Hyzon Motors Inc., a high-power hydrogen fuel cell technology developer and global supplier of zero-emission heavy-duty fuel cell electric vehicles ("FCEVs"), announced its Q2 2023 financial and operational results. 

Recent Highlights

• Deployed ten FCEVs under commercial agreements and collected $2.9 million in cash year-to-date
• U.S. 110kW truck program moved from prototype to production
• Completed 15 vehicle trials in North America since trial program launch in March 2022
• Five 110kW FCEVs truck orders from Performance Food Group ("PFG") expected to be delivered in late 2023
• Successfully completed six single-stack 200kW Fuel Cell System ("FCS") B-samples in the second quarter in addition to three completed in the first quarter of 2023
• Appointed Matthew Foulston, an accomplished finance executive, to the Board of Directors
• Net loss attributable to Hyzon of $(60.2) million and loss per share of $(0.25)
• EBITDA of $(59.4) million and adjusted EBITDA of $(33.0) million
• Unrestricted Cash, cash equivalents, and short-term investments of  $172.4 million as of June 30, 2023, and approximately $158 million as of July 31, 2023

"Hyzon has made significant strides in the second quarter, both in the advancement of our 200-kW fuel cell technology and in the commercialization of our heavy-duty fuel cell electric truck platforms, " said Parker Meeks, Hyzon Chief Executive Officer. "We have been hard at work streamlining our vehicle offerings, operations, and geographies, and we are proud of the progress we have made at our U.S. fuel cell system production facility. Looking ahead to the remainder of the year, we are excited by the continued advancement of our commercial pipeline across our focused FCEV platforms, with commercial deployments ongoing toward our 10-20 vehicle goal this year. We believe our intense focus and disciplined execution of our operational milestones as well as significant improvements to streamline our business have positioned Hyzon well in the accelerating hydrogen industry."