Hyzon Motors Inc. (NASDAQ: HYZN) congratulates its partner, Hiringa Refuelling New Zealand ("Hiringa") for commencing the construction phase of the first four high-capacity green hydrogen refueling stations for zero-emission heavy fuel cell electric vehicles (FCEVs). These stations are expected to form the first part of a nationwide refueling network, shifting the New Zealand heavy transport sector towards decarbonization.

Hyzon Motors, a leading global supplier of zero-emissions hydrogen-powered commercial FCEVs, plans to supply the initial 20 fuel cell electric trucks to underpin the network. Working with Hiringa under a Heads of Agreement, the first 55-ton Hyzon trucks are specified to meet New Zealand regulations and the demanding road conditions. Capable of driving over 370 miles (600km) between refueling stops, the trucks' range capabilities are similar to existing diesel-based offerings.

Hyzon's vehicle deployment will be facilitated by TR Group, New Zealand's largest heavy vehicle fleet owner. TR Group will own and lease the Hyzon trucks to several leading logistics companies and their end customers. The locations of the initial four refueling network stations have been strategically selected to provide coverage for the major heavy freight routes in New Zealand's North Island.

The Hiringa program has benefitted from the New Zealand Government's investment of over $12 million (NZ$16m) and its support of decarbonizing heavy transport through hydrogen. These investments build on Hiringa Energy's Strategic Alliance Agreement with Mitsui and Co. (Asia Pacific) Pte Ltd, and the memorandum of cooperation on hydrogen between Japan and New Zealand.

"Transitioning heavy transport to zero-emissions requires alignment across the hydrogen ecosystem, and Hiringa has been an exceptional partner in strategically selecting and connecting companies which represent the entire value chain," said Hyzon CEO and Co-Founder Craig Knight. "Hyzon recognizes the collaborative approach necessary to reduce emissions in this hard-to-abate industry, and congratulates Hiringa on this important step towards decarbonizing New Zealand's heavy transport sector."

In addition to the first four stations in Auckland, Hamilton, Tauranga, and Palmerston North, Hiringa has announced that it plans to bring over 24 high-capacity hydrogen refueling stations online across New Zealand in the next 4-5 years to support a growing fleet of fuel cell electric vehicles.

As a founding member of the Hyzon Zero Carbon Alliance, a consortium of leading companies working to accelerate hydrogen-powered mobility worldwide, Hiringa's experience developing this hydrogen vehicle and refueling network will inform future deployments globally. The 11 member companies, including TotalEnergies, Bank of America, and AXA, will leverage Hiringa's guidance, accelerating the transition to hydrogen adoption.

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, including statements about future orders or the pace of hydrogen refuelling station development in New Zealand, 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, 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.