Hyzon Motors Inc. HYZN announces the successful completion and factory acceptance testing of the first nine single-stack 200kW Fuel Cell System (FCS) B-samples at its Bolingbrook, IL, facility. This milestone reflects Hyzon’s progress toward the Start of Production and commercialization of its innovative FCS in 2024.
The successful completion of testing follows the commissioning of Hyzon’s proprietary, automated roll-to-roll Membrane Electrode Assembly production line, including in-line inspection and the installation of its single-cell and fully automated fuel cell stack manufacturing lines.
The advancement of the 200kW FCS B-samples validates the design, equipment and operating procedures. All these elements are crucial for the final tooling and production of C-samples and the commercialization of the FCS.
Moreover, the company believes that it represents progress in the company’s prototype assembly rate. The company produced and tested six of the B-samples in the second quarter of 2023, up from three in the first quarter of 2023.
Hyzon is planning to ramp up the production of FCS by installing additional full- and semi-automation equipment in the assembly and inspection processes. Per the company, the continuous standardization of design around the 200kW FCS powertrain components will expedite production. Hyzon expects to complete the remaining 16 B-samples and start the production of C-samples in the second half of 2023.
Parker Meeks, CEO of Hyzon, said that the company aims to accelerate the clean energy transition by providing hydrogen fuel cells to power zero-emission mobility.
Hyzon’s single-stack 200kW FCS has an edge over current industry standards. Compared with most FCEV suppliers who couple two 110kW FCSs to achieve 200kW output, Hyzon has devised a technology to achieve the same using a single stack. This distinction will likely lead to a 20% increase in miles per kilogram of hydrogen compared with the 120kW FCS, 30% lower volume and weight, 25% lower cost and less maintenance than two 100kW long-range fuel cell systems.
With the increased emissions of diesel-powered vehicles — nearly 11 billion tons of carbon per year globally — the demand for hydrogen fuel cell systems remains strong. Also, the U.S. government is making notable investments in the industry via the Department of Energy’s Hydrogen Hub Program and other programs covered in the Inflation Reduction Act.
Zacks Rank & Key Picks
HYZN currently carries a Zacks Rank #2 (Buy).
Some other top-ranked players in the auto space are Ford Motor Company F, Oshkosh Corporation OSK and BYD Company Limited BYDDY, each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ford is one of the world’s leading automakers. F shares are up 29.6% year-to-date.
Ford has a VGM Score of B. The company surpassed earnings estimates in two out of the trailing four quarters and missed twice, the average surprise being 24.35%.
Oshkosh is a producer and seller of a varied range of vehicle bodies and specialty vehicles. The Zacks Consensus Estimates for the company’s earnings represent year-over-year growth of 76.3% for the current year.
Oshkosh has a VGM Score of A.
BYD Company is engaged in the research, development, manufacture and distribution of automobiles, secondary rechargeable batteries and mobile phone components. BYDDY shares are up 35.4% year-to-date.
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