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Hyzon Motors to collaborate with Transform Materials on renewable hydrogen production

DGAP-News: Hyzon Motors Inc. Hyzon Motors to collaborate with Transform Materials on renewable hydrogen production 19.01.2022 / 14:30 The issuer is solely responsible for the content of this announcement. Hyzon Motors to collaborate with Transform Materials on renewable hydrogen production

ROCHESTER, N.Y. - January 19, 2022 - Hyzon Motors Inc. (NASDAQ: HYZN), a leading supplier of hydrogen-powered fuel cell electric vehicles, today announced a non-binding memorandum of understanding (MoU) with Transform Materials, a provider of renewable hydrogen through its innovative proprietary microwave reactor technology. Together, Hyzon and Transform Materials will evaluate proposals to develop facilities to produce low-to-negative carbon intensity hydrogen from various forms of methane, prioritizing biogas and renewable natural gas.

Through Transform Material's proprietary technology, these facilities (acting as hubs) can be built to produce hydrogen efficiently-even at small scales of 1-5 tons/day-offering modular construction that allows capacity to grow as customer demand increases. Transform's technology to be employed in these projects produces hydrogen as a co-product with acetylene, providing significantly advantaged hydrogen cost structures.

'Hyzon believes the key to decarbonizing transport in the near-term requires overcoming the hydrogen infrastructure challenges,' said Parker Meeks, Hyzon's Chief Strategy Officer. 'Our solution is to co-invest in facilities that produce low-cost hydrogen at small volumes, and which can be built in a matter of months. By coordinating these facilities with existing and developing customer interest, we can accelerate the deployment of our zero-emissions, hydrogen-powered vehicles.'

Additionally, Transform's technology can generate carbon solids such as acetylene black or graphene, providing for useful carbon capture while yielding significantly negative carbon-intensity products, particularly when utilizing biogas as the feedstock. Hyzon will evaluate opportunities to utilize the carbon solids Transform produces in Hyzon truck materials, such as battery and carbon fiber production, offering further circular economy opportunities in Hyzon's operations.