Hyzon Motors Inks Hydrogen Production Hub Development Deal With TC Energy

  • Hyzon Motors Inc HYZN has entered a modular hydrogen production hub development agreement with TC Energy Corp TRP. The financial terms of the deal were not disclosed.
  • The hubs will be used to meet hydrogen fuel cell electric vehicle demand by focusing on low-to-negative carbon intensity hydrogen from renewable natural gas, biogas, and other sustainable sources.
  • The facilities will be located close to demand, supporting Hyzon back-to-base vehicle deployments.
  • The parties will evaluate sites across multiple states and provinces across North America to develop hydrogen production facilities with the goal of hydrogen delivery to fuel heavy-duty vehicles. 
  • TC Energy will operate the hubs, supply the power and gas commodities, and provide asset development, management services, and power and gas sales marketing.
  • Price Action: HYZN shares are trading higher by 2.47% at $6.02 on the last check Wednesday.
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