Benzinga | Apr 27, 2021 07:45AM EDT

Decarbonization Plus Acquisition Corporation SPAC Merger Partner Hyzon Announces MOU For Joint Venture With Raven SR; The Companies Expect To Build Up To 100 Hydrogen Production Hubs Across US

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.