Another Hydrogen company bites the dust.
https://en.wikipedia.org/wiki/Hyzon_Motors
The news item is from https://www.hydrogeninsight.com/transpo ... -1-1797915
(Requires a registration to read the full article. I am quoting parts of it below.
https://en.wikipedia.org/wiki/Hyzon_Motors
The news item is from https://www.hydrogeninsight.com/transpo ... -1-1797915
(Requires a registration to read the full article. I am quoting parts of it below.
Shareholders in insolvent hydrogen truckmaker Hyzon finally approve company’s dissolution: Around 56% of stockholders voted to transfer the firm’s assets to its creditors and end its existence as a legal entity
...
The special meeting had already been postponed on two previous occasions in February.
In the meantime, Hyzon was de-listed from the Nasdaq stock exchange, and the board pressed ahead with plans to de-register Hyzon company as a public company.
At its last set of financial results, released in November 2024, Hyzon revealed it had registered net losses of $126.4m in the first nine months of this year, against only $10.4m in sales. And in the third quarter, sales amounted to only $134,000, with net losses for the quarter of $41.3m.
The company also admitted that at the end of September 2024 it only had $30.4m in unrestricted cash and cash equivalents, and $4.1m in restricted cash, with accumulated debt of $369m.
Statistics: Posted by Vayutuvan — 28 Mar 2025 06:15