DCRB - Hyzon Motors - DD (February 2021)

DCRB & DCRBW


Target details:
  • Implied market cap @ 10/share: USD $2.7B
  • Total cash after trust + pipe: $626M
  • US based - New York
  • O/S after acquisition: 270M
  • Target Website: hyzonmotors.com
  • Target announcement: dcrbplus.com/news/news-details...
  • Merger completion (estimated): Q2-2021
  • Investor Presentation:  sec.report/Document/0001193125...
  • About: Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon will produce zero emission heavy duty trucks and buses for customers across North America, Europe, Asia and Australia.

    Hotness:  
  • Partners with several big names, including Total (France), Coca Cola, Ikea.
  • 2021 backlog of $40M in revenue
  • 200K square foot building in New York and Netherlands, took over GM Fuel Cell plant in New York
  • Will produce its own fuel cells (this will likely be separate technology play for them)
  • 2023 revenue est 1B
  • Delivering a few vehicles in 2021

    Questions/Risks: 
  • Hydrogen distribution remains impediment, though I know big strides are happening
  • This looks a lot like Nikola (sexy hydrogen trucks) on the surface, so that stigma will be there, though likely unwarranted
  • I was a bit confused on their 500 "powered" vehicle language (it had a footnote), then delivering 85 vehicles in 2021.
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DCRG Bloomberg Target Rumor: Hyzon

freightwaves.com/news/fuel-cel...

https://uk.finance.yahoo.com/news/fuel-cell-truck-startup-hyzon-034042999.html
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Decarbonization Plus Acquisition Corp - DCRB

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