Benzinga | Mar 31, 2021 07:37AM EDT

Decarbonization Plus Acquisition's Hyzon Motors Launches Leasing Service for Hydrogen Commercial Vehicles in Europe and Announces Ambition to be Among First to Achieve TCO Parity in Europe

Hyzon Motors Inc. ("Hyzon" or "the Company"), a leading global supplier of zero-emission hydrogen fuel cell-powered commercial vehicles, today announced it has launched leasing service for the provision of heavy-duty fuel cell electric vehicles (FCEVs) to its customers in the European Union.

As announced on February 9, 2021, Hyzon has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB, DCRBW, DCRBU), 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.

Through the leasing service, Hyzon intends to enable potential European Union customers to operate the Company's branded vehicles through a leasing model, and to thereby fast-track the transition of their fleets to hydrogen fuel, without compromising on performance.

Hyzon and its partners have been actively developing complete end-to-end lifecycle solutions that enable fleet operators to viably make the transition to hydrogen fuel cell commercial vehicles. The Company's new lease offering represents the first step in the development of a holistic fleet leasing offering for the European market that is expected to include hydrogen fuel, insurance, service and maintenance for Hyzon and Hyzon-branded vehicles.