Hyzon Announces New 50 Tonne Fuel Cell Truck Orders with Leading Dutch Transport Companies, Jan Bakker and Millenaar & van Schaik

  • Hyzon signs definitive purchase agreements to supply a total of up to 20 hydrogen fuel cell powered trucks with subsidiaries of Jan Bakker Transport and Millenaar & van Schaik
  • Hyzon expects to deliver up to three trucks in 2021, followed by the remaining trucks in 2022
  • Trucks will be assembled out of Hyzon’s European facility in the Groningen area of the Netherlands

May 28, 2021, Rochester, NY and Groningen, Netherlands: Hyzon Motors Inc. (“Hyzon” or “the Company”), a leading global supplier of zero-emission hydrogen fuel cell powered commercial vehicles, today announced it has entered into definitive purchase agreements with subsidiaries of major Dutch transport companies Jan Bakker B.V (“Jan Bakker”) and Millenaar & van Schaik B.V. (“Millenaar & van Schaik”) to supply a total of up to 20 hydrogen fuel cell powered trucks. This comes ahead of Hyzon’s public listing via a definitive business combination agreement with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB, DCRBW).

Hyzon expects to deliver up to three vehicles in Q4 of 2021, and to deliver the remaining trucks in 2022. The vehicles, HyMax 450 Tractors built on a class-8 DAF truck chassis, are expected to have up to 520 km per refill with motor power up to 550 kW capacity. Hyzon expects to manufacture the trucks in its European facility in the Groningen area of the Netherlands, where orders are being taken for deliveries of Hyzon-branded commercial vehicles worldwide. The trucks have been purchased by Duurzaam Transport B.V., a subsidiary of Jan Bakker, and H2 Transport B.V., a subsidiary of Millenaar & van Schaik.

Jan Bakker counts 17 companies in the corporate family, operating in transport, energy, and agricultural trade. Millenaar & van Schaik is one of the largest asphalt transport companies in the Netherlands. Both companies are committed to sustainable practices and utilizing renewable energy sources such as wind and solar. Implementing Hyzon’s FCEVs extends this commitment along their truck routes.

Craig Knight, Hyzon CEO, said, “We are excited to be engaging with transport and logistics organizations like Jan Bakker and Millenaar & van Schaik, to bring hydrogen fuel cell powered trucks to the Netherlands. These contracts further underline the interest in Hyzon’s products in the European market, where we have seen strong uptake in zero-emission heavy vehicles.”

Forward-Looking Statements

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, 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 Exhibit 99.3 of DCRB’s Current Report on Form 8-K filed with the SEC on February 9, 2021, the “Risk Factors” section of DCRB’s preliminary proxy statement on Schedule 14A filed with the SEC on March 17, 2021, as amended on May 14, 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, such as risks related to the ability to convert non-binding memoranda of understanding into binding orders or sales (including because of the current or prospective financial resources of the counterparties to Hyzon’s non-binding memoranda of understanding and letters of intent), or the ability to identify additional potential customers and convert them to paying customers. Hyzon gives no assurance that Hyzon will achieve its expectations.

Important Information for Investors and Stockholders

In connection with the proposed business combination, DCRB filed a proxy statement and other relevant documents with the SEC. Stockholders and other interested persons are urged to read the proxy statement and any other relevant documents filed with the SEC because they contain important information about DCRB, Hyzon and the proposed business combination. Stockholders may obtain a free copy of the proxy statement, as well as other filings containing information about DCRB, Hyzon and the proposed business combination, without charge, at the SEC’s website located at www.sec.gov.

DCRB, Hyzon and their directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from DCRB’s stockholders in respect of the proposed business combination and the other matters set forth in the proxy statement. Information regarding DCRB’s directors and executive officers is available in DCRB’s Annual Report on Form 10-K for the annual period ended December 31, 2020 and under the heading “Information About DCRB” in DCRB’s preliminary proxy statement related to the Proposed Business Combination filed with the SEC on March 17, 2021, as amended on May 14, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is set forth in the proxy statement relating to the proposed business combination.

Hyzon Motors Contacts

For US, Europe and Asia Media: Brian Brooks

H+K Strategies

713-752-1901 brian.brooks@hkstrategies.com


For Australasian Media: Fraser Beattie Cannings Purple

+61 421 505 557 fbeattie@canningspurple.com.au


For Investors:

Caldwell Bailey ICR, Inc. HyzonMotorsIR@icrinc.com

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