Hyzon Motors has become a major player among manufacturers of hydrogen-electric heavy-duty trucks, less than a year and half after being spun off from Singapore-based Horizon Fuel Cell Technologies.

In July, the US-headquartered company started delivering class-eight heavy-duty fuel cell trucks—built on a Freightliner Cascadia chassis—to customers in Europe, a first among Western manufacturers. In the same month, Hyzon announced it had patented a lighter and less complex hydrogen storage system for trucks that could reduce costs by 50pc.  

Hyzon says its G3 system has the highest power density of any hydrogen fuel-cell stack in the world, while its stacked design offers superior volumetric efficiency and lower costs than other designs because of reduced use of catalysts and other materials.

Hydrogen Economist interviewed Craig Knight, co-founder and CEO of Hyzon, to learn more.

What was the rationale behind Horizon Fuel Cell Technologies spinning off Hyzon Motors in March of last year?

Knight: Horizon has been developing fuel-cell technologies since 2003. It is the grandpa of the fuel cell industry. As a technology developer—and a technology-rich one at that—Horizon has spun off a few companies in the past. In terms of Hyzon, it saw a gap in heavy transport—not in Asia, but in North America and Europe—to quickly manufacture hydrogen-electric trucks to help decarbonise their markets. To do so, Hyzon acts as a master integrator, partnering with established OEMs that make the other parts of the truck.

50pc – Cost reductions of new hydrogen storage systems

Does Hyzon continue to have a technology-sharing or any other relationship with Horizon?

Knight: Horizon continues to own over 50pc of Hyzon, and the intellectual property rights for the fuel-cell technologies are co-owned. Hyzon has a licensing agreement with Horizon for exclusive access to mobility markets in North America, Europe and elsewhere—but not Asia, where Horizon has already supplied some fuel cells for heavy trucks.

How did your merger earlier this year with special purpose acquisition company (SPAC)  Decarbonization Plus Acquisition Corporation come about?

Knight: That goes back about three years. Horizon was already successfully and profitably selling fuel cells to truck makers in China, but realised it would need substantial new capital to develop its own heavy trucks. It is a massive undertaking, and Horizon is not GE. Once Hyzon was established, we went to the investment bankers who provided us with three options: private funding; an IPO; or a merger with a SPAC. The most expedient way was a merger with a SPAC, since by their very nature they are looking for opportunities. And lots of them, including Decarbonization Plus, are looking to invest in the decarbonisation space.

What are the key benefits of the merger from Hyzon’s end?

Knight: Besides the needed funding, the merger raised the profile of Hyzon, and by going public it opens doors to government policymakers allowing us to help guide agenda-setting for matters related to hydrogen and heavy trucks.

Hyzon is the first company to sell hydrogen-electric class-eight semi-trucks in the West. Who do you see as your major competitors in this market, and why?

Knight: We do not see any exact competitive match as of yet. Hyundai has a class-seven truck. Toyota is working with Kenworth. Cummins is coming along, especially with its acquisition of [hydrogen technology manufacturer] Hydrogenics. But these companies are at no more than the prototype stage. As a result, it will be one or two more years before we see any competition in the class-eight market, and four-to-five years for purpose-built hydrogen-electric trucks to hit the market. It should be noted that most development work for fuel cells has been done for stationary applications and passenger cars, and it takes a lot of additional work to adapt even the latter for heavy trucks.

“We do not see any exact competitive match as of yet” Knight, Hyzon

Are there any Chinese manufacturers that you see as major competitors?

Knight: China has the most advanced electric mobility market, but limitations have already been reached. This has led the Chinese government to promote the use of hydrogen for buses and delivery trucks in recent years, which enabled Horizon to gain powertrain experience because Chinese OEMs have been purchasing the fuel cells from foreign companies. Only now are they beginning to acquire in-house fuel-cell technology. The one Chinese company that presently stands out is Great Wall Motors.

What do you see as Hyzon’s major challenges moving forward?

Knight: The major challenge is a lack of green hydrogen and fuelling infrastructure, especially in North America. That is why we are also investing in production and fuelling hubs. For example, in April, we signed a memorandum of understanding on a joint venture with Raven SR, a renewable fuels company, for up to 100 hydrogen hubs. The first two will be in California’s Bay Area.

On the more technical front, where is your company at with testing the G3 Titan Stack?

Knight: Because of its impressive power density, we have provided it to two aircraft companies for testing. But as of now, a lot more validation is needed for the truck market.

In terms of technological advancements such as the G3 Titan Stack and your new lighter and less complex hydrogen storage system, are these Hyzon advancements or joint Hyzon-Horizon advancements?

Knight: These are joint Hyzon and Horizon advancements.

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Author: Vincent Lauerman