Hydrogen fuel cell specialists Hyzon have announced plans to quit Australia even as sales of battery electric commercial trucks climb.

For a while, it seemed like Hyzon had found something of a home in Australia. Recently, the American startup had announced pilot programs that would see its hydrogen fuel cells put to work in transit buses in Brisbane, tow trucks (above) in Victoria, and five 154-ton severe duty trucks scheduled to service a zinc refinery operation in north Queensland.

Alas, it seems like it’s not enough – Hyzon said Monday that, after a review of its business operations, it has “started realigning its strategic priorities along several lines to focus on the company’s core North American markets and the refuse industry.”

The company said it was hoping to raise new capital to get its 200 kW HFCs into series production, and has retained investment bank PJT Partners to evaluate a number of options, up to and including an outright sale of the company.

Meanwhile, BEVs are doing great

Meanwhile, Australia’s commercial BEV sales are booming. The entire country saw just under 100 battery electric trucks sold in 2022, but that number jumped to 256 in 2023 and continues to climb in 2024.

As if to underscore that fact, ANC (a leading, UPS-style last mile delivery partner for many of the Australia’s large retailers) has announced plans to spend more than $45 million.

ANC is calling the initiative “Project Spark,” and it’s being backed by a $12.8 million grant from the Australian Renewable Energy Agency (ARENA) specifically designed to address the barrier presented by the initially higher up-front costs of EVs. ARENA is also working to provide EV buyers with discounted leasing options, and generally “improved” EV charging infrastructure.

Extracted in full from:  https://electrek.co/2024/07/02/hydrogen-trucks-retreat-from-australia-as-battery-electric-sales-surge/

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