October 22, 2024 - $Hyzon Motors (HYZN.US)$ shares surged 72.54% to $3.33 in pre-market trading on Tuesday. The company announced it has entered into a purchase agreement for North America’s first 12 hydrogen-powered refuse Fuel Cell Electric Vehicles.
Hyzon, a U.S.-based manufacturer of high-performance hydrogen fuel cell systems, has announced a purchase agreement to deliver North America’s first 12 hydrogen-powered refuse Fuel Cell Electric Vehicles (FCEVs) to GreenWaste®, a pioneer in recycling and innovation. The agreement is contingent on Hyzon satisfying specific commercial terms and specifications. This development highlights Hyzon's commitment to providing zero-emission power to help decarbonize demanding industries.
Additionally, Hyzon has recently launched the Start of Production (SOP) for its innovative single-stack 200kW Fuel Cell System (FCS), allowing for the mass production of standardized FCSs for commercial use, further advancing the decarbonization of heavy-duty transportation.
The refuse collection FCEVs will be produced in partnership with New Way Trucks, a leading manufacturer in the refuse truck sector. This collaboration combines New Way's expertise in refuse collection with Hyzon's focus on zero-emission technology, making the introduction of hydrogen fuel cell electric refuse collection vehicles a reality in North America. Deliveries of these pioneering FCEVs to GreenWaste are anticipated to begin in Q4 2025, marking a significant step forward in sustainable waste management solutions.
About Hyzon
Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, the most abundant natural element, and a clean energy source. Hyzon is focusing on deploying its fuel cell technology in heavy-duty commercial vehicles in Class 8 and refuse collection vehicles across North America, as well as new markets such as stationary power applications.
About GreenWaste
GreenWaste’s mission is to focus on innovation, people and commitment to be green first to revolutionize how we transform the world’s waste. GreenWaste specializes in the collection and processing of residential and commercial solid waste, recyclable materials, organic materials and construction and demolition debris. GreenWaste’s current and predecessor companies have been innovation pioneers in the recycling industry for almost four decades.
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