Hyzon Motors and Sojitz Machinery Corporation of America have signed a strategic collaboration agreement to collaborate on penetrating new markets and developing new fuel cell-powered commercial mobility applications.
The strategic partnership between Hyzon and SMA aims to connect Sojitz customers and suppliers to Hyzon’s hydrogen fuel cell-powered heavy vehicles and leading fuel-cell technologies, allowing access to new markets and assisting warehouse and logistics businesses in decarbonizing their operations. Hyzon and Sojitz will also collaborate to see if new fuel cell-powered machinery, such as forklifts, can be brought to market.
This comes ahead of Hyzon’s planned merger with Decarbonization Plus Acquisition Corporation, a publicly traded special purpose acquisition company, which was announced on February 9, 2021, and would result in Hyzon becoming a publicly traded company. The proposed transaction’s completion is subject to customary closing conditions.
Craig Knight, CEO and Co-Founder of Hyzon, said:
“As the global energy transition takes hold, hydrogen has rapidly become the preferred fuel for a multitude of applications. We are excited to partner with Sojitz to look at providing the world’s largest retailers, manufacturers, warehouses, distribution centers and logistics companies with zero-emission vehicles and a viable path to decarbonize their operations. This collaboration presents an opportunity to scale our core business of hydrogen powered heavy vehicles while potentially building new offerings in complementary areas that bring additional value to customers.”
Tadashi Miyazaki, President of SMA said:
“Our partnership with Hyzon Motors, which will help Sojitz Machinery of America and our customers decarbonize commercial mobility, is timely and supportive of Sojitz Group’s larger goal to achieve carbon neutrality by 2050. We look forward to a close relationship with Hyzon to bring its leading hydrogen fuel cell technologies to an increasing range of commercial applications, as the North American hydrogen mobility story gains pace. We are excited for the possibilities that collaboration between Sojitz and Hyzon can enable for clean commercial mobility – both in North America and globally.”