Recent HYZN transcripts
Associated HYZN filings
| Tom Crook | executive |
| Parker Meeks | executive |
| Stephen Weiland | executive |
| Craig Irwin | analyst |
| Steven Fox | analyst |
Thank you for standing by. My name is [ Joe ], and I will be your conference operator today. At this time, I would like to welcome everyone to the Q2 2024 Hyzon Inc. Earnings Conference Call. [Operator Instructions]. to with conference ICR. like Cook, to now Director Managing would turn over the Tom I
me today Thank Welcome Officer; Quarter With to operator, and Hyzon's the you, and Financial Second XXXX good Steve Weiland, Earnings Officer. Chief Parker Meeks, are morning, Chief everyone. on Executive call Call.
Actual differ that from future explained of stated, a could forward-looking As accompanying the earnings at in press those today's find detailing cause forward-looking and our Today's our financial include are of press plans section the discussions the presentation. website. a regarding the results reminder, you differ results our statements call Investor release can release materially and might presentation X and and end of actual factors results expectations. Relations in Page statements the to
the Forward-looking are speak as statements only on which they made. date of
reliance not I'll CEO, cautioned put turn to call are Parker over the that, You forward-looking our to undue statements. With Meeks. on
you XXXX which heavy we commercial, our Good progress made, technology have for the morning, position in we first-mover joining and sharing earnings and second call. believe look to our mobility. thank organizational forward I decarbonizing quarter strengthen
start-up technology Cell include these the advancements of continued Fuel On leading our XXX-kilowatt technology. towards side, production
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to technology, We continue to truck regarding convert will advance fuel and our includes orders and totals agreements we into potential strategic work find future. recent with in the definitive fuel to partners and the which customers cell near to our our commercialization of company, hope investment ways proposals cell
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refuse and stakeholders demonstrating partners the collection commercial refuse vehicle interest truck. the On our industry front, across are collection for customers,
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of cases, in these As into of their beginning the have half to deliveries commitments. we government as initial to vehicles requirements fleets expect commercial and to success Subject second commercial with large previous of own zero agreements in XXXX. their customers' incentives, the discussed sustainability in quarters, prioritize definitive strong many because emission motivation in purchase we enter trials, they XXXX
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trends the XXXX fuel $X.X the future at cell in for U.S. technology. power fuel With heavy-duty application in attractive Hyzon's estimated causes these by mind, cell an market stationary billion
to in SOP continuing the We're for second facility track to Bolingbrook, our Moving development Illinois our make XXXX. cell progress with and C-sample half remain our in of on fuel technology.
quarter, more Hyzon's XXX a approach stacks a offers which C-Samples smaller, C-Samples total As XXXX. reminder, the more when to from compared of kilowatts for reach XX% systems fuel stack, XX option single XX% combining X of a and generates or built half cell the XX in a lighter, cell power. of net to built the In conventional equivalent cost-effective second fuel system fuel-efficient first a we
in-house end-to-end durability our begin we QX, rigorous production. commissioning supported our fuel fuel our today quality cell capability and expands progressed testing, for by stand once cell control test testing in eighth ongoing which also We
which we expect Our shifts. XXX cell be fuel remaining complete, SOP achieve to substantially to capacity X XXX-kilowatt systems on spend point, CapEx is annual at
future An expect anticipated scale-up this with We X our plans and production programs. along production capacity initial our rate, with this expansion customer our years. capital-efficient next demand testing, to rates for in planned the capacity team sustain confirmed line
touch Finally, on let me environment. the market
Hydrogen here credits in Revenue the Internal support international U.S. Section Protection While for clean HVIP $XX.X administration's recently has vehicle first $XX,XXX Code in its application XXW Clean and in Program, Environmental Agency's tax Hub agreement X markets, continued This billion seeing support regional funded includes hub and the Ports California, which strong hubs, program, including waned are the government in billion we growing hydrogen commercial CARB's arches. program California's a the $X.X
bullish hydrogen provide selected, year be We has and up to facility laws, our could hubs Ports If X,XXX XX% prospects rates. which granted the XXX an which awards decarbonization and annual potential the fund months. first to support manufacturing manufacturing application over for yield advanced potential match the past the as to to see thanks the and selective. states grant momentum energy and expect I the Hyzon year-end before, Program also shown in the to several such well to is of which of and before infrastructure applications, our grant cell industry of end submitted company, Bolingbrook systems, cash have committed from recycling the are our California, of the of Hyzon under beyond as fuel several political Clean we help clean bipartisan our for could order expansions by $XX.X additional breakeven remain programs the November, has production continued to million future mentioned funded anticipated long-term we supported program. changes ports to production fuel structure flow cell the well. a Despite trucks be an so largest up under on recently federal fuel
call I the Steve, and discussed X for XXXX, would to we quarter. the goals primary over last Before milestones which anticipated reiterate like handing to
system cell fuel fuel First, SOP X our truck of cell XXX-kilowatt and Class platform.
