Hyzon Motors to go public through $2.7bn SPAC deal

Hydrogen vehicle manufacturer Hyzon Motors will soon become a publicly listed company as a result of a $2.7bn special purpose acquisition company (SPAC) deal with Decarbonization Plus Acquisition Corporation.

Announced today (9th Feb), the transaction is anticipated to generate gross proceeds of up to approximately $626m, assuming minimal redemptions by DCRB’s public stockholders, all of will be used to fund operations and growth.

Hyzon Motors said the decision will help its strategy in the hydrogen transportation sector.

Craig Knight’s leadership will remain intact and he will now be CEO of the combined company, overseeing its strategic growth initiatives and expansion. He will work alongside Hyzon’s current executive team.

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