Hyzon Motors Inc., a leading global supplier of zero-emission hydrogen fuel cell-powered heavy vehicles, today announced it has signed a strategic collaboration agreement with Sojitz Machinery Corporation of America to partner in penetrating new markets and exploring the development of new fuel cell-powered commercial mobility applications. This comes ahead of Hyzon’s proposed business combination with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB), a publicly-traded special purpose acquisition company (SPAC), as announced on February 9, 2021, that would result in Hyzon becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions.
SMA is a subsidiary of the Sojitz Group, a world-class global distributor of machinery and equipment headquartered in Tokyo, Japan. Sojitz Group has established new policies and targets to fulfil its commitment for realizing a decarbonized society as announced in Sojitz’s long-term sustainability vision alongside Japan’s broader commitment to reduce CO2 emissions by up to 50% by 2030.
The strategic relationship between Hyzon and SMA is designed to connect Hyzon’s hydrogen fuel cell-powered heavy vehicles and leading fuel-cell technologies with Sojitz customers and suppliers, enabling access to new markets and helping warehouse and logistics businesses decarbonize their operations. Hyzon and Sojitz will also jointly explore possibilities to bring new fuel cell-powered machinery to market, including forklifts.
Craig Knight, CEO and Co-Founder of Hyzon, said:
“As the global energy transition takes hold, hydrogen has rapidly become the preferred fuel for a multitude of applications. We are excited to partner with Sojitz to look at providing the world’s largest retailers, manufacturers, warehouses, distribution centers and logistics companies with zero-emission vehicles and a viable path to decarbonize their operations. This collaboration presents an opportunity to scale our core business of hydrogen powered heavy vehicles while potentially building new offerings in complementary areas that bring additional value to customers.”
Tadashi Miyazaki, President of SMA said:
“Our partnership with Hyzon Motors, which will help Sojitz Machinery of America and our customers decarbonize commercial mobility, is timely and supportive of Sojitz Group’s larger goal to achieve carbon neutrality by 2050. We look forward to a close relationship with Hyzon to bring its leading hydrogen fuel cell technologies to an increasing range of commercial applications, as the North American hydrogen mobility story gains pace. We are excited for the possibilities that collaboration between Sojitz and Hyzon can enable for clean commercial mobility – both in North America and globally.”
About Hyzon Motors Inc.
Headquartered in Rochester, NY and with operations in Europe, 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 its proven and proprietary hydrogen fuel cell technology, Hyzon aims to produce zero-emission commercial vehicles for customers in North America, Europe, and across 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 Sojitz Machinery Corporation of America
Sojitz Machinery Corporation of America (SMA) is a subsidiary of Sojitz Corporation, and is 80% owned by Sojitz Machinery Corporation and 20% owned by Sojitz Corporation of America. SMA is specialized to handle all production machinery equipment in North and South America. Recently SMA is enhancing the field of advanced technology development of mobilities, such as battery cells and fuel cells, plastic recycling and contributing to reducing running cost so that its customers can be more productive and competitive. SMA is trying to contribute to make a better and enriched society through trading production machinery equipment and its parts.
About Sojitz Corporation
Sojitz Corporation is an integrated global trading company with approximately $15 billion in revenue. Headquartered in Tokyo, Sojitz Corporation consists of approximately 400 subsidiaries and affiliates located in Japan and throughout the world, developing wide-ranging general trading company operations in a multitude of countries and regions, and over 20,000 employees around the world. Sojitz Group has established new policies and targets to fulfill its commitment for realizing a decarbonized society as announced in Sojitz’s long-term sustainability vision for 2050, the “Sustainability Challenge”, aiming to realize net-zero carbon emissions by 2050.