Hyzon Motors to establish Australian Headquarters

Melbourne, Australia

--News Direct--

Hyzon Motors Inc. HYZN, Melbourne will be home to Hyzon Motors Australia's headquarters, under a new partnership agreement between the RACV and Hyzon, a global leader in zero-emissions hydrogen powered commercial vehicles.

Under the agreement, Hyzon Motors in conjunction with the RACV at their Noble Park location, will develop a purpose-built facility including corporate offices, showroom, assembly warehousing and workshop, expected to generate over 100 localized engineering and manufacturing jobs by 2025, with hundreds more indirect jobs expected through the supply chain.

The partnership also includes a first order of hydrogen powered vehicles for RACV-owned subsidiary Nationwide Group, the first order of such vehicles for a Towing company in Australia. These will be trialed by Nationwide Group on arrival which is scheduled for end 2022.

Hyzon Motors is expected to deliver three locally manufactured Hyzon HyMax TT7 tilt-tray trucks and one of Hyzon's fully imported HyMax prime movers, to the Nationwide Group.

Managing Director for Hyzon Motors in Australia and New Zealand, John Edgley, said today's announcement was exciting news not just for the local economy, but for Australia's energy transition aspirations and the manufacturing jobs of the future.

"We are focused on generating new jobs, new manufacturing and technology facilities, and a fundamentally new industry in Australia and New Zealand, that will underpin a sustainable future for the region," Mr Edgley said.

"With governments across Australia and New Zealand shifting their focus towards hydrogen as a cost-competitive and zero-emission fuel source, Hyzon stands ready to support and partner on key projects and initiatives.

"Hyzon has already hit the ground running in the region, with scheduled 2022 deliveries including coaches to Fortescue Metals in Western Australia, Prime movers to Coregas in NSW and TR Group in New Zealand, Road train prime movers to Ark Energy in Queensland and the HyMax GSL garbage trucks with Superior Pak across the region.

"The opportunity to partner and work with the RACV, a trusted brand, across the home, motoring, mobility, energy and leisure sectors is an exciting prospect for our business."

RACV Chief Executive Officer, Neil Taylor, said the partnership with Hyzon Motors aligned with the company's objective to support a cleaner energy future.

"RACV is a strong supporter of the transition to a cleaner energy future. We have a purchase power agreement with Snowy Hydro which covers all our company owned sites in Victoria, are a major and fast-growing player in the Solar Installation Market via RACV Solar and have other investments in Cleaner Energy such as Chargefox, Restart EV and have installed Solar Power at all RACV Victorian Resorts," Mr Taylor said.

"We see building a bigger portfolio of Cleaner Energy assets and businesses as a strong part of RACV's future, both within Victoria and across Australia.

"Our partnership with Hyzon Motors is the first of its kind in Victoria and will generate new local jobs and contribute significantly to a cleaner energy future over many years to come.

Nationwide Group Chief Executive Officer, Michael Stephenson, said the business was excited to be exploring how hydrogen can play a part in the future of road transport in Australia.

"Nationwide is keen to assess the performance of these vehicles in a real-world test for towing and transport and is thrilled to be part of this new industry leading partnership," Mr Stephenson said.

About Hyzon

Hyzon is a global leader in fuel cell electric mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in the Netherlands, China, Singapore, Australia, and Germany. Hyzon is an energy transition accelerator and technology innovator, providing end-to-end solutions primarily for the commercial mobility sector with a focus on the commercial vehicle market and hydrogen supply infrastructure. 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 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. Hyzon gives no assurance that Hyzon will achieve its expectations.

For Australia/New Zealand media inquires:

Murray Newton

External Relations Manager – Hyzon ANZ

0433 947 150

Murray.Newton@hyzonmotors.com