Holthausen Clean Technology Investments, a private limited liability company based in the Netherlands, has engaged into a common stock purchase agreement with Hyzon Motors.
According to the terms of the Agreement, Hyzon will pay Holthausen €5.52 million in exchange for one million, 485,00 (1,485,000) shares in Hyzon Motors Europe, a joint venture that operates as a private limited liability company established in the Netherlands. Hyzon will then own all outstanding shares of Hyzon Europe following the transaction.
The management team at Hyzon is still committed to commercializing a single initial heavy-duty truck platform, delivering its core fuel cell technology in a standardized leading cabover FCEV, and achieving the zero emission commercial trucking goals of its clients in the European region. Holthausen will keep providing speciality trucks with zero emissions.
The deal is anticipated to be finalized on or before December 31, 2022.