Written by Cláudio Afonso | LinkedIn | X
Shares of the U.S.-based hydrogen truck manufacturer Hyzon Motors surged 45% in the first minutes of Tuesday’s session after the company announced it reached a purchase agreement with GreenWaste for refuse 12 trucks.
Deliveries are expected to begin in the fourth quarter of 2025, within one year.
Hyzon said it has signed a purchase agreement with GreenWaste for hydrogen-powered refuse trucks after tests done across the Bay Area where the recycling firm evaluated their payload capacity, can-lift functionality, and range performance.
The order is subject to Hyzon meeting specific commercial terms and technical specifications outlined in the deal, the company said in a statement.
Hyzon shares closed at $1.93 on Monday after losing 95% of its value year to date. As of the time of writing, the stock gave up part of the gains and is currently trading 23% higher at $2.37 per share.
“We are proud to partner with sustainability leader GreenWaste in this landmark agreement, as it represents a significant leap forward in transforming trucking in the waste industry through both Hyzon’s leading Class 8 tractor and refuse collection vehicles,” Hyzon’s CEO Parker Meeks said in a statement.
“It is clear hydrogen-powered refuse collection demand is growing, powered by Hyzon’s high-performance hydrogen fuel cells. Our technology offers a compelling value proposition to our customers, providing zero-emission power necessary to meet the demanding challenges of refuse trucks, ensuring they perform day in and day out,” the executive added.
Last September, the U.S. Securities and Exchange Commission said it settled fraud charges against Hyzon Motors of misleading investors about its business relationships and vehicle sales before and after going public.
At the time, the former CEO Craig Knight and Max Holthausen, former managing director of Hyzon’s European subsidiary, were charged by the SEC for participating in the fraudulent scheme.
Written by Cláudio Afonso | LinkedIn | X
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