Hyzon Motors deployed 19 vehicles under commercial agreements as of Dec. 31

As of December 31, 2023, Hyzon deployed 19 vehicles under commercial agreements to customers in 2023, towards the upper end of its annual guidance range of 15-20 vehicles. Of those vehicles, five were deployed in the U.S. to both drayage and large fleet customers, three in Europe, and 11 in Australia. In Q4 2023, as a part of the 19 deployments, the Company also announced the commercial trial deployment of its first fuel cell electric waste collection truck to REMONDIS Australia. The four month trial completed successfully, and Hyzon is working with REMONDIS to transfer ownership of the truck to REMONDIS under the existing commercial agreement. The Company announced sale and delivery of a heavy-duty FCEV in the United States to a U.S. drayage customer operating at the ports of Los Angeles and Long Beach, California, marking Hyzon’s entry into the U.S. drayage market in Q4 2023. Hyzon also delivered four FCEVs to leading food distributor and supplier, PFG, in December 2023. Contingent upon a successful trial with Hyzon’s 200kW FCEV, Hyzon and PFG plan to collaborate on an agreement for 15 200kW FCEVs, with an option for an additional 30 FCEVs. Hyzon entered into a revised commercial agreement with TR Group, New Zealand’s largest heavy-duty truck fleet owner, for up to 20 FCEVs upfit with Hyzon’s single stack 200kW fuel cell system. Following the initial commercial trial, TR Group has an option to purchase the two trial trucks as well as to upfit another 18 trucks with Hyzon’s 200kW fuel cell systems.