Hyzon announces first quarter 2024 financial and operating results

Bolingbrook, ill. , may 13, 2024 /prnewswire/ -- hyzon (nasdaq: hyzn) (hyzon or the company), a u.s.-based manufacturer and global supplier of high-performance hydrogen fuel cell systems focused on providing zero-emission power to decarbonize the most demanding industries, today announced its first quarter 2024 financial and operating results: recent highlights first quarter 2024 revenue of $10.0 million as compared to no revenue in the prior-year period, demonstrating material progress in customer acceptance and completion of commercial cycle announced joint development agreement with new way trucks, north america's largest private refuse manufacturer, and unveiled first hydrogen-powered refuse truck for u.s. market at wasteexpo in may; trials with major refuse collection fleets expected to begin summer 2024 completed five 200kw c-sample fuel cell systems (fcs) in q1 and five additional 200kw fcss in april, remaining on track for start of production (sop) of 200kw fcs in second half of 2024 successfully completed four-month refuse truck trial with remondis australia, converting to full vehicle sale launched 200kw fuel cell system integrated in australian heavy-duty cabover truck, with first sop of class 8 200kw fuel cell electric vehicle (fcev) expected in second half of 2024 r&d, sg&a, and net cash burn, excluding the first sec settlement payment and the proceeds from the sale of the rochester facility, all came in at or below the low-end of company guidance ranges for the first quarter of 2024 "i am pleased with our start to 2024, during which we have built upon the commercial and technology inflection points we achieved in 2023," said hyzon chief executive officer parker meeks.
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