• The Class 8 fuel cell-powered electric refuse collection vehicle heads next to Recology in California to showcase its zero-emissions and operational capabilities

LAS VEGAS, May 7, 2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN), a U.S.-based, leading hydrogen fuel cell technology developer and global supplier of zero-emission powertrains and New Way Trucks, a privately held industry-leading refuse truck body manufacturer, are showcasing North America's first hydrogen fuel cell-powered electric refuse truck at Waste Expo, May 7-9 at the Las Vegas Convention Center.

This debut to the U.S. market follows February's announcement of the Joint Development Agreement (JDA) between New Way and Hyzon, combining both companies' expertise and industry leadership to develop a premier zero-emission refuse collection solution.

"Building on Hyzon's fuel cell electric refuse vehicle experience in Australia, Hyzon and New Way's strategic partnership assembled a historic vehicle to eliminate emissions within a hard-to-abate industry," said Hyzon Chief Executive Officer Parker Meeks. "This is evidence of our shared mission to provide North American refuse collection fleets with an alternative power solution that both meets zero emissions requirements and performs the hard work a refuse truck needs to deliver day in and day out."

Through this partnership, Hyzon and New Way have been able to make the hydrogen fuel cell electric refuse collection vehicle a reality for the North American waste and recycling industry.

"As a growing market leader with a long history in building high-performance refuse collection equipment, New Way is in a unique position to be able to bring this sustainable, alternative power solution to waste haulers looking to meet decarbonization objectives and other clean energy requirements," said New Way Chief Sales Officer Don Ross.

At Waste Expo, visitors to booth #1341 will see proof of the hydrogen-powered electric refuse collection vehicle concept. Hyzon's high-performance hydrogen fuel cells are tough enough to provide consistent power over 125 miles, including up to 1,200 cart lifts and trips to the transfer station. Combine that with the strength and durability of New Way's most-requested automated side loader – the Sidewinder XTR™ -- with smooth arm operation, up to a 12-foot reach and large 6-cubic-yard hopper for an unstoppable, sustainable refuse collection powerhouse. Another feature in the booth is a 200kw fuel cell display, along with an animation that showcases how hydrogen fuel cell technology works and a fact sheet on the New Way and Hyzon Fuel Cell Electric Vehicle (FCEV) and vehicle specifications.

Both New Way and Hyzon look forward to further technology and performance development with the Class 8 FCEV as more information is gathered during customer demonstrations occurring throughout the rest of 2024. After Waste Expo, the truck will test on routes in California starting with Recology, the San Francisco-based hauler. Recology is an employee-owned solid waste and recycling collection and processing company with a commitment to sustainable operations at its core.

Recology has long shown its commitment to sustainable transportation — the company recently achieved its goal to power its fleet with more than 90 percent renewable or alternative fuels — and now sees the demo of this first-of-its-kind hydrogen-powered truck as an opportunity to be on the forefront of helping decarbonize the industry.

"As a leader in fleet sustainability, we're proud to partner with New Way and Hyzon to bring the first hydrogen fuel cell electric collection vehicle to test in our communities in California," said Recology CEO Sal Coniglio. "Recology has been preparing to transition our fleet to zero emission vehicles for nearly six years, and we've yet to see a hydrogen fuel cell powered refuse truck on the market during that time. This development is a major milestone, and we're thrilled to be the first to demo this technology to help move our business and the industry forward."

About Hyzon

Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon focuses on deploying its fuel cell technology in heavy-duty commercial vehicles across North America, Europe, and Australia/New Zealand today and in tomorrow's power generation and energy storage, mining, construction, rail, marine, and airport ecosystems. To learn more about how Hyzon partners across the hydrogen value chain to accelerate the clean energy transition, visit www.hyzonfuelcell.com.

About New Way Trucks

New Way Trucks is the largest privately held refuse collection equipment manufacturer in North America. New Way's product lineup features top-performing rear loaders, front loaders and automated side loaders, including the industry-leading Sidewinder XTR™, ROTO PAC®, with our exclusive self-cleaning auger, and the small but mighty Wolverine™ – no CDL required. New Way Trucks engineers and builds advanced, dependable, sustainable refuse collection products that best meet what waste haulers need, along with offering top-quality OEM parts and unmatched support and service through our nationwide distributor network. Visit www.newwaytrucks.com to learn more.

About Recology

Recology is a 100 percent employee-owned integrated resource recovery company providing collection, recycling, curbside composting and outreach and education to customers throughout California, Oregon and Washington. Recology finds new ways to recycle and compost what was once considered waste, collecting and recovering recyclables to be repurposed into new products. Recology has more than 3,800 employees and serves 136 communities.

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 "aims," "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, including statements relating to the possibility of adoption of FCEVs by the refuse industry and Hyzon's beliefs and expectations regarding technology and the performance and capabilities of fuel cells and FCEVs, 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 Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the "SEC") on March 22, 2024, 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. Hyzon gives no assurance that Hyzon will achieve its expectations.