ROCHESTER, N.Y. and
HOUSTON, Nov. 10, 2021 /PRNewswire/ -- Hyzon Motors
Inc. (NASDAQ: HYZN), (Hyzon) a leading supplier of
hydrogen-powered fuel cell electric vehicles, and TC Energy
Corporation (TSX, NYSE: TRP), (TC Energy), today announced an
agreement to collaborate on development, construction, operation,
and ownership of hydrogen production facilities (hubs) across
North America.
The hydrogen production facilities will be used to meet hydrogen
fuel cell electric vehicle demand by focusing on low-to-negative
carbon intensity hydrogen from renewable natural gas, biogas and
other sustainable sources. The facilities will be located close to
demand, supporting Hyzon back-to-base vehicle deployments.
"Through this agreement we are marrying the expertise of TC
Energy in natural gas and renewables with that of Hyzon, which
has its technology in fuel cell electric vehicles being delivered
around the world today," said Corey
Hessen, TC Energy's Senior Vice President and President,
Power and Storage. "TC Energy is committed to exploring and
developing energy solutions in North
America for our own assets as well as those of customers to
meet their energy transition needs. We believe we are well
positioned to execute on the development of hydrogen and
CO2 pipelines."
Under the agreement, the companies will evaluate sites across
multiple states and provinces to develop hydrogen production
facilities with the goal of hydrogen delivery to fuel heavy duty
vehicles. The hubs will be prioritized near existing and potential
customer demand with a goal to produce up to 20 tonnes of hydrogen
per hub per day. TC Energy will operate the hubs, supply the power
and gas commodities, and provide asset development, management
services, and power and gas sales marketing.
"By partnering with TC Energy on modular hydrogen production
hubs from a range of sustainable production feedstocks close to
Hyzon fleet deployments we can fully decarbonize mobility at a very
low cost and time to build," said Parker
Meeks, Chief Strategy Officer, Hyzon Motors Inc. "This
agreement is just one of the many steps and strategic partnerships
that Hyzon Motors will be announcing in the coming months to
confirm our ability to bring clean hydrogen infrastructure to
market with our vehicles in the very near term."
Currently, Hyzon and TC Energy are evaluating near-term
potential hydrogen hub production sites in a number of states, tied
to prospective fleet customer deployments. In addition to Hyzon
vehicle customers, the partnership will jointly market third-party
hydrogen volumes to industrial sectors, power generation and energy
distribution.
Utilizing existing partnerships with modular hydrogen technology
partners, such as Raven SR and ReCarbon, TC Energy
and Hyzon look to site hydrogen hubs to
serve Hyzon fleet deployments, enabling unique speed to
market for low-cost, low-to-negative carbon intensity hydrogen
infrastructure development. This also complements TC Energy's
strong renewable natural gas interconnections and pipeline
network.
About Hyzon
Headquartered in Rochester, N.Y., with U.S. operations in the
Chicago and Detroit areas, and international operations in
the Netherlands, Singapore, Australia, Germany, and China, Hyzon is a leader in fuel cell electric
mobility with an exclusive focus on the commercial vehicle market,
and a near-term focus on back to base (captive fleet) operations.
Utilizing its proven and proprietary hydrogen fuel cell technology,
Hyzon aims to supply zero-emission heavy duty trucks and buses to
customers in North America,
Europe and around the world to
mitigate emissions from diesel transportation, which is one of the
single largest sources of carbon emissions globally. The Company is
contributing to the escalating adoption of fuel cell electric
vehicles through its demonstrated technology advantage, leading
fuel cell performance and history of rapid innovation. Visit
www.hyzonmotors.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of present or historical fact
included in this press release, 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 include but are
not limited to expectations pertaining to hydrogen hub production
targets and customer demand , and 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, Hyzon disclaims 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. Hyzon cautions 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 Hyzon, including risks and
uncertainties described in the "Risk Factors" section of
Hyzon's definitive proxy statement on Schedule 14A filed with the
U.S. Securities and Exchange Commission (the "SEC") on June 21, 2021, as amended, our Registration
Statement on Form S-1 filed with the SEC on July 30, 2021, and other documents filed by Hyzon
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.
About TC Energy
We are a vital part of everyday life -
delivering the energy millions of people rely on to power their
lives in a sustainable way. Thanks to a safe, reliable network
of natural gas and liquids pipelines, along with power generation
and storage facilities, wherever life happens — we're there. Guided
by our core values of safety, responsibility, innovation,
collaboration and integrity, our 7,500 people make a positive
difference in the communities where we operate across Canada, the U.S. and Mexico.
TC Energy's common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the
symbol TRP. To learn more, visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATION
This release contains
certain information that is forward-looking and is subject to
important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this document are intended to
provide TC Energy security holders and potential investors with
information regarding TC Energy and its subsidiaries, including
management's assessment of TC Energy's and its subsidiaries' future
plans and financial outlook. All forward-looking statements reflect
TC Energy's beliefs and assumptions based on information available
at the time the statements were made and as such are not guarantees
of future performance. As actual results could vary significantly
from the forward-looking information, you should not put undue
reliance on forward-looking information and should not use
future-oriented information or financial outlooks for anything
other than their intended purpose. We do not update our
forward-looking information due to new information or future
events, unless we are required to by law. For additional
information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the
anticipated results, refer to the most recent Quarterly Report to
Shareholders and Annual Report filed under TC Energy's profile on
SEDAR at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov .
Media contacts
Hyzon Motors
hyzon@kivvit.com
For investors:
Darla Rivera
Hyzon Motors Inc
IR@hyzonmotors.com
TC Energy Media Inquiries:
Jaimie Harding / Jennifer Link
media@tcenergy.com
403-920-7859 or 800-608-7859
TC Energy Investor & Analyst
Inquiries:
David Moneta /
Hunter Mau
investor_relations@tcenergy.com
403-920-7911 or 800-361-6522
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SOURCE Hyzon