Hyzon Motors: We're No Longer "Pre-Revenue"

Electric heavy-truck maker Hyzon Motors (NASDAQ: HYZN) said it has begun shipping its fuel-cell-powered heavy trucks to customers, a significant milestone it achieved ahead of some better-known rival start-ups.

Hyzon on Wednesday morning reported a net loss of $9.4 million in the second quarter, or $0.10 per share, versus a slight loss in the second quarter of 2020. Hyzon had no revenue in the quarter, but it made strong progress on its go-to-market plan -- enough progress that the second quarter will almost certainly be its last as a "pre-revenue" company.

Hyzon, based in Rochester, New York, is a spinoff of Singapore-based Horizon Fuel Cell Technologies, which has been developing hydrogen fuel cells for over 15 years. The company has a factory in the Netherlands that has begun small-scale manufacturing, another in Chicago that will be operational soon, and a third plant under construction in Rochester that will be up and running by mid-2022.

Source Fool.com