Hyzon, a U.S.-based manufacturer and global supplier of high-performance hydrogen (H₂) fuel cell systems focused on providing zero-emissions power to decarbonize the most demanding industries, has announced that after a comprehensive review of its business operations, the company has started realigning its strategic priorities along several lines to focus on the its core North American markets and the refuse industry.

In addition to the company’s previously disclosed efforts to secure capital, Hyzon has announced that it has retained PJT Partners as its financial advisor to lead the ongoing capital raise efforts, including via capital markets transactions, and to explore a full range of strategic options for the company, which could potentially include a sale of the company and/or a divestiture of its Europe and Australia/New Zealand businesses and subsidiaries, among other alternatives.

As the Company explores such strategic alternatives, it will continue to focus on cost reduction efforts and managing liquidity, including a reduction in work force or other strategic transactions and/or measures.

The realignment process will allow Hyzon to focus its financial resources and investments, better position its first-to-market, single-stack, 200-kW fuel cell technology in its zero emissions North American Class 8 and refuse truck FCEV platforms as it prepares to launch its significant large fleet trial programs on both platforms in the U.S. and Canada this summer.