Horizon Fuel Cell Technologies

Hyzon becomes latest SPAC-backed startup to crash

Even with a stream of positive news releases, the signs and warnings for Hyzon were there. Now reality has arrived: Fuel cell developer Hyzon Motors is the latest startup to give up after going public during the SPAC craze of 2020-2021.

Hyzon fought through numerous obstacles, including a $25 million fine from the Securities and Exchange Commission related to fabricating orders for hydrogen-powered commercial trucks in China.

The spinoff of Singapore’s Horizon Fuel Cell Technologies chased the...

https://www.freightwaves.com/news/hyzon-becomes-latest-spac-backed-startup-to-crash

Hyzon focuses on US fuel cell market for survival

In its brief four-year history, Hyzon Motors has experienced far more stormy than sunny days. As it struggles to survive, the commercial fuel cell manufacturer is focusing on the U.S., where it sees hydrogen and zero-emission refuse trucks worth pursuing.

Chasing the SPAC money

A spinoff of Singapore-based Horizon Fuel Cell Technologies, Hyzon went public in July 2021 in a reverse merger with special purpose acquisition company Decarbonization Plus Acquisition Corp. It received $550 million in...

https://www.freightwaves.com/news/hyzon-focuses-on-us-fuel-cell-market-for-survival

Outrider hiring globally for launch of autonomous distribution yards

Outrider Inc. founder and CEO Andrew Smith is the very definition of deliberate. Each robotic advance his company has made to a dangerous or dirty job in a distribution yard builds on another. Since raising $73 million in a Series C round in January, he’s been growing his team.

“While a lot of folks were pulling back on developing their teams, we’ve continued to build out Outrider’s leadership position in both safety technology and deep learning, or AI, for industrial systems,” Smith told me...

https://www.freightwaves.com/news/outrider-hiring-globally-for-launch-of-autonomous-distribution-yards

Hyzon Motors agrees to $25M SEC fine to settle fraud case

Hyzon Motors agreed to pay a $25 million Securities and Exchange Commission fine to settle a fraud case over inflated claims about its fuel cell truck business.

Two former executives, including the founding CEO, also agreed to repay compensation received from the company. Two executives agreed to personally pay fines to the securities agency.

According to the SEC’s complaint, Hyzon:

  • Misrepresented the status of its business dealings with potential customers and suppliers to suggest significant...

https://www.freightwaves.com/news/hyzon-motors-agrees-to-25m-sec-fine-to-settle-fraud-case

Fuel cell truck maker Hyzon Motors increases risk of Nasdaq delisting

Hydrogen fuel cell truck maker Hyzon Motors, subject of a Securities and Exchange Commission investigation, missed filing its third-quarter financial report, putting its stock at greater risk of being delisted from the Nasdaq.

It is the second consecutive quarter that the spinoff of Singapore-based Horizon Fuel Cell Technologies missed the exchange’s deadline for filing its quarterly report. This time, Nasdaq issued three deadlines Hyzon must meet to continue trading.

Nasdaq issues 3 deadlines...

https://www.freightwaves.com/news/fuel-cell-truck-maker-hyzon-motors-increases-risk-of-nasdaq-delisting

Hyzon Motors ousts CEO Craig Knight as financial probe continues

Head shot of Parker Meeks

Hyzon Motors has ousted CEO Craig Knight because of a financial quagmire over how the trucking fuel cell maker reported revenue in China and managed internal financial controls.

Parker Meeks, most recently Hyzon’s chief strategy officer, was named president and interim CEO effective immediately. Knight also was removed as a company director. The board plans to search for a new CEO externally and internally.

“Parker Meeks has the depth and breadth of experience in the energy, infrastructure and...

https://www.freightwaves.com/news/hyzon-motors-ousts-ceo-craig-knight-as-financial-probe-continues

ACT Expo: Exclusive first ride in Hyzon hydrogen-powered fuel cell truck

CARSON, Calif. — Is this thing running?

The fuel cell powertrain in the Hyzon Motors Class 8 Freightliner 2022 Cascadia-based demonstration truck is so quiet that a windows-down ride on Interstate 405 in Southern California allowed shouting-free conversation. 

Oh, and the truck emits no pollution, tailpipe or otherwise. Post-drive water vapor under the parked truck doesn’t count. It could be consumed, but it would taste icky.

Water vapor is the only emission from Hyzon Motors’ Class 8...

https://www.freightwaves.com/news/act-expo-exclusive-first-ride-in-hyzon-hydrogen-powered-fuel-cell-truck

Hyzon Motors plans fuel cell material production facility near Chicago

Hyzon Motors plans to make a key component of fuel cell powertrains for commercial vehicles at a new facility near Chicago. It expects to break a bottleneck to producing hydrogen-powered fuel cell vehicles in the U.S.

Hyzon is a spinoff of Singapore-based Horizon Fuel Cell Technologies. It is rapidly expanding after agreeing to merge with shell company Decarbonization Plus Acquisition Corp. (NASDAQ: DCRB) in February. The business combination is expected to close in the second quarter. through...

https://www.freightwaves.com/news/hyzon-motors-plans-fuel-cell-material-production-facility-near-chicago

Fuel cell startup Hyzon Motors appears in line for SPAC windfall

Fuel cell startup Hyzon Motors Inc. appears in line for a cash windfall from a special purpose acquisition company (SPAC) as soon as this week. It would join a parade of electric vehicle makers and infrastructure companies getting their businesses funded by eager investors.

SPACs sometimes are called blank-check companies because investors pile in money without knowing the merger target.

Hyzon is a spinoff of Singapore’s Horizon Fuel Cell Technologies, which has sold thousands of fuel cells in...

https://www.freightwaves.com/news/fuel-cell-startup-hyzon-motors-appears-in-line-for-spac-windfall

Singapore spinoff Hyzon Motors makes US fuel cell trucking play

In the early 2000s, General Motors envisioned hundreds of thousands of fuel cell-powered vehicles on the road by 2010. Its research and development facility in the village of Honeoye Falls, New York, would be the nerve center of the ambitious plan. 

It never happened. Instead, GM produced a few prototypes and 120 retrofitted Chevrolet Equinox SUVs used for two-week loans to consumers and businesses to acquaint them with driving on hydrogen power.

GM shut down the facility near Rochester in 2012....

https://s29755.pcdn.co/news/singapore-spinoff-hyzon-motors-makes-us-fuel-cell-trucking-play