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Elaine Wong, a director at Hyzon Motors Inc. (NASDAQ:HYZN), lately offered shares of the corporate’s Class A typical inventory, in keeping with a submitting with the Securities and Alternate Fee. The transactions occurred on December 26 and December 27, 2024, amid a difficult 12 months that has seen the inventory decline practically 98% year-to-date. In line with InvestingPro information, the corporate’s market capitalization now stands at simply $8 million.
Wong offered a complete of 17,587 shares, with the sale costs starting from $1.0634 to $1.0821 per share. The whole worth of the transactions amounted to $18,994. Following these gross sales, Wong now not holds any shares instantly.
Moreover, Wong is related to CEV Alternative (SO:FTCE11B) LP, which holds 2,000 shares of Hyzon Motors not directly. The submitting notes that Wong could also be deemed to beneficially personal these securities by advantage of her possession curiosity in CEV Alternative LP. Nonetheless, she disclaims useful possession past her pecuniary curiosity.
These transactions come as Hyzon Motors continues to navigate the aggressive panorama of {the electrical} industrial equipment sector.
In different latest information, Hyzon Motors has skilled a big discount in its money reserves, with unaudited money and money equivalents standing at roughly $14.0 million, a lower of $16.4 million since September. The corporate’s newest SEC submitting signifies a possible want for strategic or funding transactions to handle its liquidity wants and proceed operations. Moreover, Hyzon has elevated its licensed shares of Class A typical inventory from 20 million to 120 million, a transfer that acquired robust assist from stockholders.
By way of product growth, Hyzon has secured its second Gasoline Cell Electrical Truck (FCET) order from South San Francisco Scavenger Co, marking the corporate’s second FCET order within the refuse assortment section. The vans, produced in cooperation with New Method Vehicles, are designed to satisfy the rigorous calls for of refuse assortment, boasting a spread of at the least 125 miles and the potential of performing over 1,300 cart lifts per cost.
Hyzon has additionally accomplished a profitable trial of its hydrogen-powered FCET in collaboration with New Method Vehicles and Mt. Diablo Useful resource Restoration. The trial, which concerned refuse assortment routes in California, aligns with the state’s Superior Clear Fleet necessities. These are the latest developments in Hyzon’s pursuit of advancing clear vitality options within the heavy-duty transportation sector.
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