22 April 2021
The Hyzon Zero Carbon Alliance will mobilize fleet operators and industry to forge partnerships that create viable ecosystems and lifecycle solutions to accelerate the adoption of hydrogen vehicles worldwide
Through cooperation and collaboration, members will work together to advance the hydrogen mobility sector and support the realization of a cleaner, more sustainable transport future for society
Rochester, New York: Hyzon Motors Inc. (“Hyzon”), a leading global supplier of zero-emission hydrogen fuel cell powered commercial vehicles, is pleased to announce the Hyzon Zero Carbon Alliance (the “Alliance”), a new collaboration of leading companies in various industries that are committed to advancing the deployment of hydrogen mobility worldwide and helping the environment.
Ark Energy (a subsidiary of Korea Zinc), AXA, Bank of America, Hiringa Energy, Modern Group, NEOM, Raven SR, ReCarbon and Total, along with Hyzon, will work together as the initial members of the Alliance to drive the development of hydrogen mobility supply chains globally and help to eliminate emissions in the hard-to-evade sector of commercial transport.
The Alliance will utilize the collective expertise, resources and capability of its members to foster knowledge and innovation, identify priority projects, create business models and support delivery of attractive solutions enabling customers to viably make the transition to cleaner hydrogen fuel cell commercial vehicles.
Bringing together a supply chain of product and service offerings is critical to the realization of a global hydrogen mobility sector. Together, the group of leading financiers, insurers and energy companies, along with global innovation hub NEOM, will support the development of hydrogen ecosystems with the aim of accelerating the energy transition and deliver its benefits to global consumers as swiftly as possible.
As a uniquely demand-led initiative, the Alliance will capitalize on its direct access to fleet operators worldwide to create hydrogen ecosystems in parallel with vehicle deployments. By aligning the supply and demand side of the sector, the Alliance is designed to overcome some of the biggest hurdles faced by the hydrogen industry to date, making zero-emission fleet operations a reality in the very near term.
George Gu, Chairman and Co-Founder of Hyzon Motors, remarked: “Through the Hyzon Zero Carbon Alliance, we will work with partners to expand the deployment of zero-emission hydrogen fuel cell powered heavy vehicles globally and continue leading the hydrogen transition.
“We are incredibly excited to be working with leading companies committed to the energy transition who recognize the potential of hydrogen commercial mobility as an essential pathway to a net-zero transport sector.”
Comments from members
Daniel Kim, Chief Executive Officer, Ark Energy Corporation: “It’s a great honour for Ark Energy to be invited to join the Hyzon Zero Carbon Alliance. We’re keen to work closely with Hyzon and other members to develop hydrogen mobility supply chains in Australia and support customers make the transition to hydrogen mobility. As hydrogen moves from being a future fuel to an everyday fuel, we plan to leverage our experience on SunHQ, to roll out additional hydrogen hubs across Queensland and become a major domestic hydrogen producer ahead of our ultimate goal of becoming a green hydrogen exporter.”
Alexis de Schonen, Director of Partnerships at AXA, in France: “AXA is thrilled to accompany this initiative and contribute to the decarbonization of the transportation industry. Being part of the Alliance will allow us to understand in depth the specific needs of this industry and of its customers, and offer the most relevant insurance policies, risk mitigation procedures and services”.
Derek Heckendorn, Head of North America Renewables Banking, Managing Director at BofA Securities: “The Hyzon Zero Carbon Alliance will help to spur innovation, collaboration and partnership across the industry as well as scale hydrogen mobility technology and advancement. This Alliance will play an important role in helping to accelerate the transition to a net zero transportation sector.”
Andrew Clennett, CEO at Hiringa Energy: “We are very excited to be joining with industry leaders across the globe who are committed to the adoption of hydrogen solutions. If our last five years of hydrogen supply chain development has taught us anything, it’s that collaboration and alliances such as the ZCA are critical in unlocking the potential of hydrogen to accelerate the transition away from fossil fuel powered transport.”
Abdulaziz F. AI Hamwah, Chief Executive Officer at Modern Group, stated: "Modern sees a great potential in the renewable energy sector. Specifically, the hydrogen economy in Saudi is growing exponentially with the recent announcement from the Ministry of Energy stating the Kingdom’s ambition to become the world’s largest supplier of hydrogen. With Hyzon as a partner, who is a global leader in the hydrogen space, and leveraging on the Saudi government’s incentives for renewable projects, Modern is strategically positioned to move forward into this industry.”
Roland Kaeppner, Executive Director, Hydrogen & Green Fuels, NEOM: “NEOM will be one of the world’s leading green hydrogen development hubs. We’re committed to innovation across all aspects of the hydrogen economy and we are particularly keen to contribute to the development of the hydrogen mobility sector through this important alliance, for NEOM and also for the Kingdom of Saudi Arabia. We look forward to collaborating with all members to accelerate change.”
Matt Murdock, CEO at Raven SR: "From the beginning when I first met George Gu, we shared the dream of local mobility combined with local renewable fuels. The creation of the Alliance builds on that vision, combining the strength and experience of each member towards a robust solution to restore our ecosystem and develop clean mobility projects worldwide. We look forward to the future."
Dr. Jay Kim, CEO and Founder of ReCarbon, Inc.: “ReCarbon, Inc. is proud to be a part of this collaborative global network of companies and organizations all working together, towards a hydrogen enabled mobility sector. Our partnership with Hyzon Motors has been mutually beneficial and highly synergistic thus far, and we expect the Zero Carbon Alliance to create the sense of community and open cooperation that is essential to move the hydrogen economy to the next level.”
