Hyzon CEO Parker Meeks resigns. In the next days the company could be dissolved

Hyzon is in serious trouble. Due to the insufficient hydrogen mobility market, Hyzon is simply running out of money. Now, in the next few days a shareholder meeting is scheduled, and the company is likely to be dissolved.

By segreteria

Parker Meeks, the former CEO of U.S.-based fuel cell and hydrogen truck manufacturer Hyzon, has resigned only a few days ago. As we wrote earlier this year, Hyzon is in serious trouble. Due to the insufficient hydrogen mobility market, Hyzon is simply running out of money. Now, in the next few days a shareholder meeting is scheduled, and the company is likely to be dissolved.

Hyzon CEO resigns

Hyzon started its activity at the end of the last decade, with focus on Europe, besides North America. The goal was to retrofit hydrogen fuel cell trucks for a growing market. Later on, Hyzon management decided to abandon Europe and focus only on North America. Hyzon also decided to start designing and manufacturing fuel cell stacks for commercial vehicles.

Apparently, the market demand is quite low also for this business, so the company needs fresh money to survive. According to the latest news, the current month of February might be the very last for Hyzon.

Highlights

MAN starts road testing fuel cell trucks in southern Germany

MAN Truck & Bus has started real-world testing of three hydrogen fuel cell trucks as part of its Bayernflotte research project. Operated by logistics company LoadFox for three months, the vehicles will cover regular routes in southern Germany, with a targeted range of between 450 and 500 kilometres.

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