signing achievements, will for reach clearing and to Class the commercial agreements. a We be anticipate planned on expect to half the customers; Recology XXX-kilowatt fuel XXXX. cell multiyear fleet to we single trials trials, thus truck Subject the platform large large XXXX, the in platform technology far refuse XX in commercial second, month. major fleet cell fleet trials our on successful expected positive and XXXX. back to results commercial our commercial in large with stack fleet new These system X agreements launched large this scale-up XXX-kilowatt SOP platform of Class XXX-kilowatt fuel a the January X truck path launch of These through with fuel of and second truck and technology are leading July for
Additionally, fleets multistage the to commercial we agreements tranche under their anticipate advancing existing commercial agreements. of second
previously, setting of commercial success new to in fleet I progression. material As which foundation significant any evidence large large progress alongside in trials stated have contracts, converting scale-up fleet Hyzon's pipeline
discuss I'll securing more over to to that, hand additional Finally, financial strengthening results our we With are focused it and balance sheet Steve business. capital our to in detail. fund on our
you, Thank Parker.
position now sheet we and the Australia, recap environment million narrow North us estimate our with $XX activities regulatory will refuse put on focusing decisions we believe opportunity focus Class are strategic and After of that we a disclosures our these the that what to is and with ultimately and $X difficult Europe comprehensive our million, approximately a connection X the Parker markets review, in American that in a will cash. discussed and support on approximately our preserve which prior tremendous Just markets. there we succeed. repositioning. to incur balance exit the We of In of charges is in took to
disclosure, making estimated related XXXX. come of payments anticipate in costs cash down. While since and the estimated of cash third quarters all second the We amount fourth total initial has impact the in our increased has the quarter substantially incurred these the and
monthly complete, the end net operating believe based burn are we of regions our core cash now, were difficult year once recurring necessary drop by employees' but these $X.X of how we still the actions that average to continued as appreciative actions, announced approximately support down are and will are However, do operations. our our supporting while on our we and initiatives. wind impacted in These deeply we million accomplishments
quarter the our results to of second Turning for XXXX.
