Hyzon SPAC Presentation Deck
Fuel Cell EV (FCEV) Economics Are Driven by Fuel Cost
Fuel cell trucking is already cost competitive
The largest factor driving the economics of diesel
versus hydrogen heavy trucks is the cost of the fuel used
Hydrogen is produced from natural gas today for petroleum
refining and industrial use for <$1 per kg globally
■
The price of hydrogen is expected to decrease rapidly as green
production scales around the world, while oil derivatives
will likely become more expensive through a dearth of investment
We believe that waste gas or various wastes as sources of hydrogen
will be even cheaper as money is paid to those capturing landfill gas
or processing mixed solid waste that otherwise goes to landfill
We believe that fuel cell costs will drop as Hyzon reaches scale
■
Various regions are developing additional financial incentives
encouraging the adoption of fuel cell technology
European jurisdictions offer Road Tax Savings of $120,000-300,000
over a typical life of a commercial vehicle
FUTURE OF HYDROGEN IS NOW
California has a Low Carbon Fuel Standard rule which will credit the
dispenser of hydrogen by $1.75 per kg if the hydrogen is produced
by natural gas (and even more for renewable hydrogen)
COST OF CLASS 8 TRUCK
MILES DRIVEN
TRUCK COST PER MILE
FUEL COST PER
US GALLON
FUEL COST PER kg
MILES PER US GALLON
MILES PER kg
FUEL COST PER MILE
SERVICE + MAINTENANCE
PER MILE
TOTAL COST PER MILE
INCL. EUROPEAN SUBSIDY¹
INCL. CALIFORNIA SUBSIDY²
DIESEL CA
$140,000
700,000
$0.20
$3.25
6.25
$0.52
$0.21
$0.93
DIESEL
EUROPE
$115,000
700,000
$0.16
$4.00
6.25
$0.64
$0.21
$1.01
NEAR TERM MEDIUM TERM
FUEL CELL FUEL CELL
ECONOMICS ECONOMICS
$240,000
700,000
$0.34
$4.00
7.5
$0.53
$0.15
$1.02
$0.85
$0.79
$150,000
700,000
$0.21
$3.00
9.0
$0.33
$0.15
$0.70
$0.53
$0.47
Source: Hyzon Motors, Department of Energy. Note: Actual values may vary, projections based on management forecasts. ¹ Assumes European subsidy equivalent of $0.17 per mile. 2 Assumes California subsidy equivalent of $0.23
per mile.
HYZON | DCRB+
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