Hyzon Motors and ITOCHU to pursue decarbonization in the global mining sector
ROCHESTER, N.Y., Nov. 9, 2021 — Hyzon Motors Inc. (NASDAQ: HYZN) and ITOCHU Corporation (TYO: 8001) have agreed to jointly pursue commercial hydrogen opportunities targeting the mineral and metal industry.
Hyzon, a leading manufacturer of zero-emission, hydrogen fuel cell electric commercial vehicles, announced today the signing of a Memorandum of Understanding (MoU) with ITOCHU, the leading Japanese business group. Under the non-binding MoU, the companies are expected to jointly develop hydrogen supply chain strategies as well as model customer projects for the deployment of Hyzon fuel cell vehicles and fuel cell technology in the mining sector.
The collaboration marries the companies’ complementary expertise: ITOCHU brings long-standing relationships with mining companies globally, while Hyzon provides extensive experience developing and deploying fuel cell electric vehicles (FCEVs) and hydrogen solutions for large commercial vehicles and industrial equipment. In doing so, the companies address the entire hydrogen value chain, a crucial step in promoting near-term hydrogen developments.