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Hyzon Looks Promising With Hydrogen Trucks On The Road

Oct. 05, 2021 12:03 PM ETHyzon Motors Inc. (HYZN), HYZNWNKLA, NKLAW12 Comments
Enterprising Investors profile picture
Enterprising Investors


  • Hyzon is a recent SPAC merger of a heavy-duty fuel cell vehicle company. It smartly leverages its asset-light model to increase production fast.
  • The company is reasonably valued based on its projections. This leaves plenty of upside for patient investors. It still has to prove itself on execution.
  • Blue Orca Capital wrote an extensive short report about Hyzon. The short report doesn't attack Hyzon's technology.
  • This idea was discussed in more depth with members of my private investing community, Green Growth Stocks. Learn More »

Fuel cell hydrogen truck engine.

Scharfsinn86/iStock via Getty Images

Hyzon (NASDAQ:HYZN) builds hydrogen-powered electric vehicles for commercial customers. It powers the vehicles with PEM fuel cell stacks that convert hydrogen into electricity. The fuel cell system has already been deployed on the road in ~500 vehicles. It works with third-party OEMs to

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This article was written by

Enterprising Investors profile picture
In short: focus on free cash flow growth, GARP, value, thorough analysis, and a lot of common sense. I follow value investing principles and do my research through publicly accessible knowledge. I look for stocks trading below their actual value. Buying at the right time and holding shares for a long time leads to attractive profits. All expressions are my own. I do not represent a company. I cover stocks worldwide, mainly in North America and Europe. All my experience in stock picking comes from reading books and articles. Any investments you would take after a piece or discussions with me are your own responsibility. You should do your own due diligence before an investment.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of HYZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (12)

pat45 profile picture
Enterprising Investors profile picture
@pat45 They targeted 85 vehicles shipped by now. The selling price for a class 8 truck would be ~$240,000. It also sells smaller trucks and city buses, so the average price will probably be less.
wantedtoretireearly profile picture
From Wedbush: "Hyzon is a hydrogen leader, focus on investment thesis not the bear noise. Taking a step back, we are starting to see a number of pilot projects globally (including in the US) and increased activity around the use of hydrogen for the long haul trucking industry and ultimately believe Hyzon is quickly establishing itself as the clear leader in this key market opportunity. While the hydrogen trucking opportunity will take some time to play out, we are getting increasingly confident about the growth and adoption potential for Hyzon over the coming years with diesel trucking conversion opportunities abound. We maintain our OUTPERFORM rating and $15 price target on Hyzon
Enterprising Investors profile picture
The shorts can't get enough of it, another shorter piggybacks on the previous report with a new short report:iceberg-research.com/... again about the Chinese subsidiary of Horizon with a lot of information that doesn't apply to Hyzon. It also disputes the technological leadership which has been tested by a well-respected third party, TUV Rheinland.

The short report from Blue Orca Capital carried more weight in my opinion. This is just a lot of subjective ranter with few actual claims about Hyzon.
It even mentions the previous spin-offs that didn't have success. These are irrelevant for Hyzon and a sign of entrepreneurship and perseverance of the founders.
@Enterprising Investors - one has to be blind not to see these shorties are colluded to push down the stock price to enrich themselves with BS rumors. Iceberg short report came one day after the company's rebuttal. I wouldn't be surprised to see another BS report soon.
@Enterprising Investors Agree, as usual (unfortunately), these "shark" reports are some pieces of junk (to put it mildly), full of irrelevant, truncated, biased, out of context info etc.
Only one piece of info got my attention, I was not aware of it: their highly praised technology G3 Titan is planned somewhere in 2022, while for now they only have G2, which has lower quality than competitors. Then...how could we know that in 2022-23, where their G3 Titan will come to market, competitors won't come with other higher quality too?!
Thanks and good luck!
Thank you for the article...I do have some points:
1. The non-existing order in New Zealand: as you also posted in a comment, Hiringa is an infrastructure operator (a facilitator), so the 20 trucks are for TR Group
2. "Ahead of the competition" - not sure if true...
- Hyundai already has some tFC trucks: fuelcellsworks.com/...
- Great Wall, not even mentioned here, is head to head: fuelcellsworks.com/...
- Toyota seems to be pretty close
...and other soon, maybe @Davewmart knows more about the competition.
Enterprising Investors profile picture
@antoncretu Hyzon's specs are good in comparison. The new Titan 3 fuel cell should have an advantage over competitors.
In the case of hydrogen, more trucks could be beneficial for the infrastructure build up.
@Enterprising Investors - thanks for the article. You wrote this article before the company published the rebuttal to the blue orca report. Be interested in your updated views.

btw: Blue Orca as well as their shorties peers have short positions in HYZN.
Enterprising Investors profile picture
@PN88 The rebuttal from the company was about what I expected. They confirm the MoU's for what it's worth as an MoU doesn't mean anything if it doesn't convert into an order. They also explain the Hiringa deal and disclaim the 20 trucks are sold to TR Group in New Zealand. Delivery is expected in 2022. It's unclear if this changes the guidance for 2021 or 2022. A slight delay in revenue wouldn't bother me but I would like to see some sales with a good margin in 2021.
Jamjack profile picture
Thanks for the article. Still well worth keeping my underwater paper loss, small position given the future I see for hydrogen and this company.
Enterprising Investors profile picture
@Jamjack You're welcome! I always start with small positions. I can still add when the company shows it can follow its projections more or less.
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