Hyzon Acquires German Electric Truck and Body Company
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Rochester, N.Y.-based Hyzon Motors — a supplier of zero-emission hydrogen and fuel cell-powered commercial vehicles — announced the signing of a definitive agreement to acquire Orten Betriebs and subsidiaries, and Orten Electric Trucks, German manufacturers of innovative truck and trailer bodies for the beverage industry.
The transaction is expected to close in the fourth quarter.
Terms were not immediately disclosed.
“We're proud to grow our team and reach through such an esteemed and innovative provider of solutions in German logistics,” said @CraigK_Hyzon. “We look forward to working with the ORTEN team to accelerate Germany’s move to zero emissions".
Read more: https://t.co/sHXspcGEzX pic.twitter.com/f6Zh68dJU2 — Hyzon Motors (@hyzonmotors) June 14, 2022
“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 fuel cell-electric vehicles,” Hyzon CEO Craig Knight said in a release.
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 body building, all critical elements of Hyzon’s fuel cell-electric vehicle build process. Additionally, Orten management has extensive, long-standing customer relationships across Germany, Hyzon reported.
“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,” said Robert Orten, owner and CEO of Orten Group. — Transport Topics
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