Occasionally an organization will make a major announcement and instead of a big splash in the media like there ought to be there are just a few ripples. Case in point was Hyzon’s announcement on 12.08.2021 that it had delivered 29 fuel cell electric trucks to Shanghai Hydrogen HongYun Automotive Co that will be “used by a major steel conglomerate in China.”
It is always encouraging when Fuel Cells Works can publish a report of a FCEV maker deploying more of its products, but the December Hyzon dispatch was especially positive in a couple of other ways.
The first part of the announcement is interesting all by itself, since it helps put a grotesque accusation about Shanghai Hydrogen HongYun Automotive Co being an imagined firm to rest. That assertion was made by a couple of firms last year that focus on short selling stocks, and neither firm bothered to do a modicum amount of intelligent research on HongYun.
Digging a little deeper, a web post recorded by Social Grep states that the HongYun order was actually on behalf of Baowu Group, which is the parent organization of the largest steel manufacturer in the world. (When Fuel Cells Works reached out to Hyzon for comment a company representative said Hyzon is unable to comment on non-Hyzon agreements and clients.) Supplemental confirmation was provided in a Twitter post comparing the name on the trucks in the Hyzon press release for the delivery of the trucks to a corporate sign for Baowu. However, this fits with other data that Fuel Cells Works had previously reported. A January 2021 article indicated that Baosteel Co had setup a hydrogen fueling station capable of providing 500kg per day.
Furthermore, a June 2021 article from Fitch Ratings also stated that Baowu Steel Group is one of the most profitable steelmakers globally, and Fitch noted that Baowu is likely to continue acquiring other organizations further strengthening its global leadership position. It makes sense for a financially stable company to begin converting its heavy-duty mobility fleet to fuel cell electric vehicles (FCEVs). There is a lot of wisdom in doing so given the Chinese government’s emphasis on the transition to clean energy, not to mention that the Chinese market is one of the most advanced when it comes to FCEVs.
It is also worth noting that a press release by Hyzon on 09.09.2021 stated that HongYun is expected to order up to 500 Hyzon trucks, and all trucks are going to be delivered to HongYun by the end of 2022. Hyzon further announced on 01.12.2022 that it had ended 2021 by delivering 87 trucks to clients during that year, which exceeded its forecast of 85.
Hyzon is a two-year old organization that managed in 2021 to announce responsible hydrogen production partnerships in the U.S. (one of which was with Raven SR), it is the only FCEV manufacturer in the U.S. that is actively producing trucks and getting them to clients, it is supporting a top tier company like Baowu, and by the end of its second year it was exceeding its vehicle delivery projections. When it comes to FCEV leadership in the heavy-duty mobility sector it is safe to say that Hyzon is the go-to market leader.
Jesse Lyon, Contributor
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