compared Our XXXX million in to second quarter revenue XXXX. revenue X was $X.X QX
an to write-downs for actions comparable Cost related cost for primarily accrued associated prior Our second customer. activities write-downs well the U.S. primarily the Cost was came delivered and and transition quarter operating versus reflected Cost revenue to recognition of given trucks million for with PFG continued accounting purposes of treated quarter this period $XX.X revenue to XXX-kilowatt in lease parts quarter XXX-kilowatt primarily spare inventory in $X.X to of for Europe. to of revenue the as for the and provisions the to are Australia inventory the platform. our customer related sales in contract restructuring XXXX this a the that as period. inventory in year of million prior as year Europe revenue in
versus came the came of efforts of expenses pleased in at the R&D, spend. quarter net reflecting R&D low material partially prior SG&A personnel period, ranges, to offset our to below to that million all second or are R&D by $X.X cash reflecting burn our and $XX.X end higher manage in year costs. million in R&D costs, concerted report the guidance We XXXX lower
The $XX.X guidance SEC the the continued $XX development in legal year-over-year in write-down partially higher primarily million of came quarterly and coming million quarter deposits. by cell second supplier stock-based was million our SG&A in certain efforts anticipated recorded reduction and at the came last timing in SOP. prior $XX spend below and driven year in reduction our decrease to period. second efforts, R&D range XXXX quarter than in by costs settlement certain the certain activities quarter overall fuel of a in spend, fees year, primarily million in million, development of versus compensation the due support of an offset professional Second and $XX.X less to in of reducing $XX on SG&A
to Second guidance our below just million bottom quarter the million SG&A range. came $XX $XX of end in
charges asset and charges period. Australia compared to recognized of prior also million of the Restructuring our in this We restructuring quarter impairment wind-down employee-related and activities year in second XXXX no include related Europe. charges to the quarter charges $X.X in
for of guidance million $XX Our range average the quarter million. monthly low XXXX for in net of quarterly cash second $XX was total to a for our million the end burn $X.X million of the quarter, coming of $XX.X at
spoke excluding from burn, million quarter net at settlement due $X Rochester increased the proceeds by down $X.X timing the reduce first restructuring about $X.X up burn to the reflects working sale facility, we million estimate our last Although on our slight that to are quarter operating monthly SEC average further was payroll. we burn, of monthly and million from quarter, Based moment, how we an cash the year-end. payment recurring estimated the cash the net and average net and the first monthly first of uptick capital will which slightly focus average actions from this
Our first XXXX. and investments at short-term our XXXX. July color million cash, raise in equivalents company was stood I'd provide since some listed as cash to June like $XX.X of our capital on additional XX,
It's against became which to raise as this been shelf-eligible also we noting with out Once occurred, such we executed market we actions actively worth it this June. that authorized filing have in path in critical been and our registered had laying share is that We shelf capital, promptly. increase. unable until
ability to in this market ingredient believe trading a raise we provide that liquidity, better for capital. groundwork for improved challenging, very raising capital is current offering the helps While key an the
prior increased XX trading days XX provide million a shares groundwork, the out following the as successful offering trials daily from to kW seen days average We We path trading meaningful more this to approximately with this to it. strategic potential volume investment capital help the interest. XX believe a that day our to have and XXX combined will continued XXx play raises
Lastly, at to providing this time. actions raise not given the are With I'll cost ongoing efforts, for dynamic and remarks. hand capital guidance we conditions, further closing Parker financial back that, our it
you, Steve. Thank
deployed encouraged with and truck. feedback first Class We from XXX-kilowatt and a fuel cell X data with vehicles the from are trials our first the by PFG
as, tell is completing Hyzon Our as well trial diesel customer with battery in in than and fuel better that and trucks, cases, daily efficiency some are cases. that better us outperforming, up to XX% some operations use than customers trucks diesel major electric
in We Hyzon year the to heading and for to track are cell for thank trial and the fuel manufacturing single-stack XX into whole half beyond. successful, the this improving growth to as of multiyear commercial trials. large trials pipeline back of strong commercial begin refuse We foundation those this and progress expanding summer, serve efficiencies currently in excited schedule, of their second of targeting the U.S. XXXX in our our the truck SOP Bolingbrook, like would agreements dedication. on Hyzon our and would system fleets I on facility conversion our Illinois. a If of remain for team XXX-kilowatt continued this while capabilities full
reducing for heavy-duty for questions. we Finally, through goal stakeholders thank operator, our like sharing industry fuel for their the that, I customers are ready to of continued With partnership and would now and technology. hydrogen emissions cell across our
[Operator Instructions].
