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The Honeoye Falls, N.Y.-based company raised $559 million in primary capital through this business combination. Regarding its SPAC listing, Hyzon CEO Craig Knight said, “Our public listing will foster greater awareness that the future of commercial transportation—hydrogen fuel cell-powered vehicles—is today’s reality. It’s the beginning of a new chapter in the history of Hyzon as we accelerate the transition to hydrogen commercial transport worldwide and advance our commitment to reducing carbon emissions in a sector that is one of the largest contributors to climate change.”
The stock opened at $9.70 on its first trading session, which was 34.3% above its $7.22 pre-listing price. However, it has since declined 19% in price and is currently trading below its 200-day moving average of $10.50.
