Hyzon Zero Carbon Alliance welcomes leading hydrogen storage provider, Iljin Hysolus
October 21, 2021
– Iljin Hysolus (Seoul Stock Exchange: 271940) strengthens the Alliance’s efforts to advance transition to clean, hydrogen-powered vehicles
– The Zero Carbon Alliance, a business-led consortium, is championing hydrogen-powered mobility, investment, technology
MELBOURNE, Australia, Oct. 20, 2021 — The Hyzon Zero Carbon Alliance, an initiative of leading companies working to accelerate hydrogen-powered mobility worldwide, has added Iljin Hysolus as its newest member following its recent steering committee meeting.
Championed by Hyzon Motors Inc. (NASDAQ: HYZN), a leading global supplier of zero-emission, hydrogen fuel cell-powered commercial vehicles, the Alliance brings together active participants along the hydrogen-value chain – from production to technology development, from innovation to investment.
Membership is extended to organizations that have current, proven hydrogen-related operations. By doing so, the Alliance remains specifically focused at collaboratively driving adoption of hydrogen-powered vehicles and the broadening of the hydrogen economy ecosystem, through strategic partnerships and a united industry approach.
“By expanding to include Iljin Hysolus, the Alliance strengthens its current ability to deploy hydrogen-powered vehicles as well as its future outlook, thanks to the Iljin Hysolus’ constant pace of innovation,” said Craig Knight, CEO of Hyzon Motors. “Iljin Hysolus’ participation provides further proof of the importance of the Alliance as a platform for collaboration, development and – importantly – action.”
Iljin Hysolus brings extensive expertise manufacturing hydrogen storage tanks and modules, a critical component in successfully and safely deploying fuel cell electric vehicles and hydrogen stations. The company is South Korea’s only mass-producer of hydrogen tube trailers, and is widely known as the exclusive supplier of hydrogen tubes for Hyundai Motor’s leading hydrogen passenger vehicle, the Nexo. Iljin Hysolus recently entered the hydrogen storage systems market by receiving global accreditation for its Type 4 hydrogen tube trailers, and successfully completed its Initial Public Offering in Seoul on September 1, 2021. In addition to its reputation for product quality and reliability, the company’s commitment to research and development has put it at the vanguard of the hydrogen market since its founding in 1999. For the Alliance, this increases the speed with which commercially-viable hydrogen mobility solutions may be introduced globally.
Iljin Hysolus will join the ten current members of the Alliance including Ark Energy (a subsidiary of Korea Zinc), TotalEnergies, AXA, Bank of America, Hiringa Energy, Modern Group, NEOM, Raven SR, ReCarbon, and Woodside Energy.
“Our vision is with the wonderful partners who pioneer innovation in the hydrogen economy,” said Dr. Hong Sang Ahn, CEO of Iljin Hysolus. “We will contribute our expertise in hydrogen storage solutions to the Alliance in order to lift its aspirations.”
As a uniquely demand-led initiative, the Hyzon Zero Carbon Alliance aims to capitalize on its direct access to fleet operators worldwide to create hydrogen ecosystems in parallel with vehicle deployments. Fleet deals between members, including Hyzon and TotalEnergies, as well as Hyzon and Ark Energy, are examples of the real hydrogen mobility cross-ecosystem deployments that the Alliance is focused on enabling.
“In six months, the Hyzon Zero Carbon Alliance has made significant progress toward its goals of putting zero-emissions, hydrogen-powered trucks on the road,” said Daniel Kim, CEO of Ark Energy. “The addition of Iljin Hysolus will allow us to move even faster, and we are pleased to develop a global hydrogen value chain alongside them.”
By aligning the supply and demand side of the sector, the Alliance is designed to overcome some of the biggest hurdles faced by the hydrogen industry to date, making zero-emission fleet operations a reality in the very near term.
To learn more, visit hyzonalliance.com.
About the Hyzon Zero Carbon Alliance
The Hyzon Zero Carbon Alliance is a collaborative initiative that aims to drive scale, speed and cooperation while lowering costs of hydrogen through harnessing the power of a united industry approach. By bringing together best-in-class players from across the hydrogen value chain and supporting sectors, the Alliance provides a platform within which industry can collaborate to develop hydrogen ecosystems and offer mobility as a service to hydrogen transport customers.
The Alliance specifically identifies and targets opportunities across priority regions worldwide based on customer demand. In doing so, it supports the development of an increasingly widespread distribution infrastructure, and establishes models that result in replicable project deployment and enable greater volumes of hydrogen vehicles on the road with the aim to accelerate the energy transition.
About Iljin Hysolus
Iljin Hysolus is a global leading hydrogen storage system manufacturer since 1999. Based on its type 4 composite technology, the company has first supplied type 4 hydrogen tanks to the mass production line for Hyundai Motor in 2014 and has achieved its credentials of the most reliable and the world’s largest volume producer, having more than 60,000 units produced with zero customer claims.
Iljin Hysolus’s type 4 hydrogen storage systems cover not only passenger or commercial vehicles but also drones, trams/trains, ships, and hydrogen tube trailers, which will accelerate the transformation of mobility and the energy infrastructure aligning with the Hyzon Zero Carbon Alliance’s vision.
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 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, 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. Hyzon gives no assurance that Hyzon will achieve its expectations.
Hyzon Motors, Inc.
Hyzon Motors, Inc.