Hyzon Motors’ Break-Through eAxle Technology to Enable High-Efficiency Hydrogen and Battery Trucks

  • Hyzon Motors has developed an eAxle with up to 97% motor-to-wheel efficiency, reducing loss by up to 40%
  • The new eAxle achieves world-class performance through innovations in the gear system, differential and motor integration
  • The company’s next generation aerodynamic class 8 trucks outfitted with these eAxles target 950kW peak power and a 19.7 mpge at full load over the CARB HHDDT drive cycle

May 26, 2021, Rochester, NY: Hyzon Motors Inc. (“Hyzon” or “the Company”), a leading global supplier of zero-emission hydrogen fuel cell powered commercial vehicles, today announced the development of a new eAxle design which provides extremely high efficiency for 6×4 Class-8 commercial vehicles. This break-through innovation comes ahead of Hyzon’s public listing via a definitive business combination agreement with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB, DCRBW).

Hyzon’s eAxle eliminates right-angle hypoid gears, and uses one motor per wheel with optimized performances both at low speed and high speed. Paired with a virtual differential, the design achieves efficiency of up to 97%, compared to industry-standard 95%. The eAxle can reduce the motor-to-wheel loss as much as 40%, and further allows full torque regenerative braking. With this innovation, Hyzon expects to incorporate in its next generation Class-8 heavy trucks an all-in-one electric powertrain that can be maintained easily and at a low cost, while providing best-in-class performance with an estimated electrical fuel economy of up to 19.7 mpge at full load over the CARB HHDDT drive cycle.

Hyzon expects the driving performance of its Class-8 heavy trucks to outpace competing EVs, with a peak power of 950kW, ability to climb 20+% grades, a 0-60 acceleration rate of less than 20 seconds with a fully loaded trailer, and speeds up to 75 mph governed electronically. Hyzon expects to achieve this by using specialized motors in each tandem, which will combine to produce the impressive efficiency levels. Additionally, Hyzon’s eAxle may create a significant weight reduction, crucial to maintaining payload levels for both battery vehicles and hydrogen vehicles. The technology is currently pending patent.

Hyzon expects to manufacture eAxles for its hydrogen fuel cell powered heavy- and medium-trucks in its US facilities, with initial sample models ready for deployment next year.

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 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.

Participants in the Solicitation

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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