Craig the line of MKM. question comes ROTH Irwin from first of Your
a quarter was in really That busy there.
we at start on actually truck battery probably I it's not with They discussion are enough Parker, ranges the doing have actually people or we actually performance of were of guess refuse electric the that to when completely quite don't vehicles. the say where we practicalities hard mount batteries the Expo, the heard to start. sure and necessary could refuse limiting. ACT I'm trucks. So,
you the and really, versus such refuse economics superior in of a why showing the your are unpack you discussed iceberg. your remarks, practicalities of cell Can fuel just the truck maybe people interest. strong it's customers implementation So, the prepared diesel on hydrogen tip for
great and hear the thanks Craig, to much you. question from for
much it. things time. trolling the So, solutions we it's amount terms realized market, year nail what do payload are frankly, as collection really options to vehicles this of our [ customers to really fleets is emission same talking A will case, stark as could we the those garbage able X the in have of our break America, refuse be amount many you've love space into about we be platform some North the right and platform battery to room is are of topic changed head ago, credible carry what ] large customers, to understanding trucks the most a things. we the category, the do you're gain-driven engine outperform perform that I great the perform cell customers of a was of thought collection vehicle, in particularly it that going have need a so to would need we low-speed job for for today, fuel given combustion several a to region our hit on as dive certain this that able forward. think trucks because, of the significant would have important for the that But but theory use been be stop one thought the a really in in When dialogic
XX% that ability track advanced able can having the trash they They moving, need all complete truck free the which, right? power steadily of the refuse can households, and that that right? instance, to numbers to not can right? miles that our you in, refuse require way to look it only trips into road the us and/or to some clients they make be grades, up to to their amount And steep garbage the complete the but in penalty the kilometers route. number could XX% Think all be to look day, of of X/X got which they to garbage pack as XX To incredible able to garbage to you the bodies, X,XXX which refuel on most route When of day's the are per the manufacturers trash landfill while handle lifts hills can build payload truck route is because trials, a that power truck collection has the day less vehicles to need course, do power needing put have battery steep to payload just plus the up of these today, power our cannot garbage today have battery technology what innovation need operate up, on all needed of hilly without obviously, refuse a because the body at bodies, to during about be XXX X,XXX same from to Sydney. that massive can of today, They truck with it's work, requirements truck pick more in that truck for bin completed Australia, efficiencies safely. XXX of some part the and able simply battery, initial that for to truck to of really garbage trucks batteries. When that's That trips for to need, biggest and landfill. Of these handle That They've that cases, neighborhoods the in also on We're about the that a garbage in to make able body, tell had terms to demand With on months, of battery all with penalty. hill, tool. carry carry way power applications creates seeing houses. per to to from it what that need a stay the maybe suburbs combustion up in do. demand to carry X,XXX need payload, the we garbage hills truck means they're do. where same payload refuse the X/X trial was we lifts the of truck truck number more tons of of add of be to down carry In operation give to increasing has have is trucks about just up customers they plus trucks need the up. based X day. some in collection, a And
case. refuse to use meet the goals with the and thankful their probably the needs. emissions based why which many to towards fact on dielectric they've only even both for drive the And at When that's to drive the you These we're and through in are But X, have coming work lower willingness years your with don't use announced large a in see refuse close facing that's we're sustainability announced large that X today low fleets pay. to combine done least reconstruction with emissions that So that's leaders been the and the CNG cases, Board-level of we least very the next meet to partner many fuel we only for say, one the to demand our case costs instance. companies to that we companies trials. in when cell upcoming of customer at vehicle given close that able truck the see X, results and single to that being market publicly
a their in particularly California, refuse city expand fleet state and will collection large So RFPs that refuse XXXX, to They again And is at have they routes these big X are per their be compete ability now they to certain either scoring see, refuse to market by on to around that XXXX, retain that the today's of choose major trucks tens need they requirement requirements. they a county the are in and these customers goal XXXX. you in packages that of And portfolio where provider bid to putting They're and year battery and trucks their big city, scoring customers these part fleet to XX% a in if management their don't the And their collection have or emission in able how service. their they a companies trucks technology, many the in want have has level, their this if XX% a of emission that fleets. with to mechanism into an that already trucks have contracts county more fleet. raise have do share want contracts they buy deliver if to X route.
