Hyzon Zero Carbon Alliance welcomes Australia's leading natural gas producer, Woodside Energy

ROCHESTER, N.Y. and SYDNEY, June 25, 2021 /PRNewswire/ -- The Hyzon Zero Carbon Alliance, an initiative of leading companies working to accelerate hydrogen-powered mobility worldwide, has added Woodside Energy as its newest member.

Championed by Hyzon Motors Inc., a top global supplier of zero-emission, hydrogen fuel cell-powered commercial vehicles, the Alliance brings together active participants along the hydrogen-value chain – from production to technology development, from innovation to investment.

"Expanding the Alliance with another global leader active in the shift toward zero-emissions transport strengthens the capability of our members to identify and deliver real, cost-effective solutions,'' said Craig Knight, CEO of Hyzon Motors, based in Rochester. "Woodside's participation provides further proof of the importance of the Alliance as a platform for collaboration, development and - importantly - action."

In joining the Alliance, Woodside Energy, Australia's leading natural gas producer, brings a deep commitment to the production and distribution of hydrogen. Woodside is pursuing development of a number of large-scale hydrogen production projects and technologies as part of their mission to be society's trusted energy partner.

Woodside's membership will complement the Alliance's existing members' expertise to drive scale, speed and collaboration within the hydrogen mobility sector, and will move the Alliance closer to achieving one of its primary goals - to lower hydrogen costs by harnessing the power of strategic partnerships and a united industry approach.

Woodside will join the nine current members of the Alliance including Ark Energy (a subsidiary of Korea Zinc), Total, AXA, Bank of America, Hiringa Energy, Modern Group, NEOM, Raven SR and ReCarbon.

Woodside Vice President of Technology Jason Crusan said the company was pleased to be part of the Alliance, specifically because of its role bringing potential consumers and suppliers of hydrogen together. "Aligning Woodside as a key member of the Alliance is part of our 'customer-led' principle that underpins our hydrogen work," he said. "Hydrogen has particular advantages in long-haul, heavy transport, making this market segment a key near-term use case."

As a uniquely demand-led initiative, the Alliance aims to capitalize on its direct access to fleet operators worldwide to create hydrogen ecosystems in parallel with vehicle deployments.

By aligning the supply and demand side of the sector, the Alliance is designed to overcome some of the biggest hurdles faced by the hydrogen industry to date, making zero-emission fleet operations a reality in the very near term.

To learn more, visit hyzonalliance.com.

About the Hyzon Zero Carbon Alliance
The Hyzon Zero Carbon Alliance is a collaborative initiative that aims to drive scale, speed and cooperation while lowering costs of hydrogen through harnessing the power of a united industry approach. By bringing together best-in-class players from across the hydrogen value chain and supporting sectors, the Alliance provides a platform within which industry can collaborate to develop hydrogen ecosystems and offer mobility as a service to hydrogen transport customers.

The Alliance specifically identifies and targets opportunities across priority regions worldwide based on customer demand. In doing so, it supports the development of an increasingly widespread distribution infrastructure, and establishes models that result in replicable project deployment and enable greater volumes of hydrogen vehicles on the road with the aim to accelerate the energy transition.

About Woodside
Woodside is the leading Australian natural gas producer, operating 6% of global liquefied natural gas supply in 2020. As part of its decarbonization efforts, it is exploring options for producing lower carbon energy – including hydrogen.

Woodside is the operator of the 'H2TAS' Bell Bay Renewable Hydrogen Project, proposed for the Bell Bay Advanced Manufacturing Zone. In January 2021, Woodside signed a Memorandum of Understanding with the Government of Tasmania, as well as a term sheet with Tas Gas to explore blending hydrogen into the Tasmanian gas network. It recently announced a potential export component to H2TAS, which it is investigating alongside its Japanese consortia partners, IHI Corporation and Marubeni Corporation.

It is also exploring opportunities for hydrogen production in Western Australia, and internationally. 

Forward-Looking Statements 
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Alliance's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Decarbonization Plus Acquisition Corporation ("DCRB") and Hyzon Motors Inc. ("Hyzon") disclaim any duty to update any forward -looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. DCRB and Hyzon caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either DCRB or Hyzon, including risks and uncertainties described in the "Risk Factors" section of Exhibit 99.3 of DCRB's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on February 9, 2021, the "Risk Factors" section of DCRB's definitive proxy statement on Schedule 14A filed with the SEC on June 21, 2021 ("Proxy Statement"), and other documents filed by DCRB from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements, such as risks related to the ability to convert non-binding memoranda of understanding into binding orders or sales (including because of the current or prospective financial resources of the counterparties to Hyzon's non-binding memoranda of understanding and letters of intent), or the ability to identify additional potential customers and convert them to paying customers. Hyzon gives no assurance that Hyzon will achieve its expectations.

Important Information for Investors and Stockholders 
In connection with the proposed business combination between DCRB and Hyzon, DCRB filed a proxy statement and other relevant documents with the SEC. Stockholders and other interested persons are urged to read the Proxy Statement and any other relevant documents filed with the SEC because they contain important information about DCRB, Hyzon and the proposed business combination. Stockholders may obtain a free copy of the Proxy Statement, as well as other filings containing information about DCRB, Hyzon and the proposed business combination, without charge, at the SEC's website located at www.sec.gov.  

SOURCE HYZON Motors