Energy major Total leads strategic investment into supplier of hydrogen fuel-cell powered commercial vehicles HYZON Motors
Hydrogen mobility and clean energy company, HYZON Motors, and Total Carbon Neutrality Ventures, the venture capital arm of European energy giant Total SE, announced a strategic investment led by Total and other specialist hydrogen investors. HYZON Motors is a global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles, including heavy-duty trucks, buses and coaches.
The Horizon Fuel Cell group had already deployed around 400 fuel cells in commercial vehicles in 2019 before spinning off HYZON Motors in early 2020.
Established as a spin-off from Singapore-headquartered Horizon Fuel Cell Technologies Pte Ltd, Hyzon commercializes Horizon’s 17 years of hydrogen technology development for applications in the transportation sector.
Australia’s Fortescue Metals Group recently teamed up with HYZON Motors to build a new fleet of hydrogen buses.
Earlier this year, Hyzon expanded existing operations by opening its new US headquarters and Engineering Center at the former General Motors fuel cell facility in Honeoye Falls, New York. Hyzon also launched its European operations in the Dutch city of Groningen with JV partner Holthausen Clean Technology.
With production facilities in North America, Europe and Asia, Hyzon expects to deliver around 5,000 fuel cell trucks and buses over the next three years. By 2025, Hyzon’s expected turn-key capacity will be more than 40,000 fuel cell vehicles annually.
Over the past 17 years, the HYZON founding team have been fully focused on developing our own proton-exchange membrane (PEM) fuel cell technology, the engine of any hydrogen-powered vehicle, with the aim of producing the world’s most advanced fuel cell and the world’s most powerful yet cleanest heavy vehicles. While we already have around 400 buses and trucks on the road with our fuel cells today, the global appetite for zero-emission heavy vehicles has grown significantly and Hyzon is now ramping operations to meet this demand.
Building out hydrogen mobility technology and assets is a long game and requires significant partnerships. This is why we are pleased to welcome today our new investors and their support for accelerating the energy transition in mobility. In particular, we are delighted to welcome global energy company Total, a leader in the energy transition. As an investor and strategic partner, their experience, technology and infrastructure to supply clean energy, including hydrogen, around the world will be important to the success of HYZON.—Craig Knight, CEO and Co-Founder of HYZON Motors
Other investors in this round include Ascent Hydrogen Fund, Hydrogen Capital Partners and Audacy Ventures Ltd.