Hyzon Motors Inc., a global supplier of hydrogen fuel cell-powered heavy vehicles, signed a strategic collaboration agreement with Sojitz Machinery Corporation of America (SMA) to partner in penetrating new markets and exploring the development of new fuel cell-powered commercial mobility applications.
This comes ahead of Hyzon’s proposed business combination with Decarbonization Plus Acquisition Corporation, a publicly-traded special purpose acquisition company (SPAC), that would result in Hyzon becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions.
SMA is a subsidiary of the Sojitz Group, a global distributor of machinery and equipment headquartered in Tokyo, Japan. Sojitz Group has established new policies and targets to fulfill its commitment for realizing a decarbonized society as announced in Sojitz’s long-term sustainability vision alongside Japan’s broader commitment to reduce CO2 emissions by up to 50% by 2030.
The strategic relationship between Hyzon and SMA is designed to connect Hyzon’s hydrogen fuel cell-powered heavy vehicles and leading fuel-cell technologies with Sojitz customers and suppliers, enabling access to new markets and helping warehouse and logistics businesses decarbonize their operations. Hyzon and Sojitz will also jointly explore possibilities to bring new fuel cell-powered machinery to market, including forklifts.