and performance the for on exciting battery, we see, gap equation, what and is that the And it's that vehicles. is fuel gap, it's thing and it's expectations we particularly the substantial So, think economic an frankly, efficiency refuse cell most substantial. our think fuel between for a economic that collection we means
on case support So efficiency its our to assumed is better fuel efficiency hydrogen pricing without is which $X that kilogram truck holds over of up life Sydney is that same kilogram given half a fuel what truck trial, saw a that here the the be and if at diesel, subsidy. fuel Xx in cost use fuel. a to U.S., if per difference without is fuel And based dramatic fuels diesel than at cost subsidy a efficiency cell to we that kilogram our means deliver could on a the up fuel $XX of of $XX today
seeing of and soon. efficiencies when the to because very closed to fuel use it's performance high that's to Canada fleet both see, with particularly we to we're comes the the versus first that equivalency not large been the expect can a across demand cell economic the and very trial cases side, again, and have it and refuse you from battery advantage U.S. were very, As quite fuel of, advantages performance combustion confirm
adoption. the drivetrain trucks, our So, for truck people A the you're out refueling the infrastructure the cite ability infrastructure or in permitting hydrogen trials, there. attention there's the that handling because fleets and sufficient available companies lot are that whether EV Can challenges refuse just put charge pre-existing is you becoming to lot lines to investment had fuel that or early time of of the structure as far not how on have your school anticipated either for or to refueling new talk want. be customers paying can't but and a about available they truck as markets. And some the the other bus fleets may necessary vehicles on community facilitates to charging for not
critical working on. Craig. actually we're a that's And Thanks, area that
my on As is you first more energy infrastructure side. know, actually the environment
technology Hyzon our So, some something back the infrastructure infrastructure right, what over its and to a have infrastructure around case bringing for both and half required to to than fuel cost the going just Hyzon partners of fuel molecule I to has deep our overcome. technology the cell this on expensive into given life see been And vital. be easier again, we because and with one But said, really an collaboration less the electric is do its in challenges hydrogen by the and in path inception, truck one. technologies trucks
anywhere scale the fuel refuse-collection with the And platform vehicle, it's or to fleet in from that whether That trucks new we're all to as electric type warehouse update fences refuse to We're behind the actually helps They're And solutions, what fences, diesel, differently seeing. because line trucks going are behind scale, the both long-haul markets yard us being site and if are fences, weekly, collected at X and that battery distributed with daylight. question line and with least a fuel right? handling and we that diesel of so these is typically behind have use on back of fleets explain produced the case base used either means to of going in CNG, CNG. diesel, they’re not cases, to what receiving we being are the fuel Class from road typically collection let point-to-point are off-site with if deliveries, X me comparable. it's today, part over in being right? and/or doing trucks not hydrogen and setup. with on better Starting being they cell are XX intermodal Again, perspective all of because emission XXX these landfill fueled to the that's
could for you our regular any environment, When electric, normal trucks, with. concentration fuel. the In large likely infrastructure XXX these for at in of there's charging generation challenge, And any fleet and there's fleet many CNG about expenses. we XX, they there's industry, of all from you is When already look either where If XXX, talking in dramatic, at it real a trucks, trucks, they're outside And where deliveries producing battery the or you're battery and in transition there's behind meaningful lots a and the fuel cost. refuse of we some look run that number or of people people power cases, of grid fleets perspective that activation particularly a do collection a distribution that into So their trucks this transmission that mega how battery look at try capacity. are operation their That's trucks the perspective. in that's typically. own are, be working fueling, is for typically to is right? these more where required these substation
equipment the fence. that they're using power, you see XXs the people put installed charging talking the only the this a getting we're never all trucks out into about some And almost of and is hundreds minus when level of estimates that cost if cost on and you're So, there, counting assuming case. potentially of single is charging, battery of which power
who doing for quantifying they've from some some So, take And power applications to and told seeing us to authority of it years told in the a trucks for it's charging of with advanced the of and it. anywhere worth been are cases, going gone to fleets take, they've a higher outside about couple hundred for from in battery X had we've are of the When is where a again, need at fuelers or fueling that can point. which single challenges, XXX LA, get think the you they grid infrastructure Francisco, talk imagine independent, But start, like online to about electrical would the mobile right? get today. to infrastructure San standpoint, can you what transition the when you we're places the the the and that, capacity cost electric time trucks be more customers to fleets will X
typically right? of publicly, Group in trucks that instance, the truck need from tanks XXX XX board, the for where to is XXX launch on much of are fueling providing our an pilot in XX, mobile on also steel X minutes, our from So, to for going given as terms doesn't delivered us And are typically truck the gases Performance use for back tons kilograms or mobile onboard we gaseous the These fuelers the the the mean disclosed as for Which for facility. typical that garbage first to fueling is of XX XX X packaging that fuelers Food the dispensers of on site fuel, the anywhere depending minutes. as important have X or that case, XX liquid garbage to to truck, we case that's for, to to Class carry and allow up advantage given rates.
