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.