Hyzon Motors Announces Partnership with Raven SR to Build Waste-to-Hydrogen Hubs - PRNewswire

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ROCHESTER, N.Y. and PINEDALE, Wyo., April 27, 2021 /PRNewswire/ -- Hyzon Motors Inc. ("Hyzon"), a leading global supplier of zero-emission hydrogen fuel cell-powered commercial vehicles, today announced a memorandum of understanding (MOU) for a joint venture with Raven SR LLC ("Raven SR"), a renewable fuels company. Pursuant to the MOU, the companies expect to build up to 100 hydrogen production hubs ("hubs") across the United States and globally. In connection with this partnership, Hyzon has agreed to acquire a minority interest in Raven.

Each hub is expected to convert organic waste in nearly every form, constituting almost all the waste produced globally, into locally-produced, renewable hydrogen for Hyzon's zero-emission commercial vehicles.

Raven SR owns a strong portfolio of patents for its conversion process, which enables it to be one of the only combustion-free, waste-to-hydrogen processes in the world. Unlike alternative approaches to waste disposal, such as incineration or gasification, Raven SR's Steam/CO₂ reformation process involves no combustion, as confirmed by the State of California EPA. This avoids the creation of toxic pollutants and particulates while still producing more hydrogen per ton of waste than competing processes, and is expected to generate a carbon emissions profile that is superior to comparable waste-to-hydrogen technologies .

The hubs are planned to be built at landfills and are expected to power garbage trucks as well as other classes of heavy-duty trucks. The first hubs are planned to be built in California before expanding into the rest of the US and globally.

Solving the waste problem and cost of hydrogen problem in one go

Matt Murdock, CEO of Raven, said:

"Our planet produces over 5.5 million tons of municipal solid waste and 16.5 million tons of agricultural waste every single day. Theoretically, if we were to convert all of this waste, we could produce over 2 million tons of renewable hydrogen per day – enough to satisfy over 25% of total global oil demand. Currently, most waste is dumped into landfills or burned, which is extremely polluting to both air quality and other parts of our environment.

"Over two decades have been spent developing Raven's completely combustion-free process that can input any kind of mixed carbonaceous waste, dependably converting that into consistently hydrogen-rich syngas which then produces more hydrogen per ton of waste than other processes. Raven can also easily process natural and renewable gases alone or combined with solid waste. Most importantly, we are excited to roll out this leading technology with Hyzon, one of the fastest growing hydrogen mobility companies in the industry."

Raven SR's technology produces more hydrogen per ton of waste than any competitor

Each hub will contain Raven's patented Steam/CO₂ reformation process, a non-combustion, low atmospheric and catalyst-free process that converts all types of solid waste into renewable syngas and then into green hydrogen with costs that are similar to hydrogen produced using hydrocarbons, so-called "gray" hydrogen. In California, the hydrogen produced through Raven's process is expected to benefit from the state's Low Carbon Fuel Standard (LCFS), allowing Hyzon to sell hydrogen to third parties at extremely competitive prices.

The initial hubs are expected to process 50 tons of solid waste daily, per hub, and are expected to yield up to 4.5 tons of renewable green hydrogen each, enough hydrogen from each hub to power 100 heavy-duty commercial vehicles. Future hubs may be able to scale to five times larger to accommodate sites with higher hydrogen requirements.

100 hydrogen hubs can power 10,000 heavy-duty trucks a day

Craig Knight, CEO and Co-Founder of Hyzon Motors, said:

"Hyzon aims to be one of the first companies to supply our customers with a hydrogen fuel cell truck, including our own garbage trucks, at total cost of ownership (TCO) parity with diesel-powered commercial vehicles. With our leading fuel cell technology, we are working closely with partners to scale up hydrogen production in the US and globally. In Raven, we see a technology that is highly efficient in waste conversion, scalable and mobile, enjoying a low cost of hydrogen and most importantly, capable of producing the quantity of green hydrogen that our vehicles will need. One hundred hydrogen hubs could convert over 5,000 tons of waste per day and power over 10,000 trucks."

The first hub is planned to be built in the San Francisco Bay Area, and is expected to be commissioned in 2022.

About Hyzon Motors Inc.
Headquartered in Rochester, NY and with operations in Europe, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility. Hyzon is a pure-play hydrogen mobility company with an exclusive focus on hydrogen in the commercial vehicle market. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to produce zero-emission commercial vehicles for customers in North America, Europe, and across the world. The company is contributing to the escalating adoption of hydrogen vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com.

As announced on February 9, 2021, Hyzon has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB), 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, and is expected to occur in the second quarter of 2021.

About Raven SR
Raven SR, headquartered in Wyoming, transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels. Using its proprietary, non-combustion, non-catalytic "Steam/CO2 Reformation" technology Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Raven SR, led by co-founders Matt Murdock and Matt Scanlon, is committed to adding value to local resources and communities while responsibly reducing greenhouse gases and achieving a low carbon economy. By using modular systems and producing low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act. All statements, other than statements of present or historical fact included in this press release, including those regarding Decarbonization Plus Acquisition Corporation's ("DCRB") proposed acquisition of the Company and DCRB's ability to consummate the transaction, 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, DCRB and the Company disclaim 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. DCRB and the Company caution 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 either DCRB or the Company, including risks and uncertainties described in the "Risk Factors" section of DCRB's Preliminary Proxy Statement on Schedule 14A filed with the SEC on March 17, 2021 and other documents filed by DCRB 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.

Hyzon Motors Contacts

For US, Europe and Global Media:
Brian Brooks
H+K Strategies
713.752.1901
[email protected]

For Australasian Media:
Fraser Beattie
Cannings Purple
+61 421 505 557
[email protected]

For Investors:
Caldwell Bailey
ICR, Inc.
[email protected]

SOURCE Hyzon Motors