some trials, XX-to-XX-minute really doesn't Class In a a day, double fact, want that the seeing range on miles XXX-mile if them fill it's our truck today cases only whereas on in in that typical XXX have is truck they range even our a battery to to of the we're XXX use to option. do basically, for the X
that's fuelers, with start So, mobile today. available we
we that. our have dispensing. partners that to in evaluate, then select, with permit provide with agreement customer on-site have plan commercial line the a multiyear and We install And
have fuel commercial our maybe case that trucks the to Class a And So per and at XX right? year, the XX X X the typical we to mobile look back multiyear will again, if fuelers, trucks. first a structure, probably truck, X-ton going on mobile you day, fueler XX use to cyclical
The maybe from trucks. XX second year, anywhere to XX
different is development and expense timing liquid site is for in year, can just year and four with our fundamentally of of all the like it the that on first while the fueler. lead You're fuel a local expand getting mobile items that to bioelectric and bioelectric the the facility but mobile up will again the you chain permit with to in development partners really time. that infrastructure you're field that the has that. And And to on-site that are typically the utility to the that customer go first that if got fueler, add profile and certainly, working that with up to them versus to back a construct the are the permitting, over and have already plans with higher capacity grid there second all transform trucks again, options of site we're beyond potentially which scale deliveries is the capacity of XXX well to to XX tons in trailer to it to you've using a supply fuel come structure in equipment, long fuel and
lay months, fuelers to to committed that with are lies And very I clear collaborators. people see understructure to cell. say, XX have next I'd to permit with come a many XX as path, fuel think they're they'll In the we're out with this starting and advantage design our months permit actively that life install some to XX the over this fortunate dispensing. first infrastructure customers it's engaging with the fleet plan case, one to see So, us partners Global with who to infrastructure, get our to XX
something that XX something And Is hear you? Last would. okay, see production trucks. C-Samples to you they you tracking take market Do said things question, the XX if X this you to first maybe my exactly the out customer commercial that for is of the I'm sitting are this track Class where proof lay important trucks. to willing to an has to that is I willing my right the later may. how for say, on it's maybe stack the on-time up It's think for how that the I'm some stand this take nice now point bench customers base? it's first on and this year. really change encouraging on in us might XXX-kilowatt Can
month think schedule, been again, operation have those with last low-margin business Class It our that trial in business These certainly on in quite business. on I focused fleets driving the platform that in overall fleets proud Craig. the are you truck Trucking first which they as the structure when we're fleets that of they they're their because large to end profit focused trucks. focus the on which launched that are schedules, our is to we that's platform, in longevity. across a And -- trial are is the products to They're have put durability, XX scheduled successful refuse excited and X on fleets large the on X is very large in focused of actively They've trial. the a at our typically look trial longevity low-margin quality.
