Hyzon Applauds Final Treasury Regulations Impacting Tax Credits for Qualified Commercial Clean Vehicles

BOLINGBROOK, Ill., May 6, 2024 /PRNewswire/ -- Today, Parker Meeks, Chief Executive Officer of Hyzon (NASDAQ: HYZN), a U.S.-based, leading hydrogen fuel cell technology developer and global supplier of zero-emission powertrains, issued the following statement in support of final regulations the U.S. Department of the Treasury recently released regarding federal tax credits for purchasing clean vehicles, including the up to $40,000 federal tax credit for purchasing qualified commercial clean vehicles.

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"I applaud the Treasury Department's release of these final regulations, which make clear that upfitters like Hyzon can be a 'qualified manufacturer' and FCEVs upfitted by Hyzon can be eligible for the federal tax credit for qualified commercial clean vehicles under Section 45W of the Internal Revenue Code," said Meeks. "This is a win for Hyzon and the entire hydrogen economy, which is prepared to power zero-emission transportation throughout the United States. Hyzon looks forward to continued engagement with policymakers to accelerate decarbonization and the deployment of hydrogen fuel cell technology."

Parker Meeks and other Hyzon executives have consistently advocated with lawmakers and other key stakeholders in Washington, D.C. for policies and regulations that will level the economic playing field for hydrogen-powered vehicles and accelerate our zero-emission future.

About Hyzon

Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon focuses on deploying its fuel cell technology in heavy-duty commercial vehicles across North America, Europe, and Australia/New Zealand today and in tomorrow's power generation and energy storage, mining, construction, rail, marine, and airport ecosystems. To learn more about how Hyzon partners across the hydrogen value chain to accelerate the clean energy transition, visit www.hyzonfuelcell.com.