Media Advisory – Hyzon Motors Inc. (NASDAQ: HYZN), (Hyzon) a
leading supplier of hydrogen-powered fuel cell electric vehicles,
and TC Energy Corporation (TSX, NYSE: TRP) (TC Energy), today
announced an agreement to collaborate on development, construction,
operation, and ownership of hydrogen production facilities (hubs)
across North America.
The hydrogen production facilities will be used to
meet hydrogen fuel cell electric vehicle demand by focusing on
low-to-negative carbon intensity hydrogen from renewable natural
gas, biogas and other sustainable sources. The facilities will be
located close to market demand, supporting Hyzon back-to-base
vehicle deployments.
“Through this agreement, we are marrying the
expertise of TC Energy in natural gas and renewables with that of
Hyzon, which has its technology in fuel cell electric vehicles
being delivered around the world today,” said Corey Hessen, TC
Energy’s Senior Vice President and President, Power and Storage.
“TC Energy is committed to exploring and developing energy
solutions in North America for our own assets as well as those of
customers to meet their energy transition needs. We believe we are
well positioned to execute on the development of hydrogen and CO2
pipelines.”
Under the agreement, the companies will evaluate
sites across multiple states and provinces to develop hydrogen
production facilities with the goal of hydrogen delivery to fuel
heavy duty vehicles. The hubs will be prioritized near existing and
potential customer demand with a goal to produce up to 20 tonnes of
hydrogen per hub per day. TC Energy will operate the hubs, supply
the power and gas commodities, and provide asset development,
management services, and power and gas sales marketing.
“By partnering with TC Energy on modular hydrogen
production hubs from a range of sustainable production feedstocks
close to Hyzon fleet deployments we can fully decarbonize mobility
at a very low cost and time to build,” said Parker Meeks, Chief
Strategy Officer, Hyzon Motors Inc. “This agreement is just one of
the many steps and strategic partnerships that Hyzon Motors will be
announcing in the coming months to confirm our ability to bring
clean hydrogen infrastructure to market with our vehicles in the
very near term.”
Utilizing existing partnerships with modular
hydrogen technology partners, such as Raven SR and ReCarbon, TC
Energy and Hyzon look to site hydrogen hubs to serve Hyzon fleet
deployments, enabling unique speed to market for low-cost,
low-to-negative carbon intensity hydrogen infrastructure
development. This also complements TC Energy’s strong renewable
natural gas interconnections and pipeline network.
Currently, Hyzon and TC Energy are evaluating
near-term potential hydrogen hub production sites in a number of
states, tied to prospective fleet customer deployments. In addition
to Hyzon vehicle customers, the partnership will jointly market
third-party hydrogen volumes to industrial sectors, power
generation and energy distribution.
About TC EnergyWe are a vital part
of everyday life - delivering the energy millions of people rely on
to power their lives in a sustainable way. Thanks to a safe,
reliable network of natural gas and liquids pipelines, along with
power generation and storage facilities, wherever life happens —
we’re there. Guided by our core values of safety, responsibility,
innovation, collaboration and integrity, our 7,500 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto
(TSX) and New York (NYSE) stock exchanges under the symbol TRP. To
learn more, visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis
release contains certain information that is forward-looking and is
subject to important risks and uncertainties (such statements are
usually accompanied by words such as "anticipate", "expect",
"believe", "may", "will", "should", "estimate", "intend" or other
similar words). Forward-looking statements in this document are
intended to provide TC Energy security holders and potential
investors with information regarding TC Energy and its
subsidiaries, including management's assessment of TC Energy's and
its subsidiaries' future plans and financial outlook. All
forward-looking statements reflect TC Energy's beliefs and
assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. As actual results could vary significantly from the
forward-looking information, you should not put undue reliance on
forward-looking information and should not use future-oriented
information or financial outlooks for anything other than their
intended purpose. We do not update our forward-looking information
due to new information or future events, unless we are required to
by law. For additional information on the assumptions made, and the
risks and uncertainties which could cause actual results to differ
from the anticipated results, refer to the most recent Quarterly
Report to Shareholders and Annual Report filed under TC Energy’s
profile on SEDAR at www.sedar.com and with the U.S. Securities and
Exchange Commission at www.sec.gov .
About HyzonHeadquartered in
Rochester, N.Y., with U.S. operations in the Chicago and Detroit
areas, and international operations in the Netherlands, Singapore,
Australia, Germany, and China, Hyzon is a leader in fuel cell
electric mobility with an exclusive focus on the commercial vehicle
market, and a near-term focus on back to base (captive fleet)
operations. Utilizing its proven and proprietary hydrogen fuel cell
technology, Hyzon aims to supply zero-emission heavy duty trucks
and buses to customers in North America, Europe and around the
world to mitigate emissions from diesel transportation, which is
one of the single largest sources of carbon emissions globally. The
Company is contributing to the escalating adoption of fuel cell
electric vehicles through its demonstrated technology advantage,
leading fuel cell performance and history of rapid innovation.
Visit www.hyzonmotors.com.
Forward-Looking Statements This
press release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of present or historical fact
included in this press release, are forward-looking statements.
When used in this press release, the words “could,” “should,”
“will,” “may,” “believe,” “anticipate,” “intend,” “estimate,”
“expect,” “project,” the negative of such terms and other similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such
identifying words. These forward-looking statements include but are
not limited to expectations pertaining to hydrogen hub production
targets and customer demand, and are based on management’s current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
Hyzon disclaims any duty to update any forward -looking statements,
all of which are expressly qualified by the statements in this
section, to reflect events or circumstances after the date of this
press release. Hyzon cautions you that these forward-looking
statements are subject to numerous risks and uncertainties, most of
which are difficult to predict and many of which are beyond the
control of Hyzon, including risks and uncertainties described in
the “Risk Factors” section of Hyzon’s definitive proxy statement on
Schedule 14A filed with the U.S. Securities and Exchange Commission
(the “SEC”) on June 21, 2021, as amended, our Registration
Statement on Form S-1 filed with the SEC on July 30, 2021, and
other documents filed by Hyzon from time to time with the SEC.
These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements,
such as risks related to the ability to convert non-binding
memoranda of understanding into binding orders or sales (including
because of the current or prospective financial resources of the
counterparties to Hyzon’s non-binding memoranda of understanding
and letters of intent), or the ability to identify additional
potential customers and convert them to paying customers. Hyzon
gives no assurance that Hyzon will achieve its expectations.
-30-
Media Inquiries:TC
EnergyJaimie Harding / Jennifer Linkmedia@tcenergy.com
403-920-7859 or 800-608-7859
Investor & Analyst
Inquiries:David Moneta / Hunter
Mauinvestor_relations@tcenergy.com 403-920-7911 or 800-361-6522
Media Inquiries:Hyzon
Motorshyzon@kivvit.com
Investors: Darla RiveraHyzon
Motors IncIR@hyzonmotors.com
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