very LNG start, are about to, There they're a in want making market. a of transition. we before, what them not been right? the OEM that is not high that that used picture SOP understand bar of sure So the is It's why we we're learnings, it's Which communicating and we're one that or They learnings, of these in trial, way have are part many learnings. the to able bring testing we're quality what to them them electric and fleets the see our in full very what cell through the worry. going process, seeing transition. testing but this we're from our into followed truck a they If the typical of and part fleets right? our automotive where development me. They on works and Whether our transparently show great, very finding. seeing our because fuel know They design are progressing, right? we're part seeing, SOP, showed learnings, don’t It's just facility we're process through control, battery in durability in of about not are they and CNG fuel are how just cell not in Hyzon
touch in changes and is whenever the cell we and it's see industry as in that it's we've in quality and control When since for them the one it's fuel touch to we've would they we the to efficiencies realize confidence [indiscernible] online the and that we viable those that expand XX standard put process feel they that because because have tell a that about for camera-based in additional trust. have. to that so, the start that implemented way design about in-house milestones, transparency, the results that that's have the we SOP, assuming we'll in, [ the the that product The that that full all brought about why open And to capabilities stack pass and SOP that process can that all can commercially done and is been and while show you of their they And over able language, the and testing it. way them ] speaks end-to-end full gives and that expect it actual truly working, showing system them we a something this confidence a process. later cell testing single it's see to we're been production the year, transparent feel and declare we our very further
what see product is a it that state they can a customers that and path the this to is our and we think is it scale they diesel, rely validation longevity, is the for they for to achieve the decades for they but As on has X think future, that. along on. have that right? that, they fully performance understand that has that And table is track path we and understand that, through desire of we with on which are in economics emission understand not durability we but that's a see that our going think the need get that job customers as can if want they a subsidy put to what the the we long done, absolutely who quality that they the don't subsidy to I food ahead, which product the are And critical on are materially. with need going they right? our trucks. Diesel ambition been And today, innovation understand have okay
in in progress ahead the hop the Congratulations go quarter. I'll and all queue. for back the
from Our Fox Fox next of comes Steven the Advisors. question of line
relative said a clarify you can PFG. Parker, you all, of couple of to things First
say, working? potentially time. How and XX do to a from maybe operating, orders XX at and that you to PFG your ramping So, vehicle standpoint envision partner of a XX vehicles with would of be customers just how scale? infrastructure And then first fueling you a large can what about would work had the your I And couple fleet follow-ups. specifically at talk
Steve Bryant, the for thanks question.
anchor those market. Specifically, potential goals X here to shown made of industry and commercial X,XXX deployed that quite the The We're are PFG successful. private X now of again, battery kilowatt we're PFG in a monthly trucks. they on trucks to decarbonization past think the are at we Performance the PFG fuel and real to X the the announcements hope few customer U.S. that the in agreement with public aware, is core innovation through Food to tranche year. in quarters. on the in is trucks signed U.S. the truck fleet they've the aren't total the with largest last have of proud regard next first that the the cell their driving fleet, into leader that And we're thankful XX side XX a Those they've that electric trucks supplier. to PFG back XX to truck XX we fleet is up first as Group, fifth very trial And we XXX-kilowatt terms over
further options that. the have will PFG to then XX beyond succeeds, there's to truck trucks for option trial that purchase Assuming PFG next the a in up XX And launch.
their event a can't the in X ops their at So, speak when we celebration we're in Fontana trucks January there. currently And delivering facility trucks put had I first facility, which were into that those plans. closely the fuel who customer site I does deeply of we today. fleet But PFG's their large example on very PFG what will diesel an work say with as on is truck,
then So, the just few infrastructure in the over know And we trailer sources a that to ] publicly we fueled expanding line trucks where the as we fuel fueling we right the XX potential for how typically pattern midterm Pilot. order as in I've as considering by other see was by potential being deeper with truck different by it are evolving mentioned how are I fueling [ in those initially over our provided through with their Today, cell model into trucks as in solutions total a get that they're time. we time. fits fleets approach on before, into walked fueled marketing long-term middle, locations things with PFG Fontana and and
fuelers, based entire on it's fuel on then on PFG mentioned you X the So, fueling of together will they basically for the XX set the today before, fleet be for I total. will in like through and tranches, capacity a again, it ground can or temporary the if solutions on have of that transition mobile second instead this mobile XX tranche
