Hyzon Motors to expand with acquisition of Orten Betriebs GmbH and Orten Electric Trucks GmbH

ORTEN Group is one of the pioneers for the electrification of new and used commercial diesel vehicles, supporting worldwide CO2 free mobility

Hyzon Motors (NASDAQ: HYZN), a global supplier of zero-emissions hydrogen and fuel cell powered commercial vehicles, announced the signing of a definitive agreement to acquire ORTEN Betriebs GmbH and subsidiaries, and ORTEN Electric Trucks GmbH, German manufacturers of innovative truck and trailer bodies for the beverage industry (collectively, “ORTEN”). The transaction is expected to close in the fourth quarter, 2022.

The acquisition brings three fully-operational production facilities and a team of over 80 employees under the Hyzon umbrella. ORTEN’s employees are experienced in electrification, retrofitting, and bodybuilding, all critical elements of Hyzon’s FCEV build process. Additionally, ORTEN management has extensive, long-standing customer relationships across Germany.

Complementary product lines between Hyzon and ORTEN, in combination with ORTEN’s body and powertrain kits, provide a comprehensive solution for customers transitioning their fleets to zero emissions: vehicles up to 26 tons can be transitioned to ORTEN’s existing offering of battery electric vehicles, while the operational requirements of medium- and heavy-duty vehicles can be met with Hyzon’s FCEVs.

Germany is expected to be a major global market for zero-emission commercial vehicles in the coming years. The European Union recently announced a total ban on sales of combustion engine cars from 2035, and Germany offers various incentives to transition heavy vehicles off diesel, including some that provide subsidies for up to 80% of the additional investment costs of going electric compared to replacing vehicles with diesel equivalents; and even greater levels of subsidy for some public fleets.

“We are proud to grow our team and our reach through such an esteemed and innovative provider of solutions in German logistics,” said Craig Knight, Hyzon Motors CEO. “We look forward to working with the ORTEN team to accelerate Germany’s move to zero emissions through hydrogen fuel cell technology, and to deepen the customer relationships ORTEN has in the beverage industry to include the potential of Hyzon FCEVs.”

“Looking back on a history of nearly 100 years of bringing innovative solutions to our commercial and municipal customers, we are happy and proud to join forces with Hyzon to build a better future,” adds Robert Orten, long term owner and CEO of the ORTEN group. “Being a first mover in the field of battery electric trucks, we now have the opportunity to scale up our proprietary electrification and body building know-how. I would like to express my gratitude to my employees, customers and suppliers and look forward to a successful cooperation with Hyzon

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