Hyzon to pull out of Australia and focus solely on North America

The US-based hydrogen truck manufacturer Hyzon is narrowing its focus further on North America. After shutting down its European production facility in the Netherlands, the company plans to leave the Australian market, one of the most significant contributors to its revenue, to focus on the North American waste truck business instead.

The road ahead continues to be bumpy for Hyzon Motors, the Illinois-based hydrogen fuel cell specialist for heavy commercial vehicles. After pulling out of China and Europe, the company has now announced plans to refocus its resources on the North American market, leaving Australia as well.

Australian revenue is not enough to stay

This comes as a surprise, as most of the $10 million revenue from Q1 2024 came from deploying hydrogen coach buses to Fortescue Metals Group in Australia, which was the company’s best quarterly result thus far. But the company is preparing “to launch its significant large fleet trial programs on both platforms in the US and Canada this summer,” which means the grass is looking greener on the American side instead.

More specifically, Hyzon is looking to specialize in fuel cells for garbage trucks in North America, with the joint development agreement with New Way Trucks that brought a hydrogen fuel cell-powered garbage truck to Waste Expo in Las Vegas earlier this year.

Cash needed for series production

Hyzon is also looking to raise new capital to get its 200 kW fuel cells into series production, with several options on the cards, including a sale of the company. According to Hyzon, the company still has enough cash for the rest of the year, but with $82.6 million in the bank and a quarterly loss of around $25 million, a cash injection will be needed to see 2025.