TC Energy: Hyzon Motors and TC Energy announce hydrogen modular production hub development agreement

Hyzon Motors Inc. (NASDAQ: HYZN), (Hyzon) a leading supplier of hydrogen-powered fuel cell electric vehicles, and TC Energy Corporation (TSX, NYSE: TRP) (TC Energy), today announced an agreement to collaborate on development, construction, operation, and ownership of hydrogen production facilities (hubs) across North America.

The hydrogen production facilities will be used to meet hydrogen fuel cell electric vehicle demand by focusing on low-to-negative carbon intensity hydrogen from renewable natural gas, biogas and other sustainable sources. The facilities will be located close to market demand, supporting Hyzon back-to-base vehicle deployments.

“Through this agreement, we are marrying the expertise of TC Energy in natural gas and renewables with that of Hyzon, which has its technology in fuel cell electric vehicles being delivered around the world today,” said Corey Hessen, TC Energy’s Senior Vice President and President, Power and Storage. “TC Energy is committed to exploring and developing energy solutions in North America for our own assets as well as those of customers to meet their energy transition needs. We believe we are well positioned to execute on the development of hydrogen and CO2 pipelines.”

Under the agreement, the companies will evaluate sites across multiple states and provinces to develop hydrogen production facilities with the goal of hydrogen delivery to fuel heavy duty vehicles. The hubs will be prioritized near existing and potential customer demand with a goal to produce up to 20 tonnes of hydrogen per hub per day. TC Energy will operate the hubs, supply the power and gas commodities, and provide asset development, management services, and power and gas sales marketing.

“By partnering with TC Energy on modular hydrogen production hubs from a range of sustainable production feedstocks close to Hyzon fleet deployments we can fully decarbonize mobility at a very low cost and time to build,” said Parker Meeks, Chief Strategy Officer, Hyzon Motors Inc. “This agreement is just one of the many steps and strategic partnerships that Hyzon Motors will be announcing in the coming months to confirm our ability to bring clean hydrogen infrastructure to market with our vehicles in the very near term.”

Utilizing existing partnerships with modular hydrogen technology partners, such as Raven SR and ReCarbon, TC Energy and Hyzon look to site hydrogen hubs to serve Hyzon fleet deployments, enabling unique speed to market for low-cost, low-to-negative carbon intensity hydrogen infrastructure development. This also complements TC Energy’s strong renewable natural gas interconnections and pipeline network.

Currently, Hyzon and TC Energy are evaluating near-term potential hydrogen hub production sites in a number of states, tied to prospective fleet customer deployments. In addition to Hyzon vehicle customers, the partnership will jointly market third-party hydrogen volumes to industrial sectors, power generation and energy distribution.