Hyzon Motors Amendment IP agreement with Horizon

Rochester, United States- Hyzon Motors Inc., a hydrogen fuel cell technology developer and supplier of zero-emission heavy-duty fuel cell electric vehicles (FCEVs) announced an amendment to its Intellectual Property (IP) agreement with affiliates of Horizon Fuel Cell Technologies Pte. Ltd., Hyzon’s majority controlling shareholder and an advanced hydrogen fuel cell solutions company, furthering the collaboration between the two companies and opening additional markets and optionality for Hyzon.  

Along with its current access to markets for worldwide fuel cell technology, the amendment allows Hyzon to increase its market access to stationary fuel cell power applications in North America. As a zero-emission substitute for diesel power generation units used in primary, backup, and off-grid applications, stationary fuel cells are expected to have a near-term total addressable market (TAM) of more than $4 billion in the United States by 2025 and more than $35 billion globally by 2030.  In the considerably bigger stationary energy storage industry, where longer durations of energy storage are necessary, hydrogen fuel cell power is also anticipated to be competitive.

Hyzon is aiming to commercialize stationary products, including near-term demand in end-use applications such as data centers, the entertainment industry, battery electric vehicle charging, and remote industrial power needs, using its existing fuel cell IP, production technology, and manufacturing facilities.

Mr. Parker Meeks, Chief Executive Officer of Hyzon, said that, As we make the transition to clean energy sources, we think that decarbonizing stationary power generation is essential.The potential uses for Hyzon's zero-emissions fuel cell technology are countless, ranging from replacing diesel generators in isolated regions to supplying emergency power to hospitals and data centers. In order to deliver a high power output at a low volume and cost, Hyzon designs its fuel cell systems. These characteristics are equally important in stationary applications. Hyzon seeks to take a leadership position in industries that support our long-term goal of building a sustainable future.” 

A single stack 300kW fuel cell system that Hyzon had previously stated as part of its product roadmap is also included by the agreement as an option for Hyzon and Horizon to explore together. Additionally, Hyzon retains ownership of the data Horizon collects from its numerous fuel cell use cases. This partnership is expected to hasten the real-world learnings of both firms, notably those related to improving FCEV performance and durability.

The IP Agreement shall be effective as amended through September 2030. By doing this, the two businesses will be able to continue to build on the success of their combined efforts while maintaining their flexibility to adapt to the changing hydrogen ecosystem, giving Hyzon access to the international stationary power market outside of North America at that time.