John Wilson, Vice President, Gas Mobility at the Marketing and Services branch of Total: “At Total, we are convinced that hydrogen is a mobility solution of the future. That is why Total Carbon Neutrality Ventures invested in Hyzon Motors and we are committed to developing hydrogen stations for trucks in Europe, and beyond. Becoming a member of the Hyzon Zero Carbon Alliance is another step towards our Climate Ambition to reach Net Zero emissions by 2050 together with society.”
The Hyzon Zero Carbon Alliance is an open, collaborative platform with membership opportunities for those organizations willing and able to contribute to the objectives and goals of the initiative. To learn more, see hyzonalliance.com.
About the Hyzon Zero Carbon Alliance
The Hyzon Zero Carbon Alliance is a collaborative initiative that will drive scale, speed and cooperation while bringing down costs of hydrogen through harnessing the power of a united industry approach. By bringing together best in class players from across the hydrogen value chain and supporting sectors, the Alliance provides a platform within which industry will collaborate to develop hydrogen ecosystems and offer mobility as a service to hydrogen transport customers.
To be established as a nonprofit membership-based entity, the Alliance will specifically identify and target opportunities across priority regions worldwide based on customer demand. It will support in the development of an increasingly widespread distribution infrastructure, establish models that result in replicable project deployment and enable greater volumes of hydrogen vehicles on the road with the aim to accelerate the energy transition.
About the companies involved
About Ark Energy
Ark Energy Corporation Pty Ltd is an Australian subsidiary of Korea Zinc Co., Ltd., which is the largest zinc producer in the world. Ark Energy’s mandate is to decarbonise the energy supply of Korea Zinc group starting with the Sun Metals zinc refinery in Townsville, Queensland, which aims to be the first refinery in the world to produce green zinc.
Ark Energy’s mission is to be the most competitive producer of green hydrogen in the world. We also plan to be an extreme user of hydrogen which means that we’ll look for ways to make hydrogen pervasive across the group’s businesses. Our first hydrogen hub, SunHQ, will be co-located with the Sun Metals zinc refinery and produce green hydrogen to initially supply a fleet of five 140 tonne rated Hyzon fuel cell prime movers which Ark Energy will lease to our sister company ahead of supplying green hydrogen to third party customers.
The AXA Group is a worldwide leader in insurance and asset management, with 153,000 employees, serving 105 million clients in 54 countries, with the purpose to “act for human progress by protecting what matters”. AXA strategic plan “Driving Progress 2023” is underpinned by five key strategic actions, among which to sustain AXA’s climate leadership position.
About Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community,consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com.
About Hiringa Energy
Established in 2016, Hiringa Energy is the first company in New Zealand dedicated to the supply of green hydrogen, and providing zero-emission solutions for industry, the public sector, and transport operators. Together with partners, Hiringa is developing one of the world’s first nation-wide hydrogen refuelling networks in New Zealand. Hiringa is also partnering with industry and regions to develop high impact industrial scale and export scale green hydrogen projects.
About Hyzon Motors
Headquartered in Rochester, NY and with operations in Europe, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility. Hyzon is led by co-founders George Gu, Craig Knight and Gary Robb and is a differentiated, pure-play, independent mobility company with an exclusive focus on hydrogen in the commercial vehicle market. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon will produce zero emission heavy duty trucks and buses for customers worldwide. 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.
As announced on February 9, 2021, Hyzon has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB), a publicly-traded special purpose acquisition company (SPAC) that would result in Hyzon becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions, and is expected to occur in the second quarter of 2021.
About Modern Group
The Modern Industrial Investment Holding Group "Modern Group", is a diversified industrial company based in Riyadh, Kingdom of Saudi Arabia, with principal businesses in various sectors such as civil explosives, petrochemicals, mining, steel, aluminium, healthcare, and renewable energy. It aims to leverage Saudi Arabia’s National Industrial Development Strategy anchored by natural endowments of crude oil, petrochemicals, mining, and renewable energy sources. Companies under the Modern Group are all privately held and are in joint venture with publicly listed best-in-class international market leaders. It works closely with its partners, frequently transcending sectoral and geographical boundaries.
NEOM is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. NEOM will be the home and workplace to more than a million residents from around the world. It will include cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in ground-breaking ways.
Email firstname.lastname@example.org or visit www.neom.com and newsroom.neom.com.
About Raven SR
Raven SR is a US-based company that transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels. Using its proprietary, non-combustion, non-catalytic “Steam/CO2 Reformation” technology Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Since the process does not combust its feedstock, Raven produces more clean fuels – hydrogen or FT fuels – than similar systems, and because Raven uses mixed and multiple wastes, the environment is cleaned by reducing waste going into landfills, and the GHGs coming out of them. By using modular systems and significantly low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility.
ReCarbon, Inc. is a carbon emissions utilization technology company based in Santa Clara, California. Its revolutionary and disruptive modular Plasma Carbon Conversion Unit (PCCU) is a microwave plasma driven gas processing technology which efficiently converts greenhouse gases, such as carbon dioxide and methane, into hydrogen and syngas. The PCCU is a sustainable, scalable, configurable, and economical system that produces renewable hydrogen from biogas and syngas products from carbon dioxide emissions. ReCarbon also enables onsite on-demand hydrogen production. ReCarbon, Inc. was founded in 2011 by Dr. Jay Kim, CEO, who leads a world-class team, with the company experiencing rapid growth and recognition for the superior techno-economics that the PCCU provides in its target applications.
Total is a broad energy company that produces and markets fuels, natural gas and 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.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act. 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 the Company and DCRB's ability to consummate the transaction, and customer plans and expectations 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 the Company 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 the Company 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 the Company, including risks and uncertainties described in the "Risk Factors" section of DCRB's Preliminary Proxy Statement on Schedule 14A filed with the SEC on March 17, 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. Hyzon gives no assurance that Hyzon will achieve its expectations.
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