Hyzon Motors Inc., a leading global supplier of zero-emission hydrogen fuel cell-powered heavy vehicles, 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.
“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.”said Craig Knight, CEO and Co-Founder of Hyzon,
“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.”said Tadashi Miyazaki, President of SMA