they baseload going time you some permanent that's fueler. fuel is to in solution trucks that single a on-site of should and As right? at in a that economically a solution. liquid that station, of and through that at the XX trailer fully total fueling XX can truck work type the the a pattern And the theoretically news progress is they entire option for we've through bring at PFG, take we you a pattern. the ahead trucks of tranche really with which XX planning to further fulfilled, install from exactly facility XXth imagine facility. permanent from So permanent start plenty good need if you XX can of for about been that we're installed should point, But look transition the installed And only solution. baseload to second get you full trucks be XX mobile to go to as to fueling and even XX, the
want in short, are like the make viable into that capacity to are that well order and we truck online into from fueler range. third online and and customer additional in a sure for mobile that plenty brought solution. solution as of tranche being of that area PFG pattern, and make that So, got to the XX-plus there's And of viable we've solutions we all course, fourth thought existing a truck an the get site, stations volume on are capacity
of future you about of execute then just in confidence just XX follow-up, being a to trials how your you trials terms time level short highlighted. of X? many in in over talk guess, as you're able you a period I Can that the fleets oversubscribed or year mentioned next, And
to ourselves this trial negotiations it All that the should customer alternative, be from, for fuel’s a executive customer, shaping it the fleet we've Steven. the should where a Thanks, scale fits worth approved the the trial for of the trial our then going potential in lots most over been proof we've the large outperform use some time, the cell and battery and when critical as washes of said business, fuel is how VMware into and economics, Typically, at case, finalizing electric for with and combustion step time. deep in is to We're really level final it where fleet, launch to direct fuel the It's before customer supply stage scale technology done doing contract journey. level. par the up. on and as obviously, a final through a over joint it's both the where OpCo markets come going where development
the large right? that's across both So, majority that XX And at platforms. fleets, are the stage,
is trial. X Class the already So, in
of given particularly truck in and both have is California in and remaining area, We're X Frisco X San Bay online in is different into Alberta. months over number we're what's additional And that truck year, or comfortable in and trials X.X Recology, August, while this now launch across the to Our first been fleets the July the year. trial track that on still platforms trial the large already confident, but month. are later of a in the starting trucks truck majority significant platforms XX% trial the with refuse coming the
vehicle they're fuelers, and if fuel So, on the both those our we the needed. can and rotate helps we’re available, cell a geography trials. right? stack we're also Helps that and in follow fueling the them to fueling us as concentrated from able How have support fuelers trucks. on how mobile both mobile ground And in standpoint, us just remotely
already those the by been minimizes need regional has it of in -- of need truck, performance, the the don't mobile terms demonstration And performance where compact of we So, X in really to trial. areas. we quite Class number platforms the are a trial operating we're which enthused same fuelers, in that in schedule
noted truck through, customers the we very steep that to the to remarks, prepared heavy case deliver use put one in haul, challenging that have our truck of case grade. have that As very in use have a
was parity kilogram use scalability. a level that XX% that And with per day, in let's that's a say, to to do were of case the that would they foundation result a that even price with tremendous a route. part of do the quite work to trial TCO And that it do for fleet, was, that work not of. does and great I fuel fuel roughly really diesel. Again, proud that efficiency. to combustion And trucks immediate if X,XXX-foot efficiency, climb better is class $X, You're we be talking we're than about do, as that tried that this a think $X to was all with battery able the at already fuel
the to quite doon. the relatively in out can't on Class of truck, returns confident given we're we get So, trial the refuse that truck wait route and the performance on truck, X. early The
Caroll, fact, in it's In speak is its great in collecting state Iowa. in through routes through it's the as its on Ways Iowa. we going refuse shape going today, final actually is which paces New Iowa, down facility, of final And
power the ready we both the our cell is show in collecting in did that customers And If on what Hyzon sister heavy for that trucks think now. you're program to market technology look going fuel Sydney. Iowa, the trash, truck as duty but prove that's to calling it's to going we truck getting large think into streets progress from trial Carrol, through we its truck, operation,
our session. Q&A conference now the will turn Meeks, over That I back CEO, remarks. Parker for concludes to closing
and as all forward update goals you, look Take joining this operator, Thank us. to We to we thank you care. for you continuing drive year. our to commercialization realization
conference today's concludes This call.
disconnect. now may You
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