• Hyzon Motors (Hyzon), a developer of commercial hydrogen fuel cell electric vehicles (FCEVs), reported its full-year and Q4 2021 results today. The company started generating revenue this year; for the year ended December 2021, it reported revenue of USD 6 million and a net loss of USD 13.8 million (a USD 0.07 loss per share).

<ul><li>The company delivered 87 FCEVs during 2021, and 85 of them were shipped during the quarter. Its backlog as of March 2022 consisted of USD 63 million in purchase orders and USD 224 million in non-binding MoUs through 2025, totaling USD 287 million (up 246% from the last update in July 2021 ). This includes a recent USD 92 million MoU and USD 9 million purchase from Shanghai HongYun (September 2021) and a USD 115 million MoU from Dutch waste management solutions provider Geesinknorba (December 2021) .</ul>

<ul><li>Its first FCEV trial in North America commenced in March in partnership with port trucking company Total Transportation Services (TTSI) at the Port of Long Beach, California, following an agreement in August 2021 .</ul>

<ul><li>In 2022, the company plans to deliver 300–400 vehicles, with plans to start assembling vehicles with Hyzon’s flagship “Made in USA” heavy-duty truck fuel cell in H2. It also aims to ramp up deliveries in Europe, Australia, and China, with plans to deploy 10–15 Hyzon demonstration trucks with trial customers in North America by the year-end (around 50% of which is expected to occur in California). The company also plans to have a gas-to-hydrogen hub and a waste-to-hydrogen hub (developed in partnership with renewable fuels company Raven) operational by year-end.</ul>