French broad energy company Total leads strategic investment into HYZON Motors

Author: HYZON Motors / 2023-07-26 18:27 / Source: HYZON Motors

French broad energy company Total leads strategic investment into HYZON Motors

-Hyzon Motors is a global supplier of hydrogen fuel-cell powered commercial vehicles,including heavy duty trucks,buses and coaches

-Investment will support Hyzon's manufacturing and engineering centers in HoneoyeFalls(New York),Groningen(Netherlands)and Shanghai (China)

PARIS and NEW YORK,Oct. 10,2020 -- Hydrogen mobility and clean energy company,HYZON Motors,and Total Carbon Neutrality Ventures,the venture capital arm of European energy giant Total SEtoday announced astrategic investment ledby Total and other specialisthydrogen investors.As part of Total's ambitionto get to net-zero emissions by 2050together with society,Total Carbon Neutrality Ventures is focused on finding,funding and fostering technology and solutions that contribute to creating a low carbon future.

HYZON Motors is a global supplier of hydrogen fuel cell-powered commercial vehicles,buses and coaches. Established as a spin-off from Singapore-headquarteredHorizon Fuel Cell TechnologiesPte Ltd,Hyzon commercializesHorizon's17 years of hydrogen technologydevelopmentfor applications in thetransportation sector.

Earlier this year,Hyzon expandedexisting operations by opening itsnew US headquartersand Engineering Centerat the former General Motors fuel cell facilityin HoneoyeFalls,New York. Hyzon also launched its European operationsin the Dutch city of Groningenwith JV partner HolthausenClean Technology.

With production facilities in North America,Europe and Asia,Hyzon expects to deliver around 5,000 fuel cell trucks and buses over the next threeyears.By 2025,Hyzon's expected turn-keycapacity will be more than40,000 fuel cell vehiclesannually.

Craig Knight,CEO and Co-Founder of HYZON Motors,commented:

"Over the past 17 years,the HYZON founding team have been fully focused on developing our own proton-exchange membrane (PEM) fuel cell technology,the 'engine' of any hydrogen-powered vehicle,with the aim of producing the world's most advanced fuel cell and the world's most powerful yet cleanest heavy vehicles. While we already have around 400 buses and trucks on the road with our fuel cells today,the global appetite for zero-emission heavy vehicles has grown significantly and Hyzon is now ramping operations to meet this demand.

"Building out hydrogen mobility technology and assets is a long game and requires significant partnerships.This is why we are pleased to welcome today our new investors and their support for accelerating the energy transition in mobility. In particular,we are delighted to welcome global energy company Total,a leader in the energy transition. As an investor and strategic partner,their experience,technology and infrastructure to supply clean energy,including hydrogen,around the world will be important to the success of HYZON."

Girish Nadkarni,Chief Executive Officer at Total Carbon Neutrality Ventures,said:

"Total Carbon Neutrality Ventures invests in early stage companies which support Total's ambition to get to net-zero emissions by 2050,together with society. Its investments allow us to expand the reach of our low carbon- businesses beyond our own borders.

"About a decade ago,Total has set up the H2 Mobility joint venture,alongside other industry partners,to develop the hydrogen mobility ecosystem. Since then,we have developed several H2-related mobility projects,mainly in Europe. Building on this experience,Total is now moving forward in decarbonizing not only mobility -and notably heavy-duty transport- but also industry and energy.

"We are pleased to partner with Hyzon,one of the leading suppliers of hydrogen fuel-cell powered commercial vehicles and look forward to working closely with them as they expand their operations around the world."

Other investors in this round include Ascent Hydrogen Fund,Hydrogen Capital PartnersandAudacy Ventures Ltd.

French broad energy company Total leads strategic investment into HYZON Motors

HYZON Motors is a global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles,buses and coaches.

French broad energy company Total leads strategic investment into HYZON Motors

The Horizon Fuel Cell group already deployed around 400 fuel cells in commercial vehicles in 2019 before spinning off HYZON Motors in early 2020.

French broad energy company Total leads strategic investment into HYZON Motors

Australia’s Fortescue Metals Group recently teamed up with HYZON Motors to build a new fleet of Hydrogen buses.

About HYZON Motors Inc (www.hyzonmotors.com)

HYZON Motors Inc is a US-headquartered hydrogen vehicle company on a mission to help operators of heavy vehicles transition to cost effective,zero emission,sustainable operations. HYZON achieves this by offering attractive economics with no compromise onperformance.

HYZON has made significant commercial progress in Europe,Asia and Australia. The company anticipates its novel zero emission mobility model will expand in global markets over the next few years.

About Total (https://www.ventures.total/en)

Total is a broad energy company that produces and markets fuels,natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable,more reliable,cleaner and accessible to as many people as possible. Active in more than 130 countries,our ambition is to become the responsible energy major.

For global media enquiries,please contact:

Warrick Hazeldine

Fraser Beattie

Cannings Purple

+61 417 944 616

+61 421 505 557

whazeldine@canningspurple.com.au

fbeattie@canningspurple.com.au

For US media enquiries,please contact:

Brian Brooks

H+K Strategies

+1 713 752 1901