Benzinga | Apr 22, 2021 07:09AM EDT

Decarbonization Plus Acquisition M&A Partner Hyzon Motors Says Co, Partners Launch Collaborative Industry Platform To 'Advance Hydrogen Ecosystems Worldwide'

Hyzon Motors Inc. ("Hyzon"), a leading global supplier of zero-emission hydrogen fuel cell powered commercial vehicles, is pleased to announce the Hyzon Zero Carbon Alliance (the "Alliance"), a new collaboration of leading companies in various industries that are committed to advancing the deployment of hydrogen mobility worldwide and helping the environment.

Ark Energy (a subsidiary of Korea Zinc), AXA, Bank of America, Hiringa Energy, Modern Group, NEOM, Raven SR, ReCarbon and Total, along with Hyzon, will work together as the initial members of the Alliance to drive the development of hydrogen mobility supply chains globally and help to eliminate emissions in the hard-to-evade sector of commercial transport.

The Alliance will utilize the collective expertise, resources and capability of its members to foster knowledge and innovation, identify priority projects, create business models and support delivery of attractive solutions enabling customers to viably make the transition to cleaner hydrogen fuel cell commercial vehicles.

Bringing together a supply chain of product and service offerings is critical to the realization of a global hydrogen mobility sector. Together, the group of leading financiers, insurers and energy companies, along with global innovation hub NEOM, will support the development of hydrogen ecosystems with the aim of accelerating the energy transition and deliver its benefits to global consumers as swiftly as possible.

As a uniquely demand-led initiative, the Alliance will capitalize on its direct access to fleet operators worldwide to create hydrogen ecosystems in parallel with vehicle deployments. By aligning the supply and demand side of the sector, the Alliance is designed to overcome some of the biggest hurdles faced by the hydrogen industry to date, making zero-emission fleet operations a reality in the very near term.

George Gu, Chairman and Co-Founder of Hyzon Motors, remarked:

"Through the Hyzon Zero Carbon Alliance, we will work with partners to expand the deployment of zero-emission hydrogen fuel cell powered heavy vehicles globally and continue leading the hydrogen transition.

"We are incredibly excited to be working with leading companies committed to the energy transition who recognize the potential of hydrogen commercial mobility as an essential pathway to a net-zero transport sector."