caldwell Bailey 
ICR, Inc. 
HyzonMotorsIR@icrinc.com  

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SOURCE HYZON Motors