Hydrogen fuel cell and vehicle start up, Hyzon Motors has announced its done a deal to purchase a European electric truck maker, revealing it has signed a definitive agreement to acquire Orten Electric Trucks GmbH, German manufacturer of truck and trailer bodies for the beverage industry, with the transaction is expected to close in the fourth quarter of this year (2022).
Hyzon said that the acquisition brings three fully-operational production facilities and a team of more than 80 employees under the Hyzon umbrella.
The company said that Orten’s employees are experienced in electrification, retrofitting, and bodybuilding, which are all critical elements of Hyzon’s FCEV build process. In addition, Orten management has extensive, long-standing customer relationships across Germany Hyzon claimed.
Complementary product lines between Hyzon and Orten, in combination with Orten’s body and powertrain kits, provide a comprehensive solution for customers transitioning their fleets to zero emissions, Hyzon said in its statement.
Vehicles up to 26 tons can be transitioned to Orten’s existing battery electric vehicle offering, while the operational requirements of medium- and heavy-duty vehicles can be covered by Hyzon’s FCEVs.
Germany is expected to be a major global market for zero-emission commercial vehicles in the coming years.
The European Union recently announced a total ban on sales of combustion engine cars from 2035, and Germany offers various incentives to transition heavy vehicles off diesel, including some that provide subsidies for up to 80 per cent of the additional investment costs of going electric, compared to replacing vehicles with diesel equivalents, and even greater levels of subsidy for some public fleets.
“We are proud to grow our team and our reach through such an esteemed and innovative provider of solutions in German logistics,” said Craig Knight, Hyzon Motors CEO.
“We look forward to working with the Orten team to accelerate Germany’s move to zero emissions through hydrogen fuel cell technology, and to deepen the customer relationships Orten has in the beverage industry to include the potential of Hyzon FCEVs,”
“Looking back on a history of nearly 100 years of bringing innovative solutions to our commercial and municipal customers, we are happy and proud to join forces with Hyzon to build a better future,” said Orten’s long term owner and CEO, Robert Orten.
“Being a first mover in the field of battery electric trucks, we now have the opportunity to scale up our proprietary electrification and body building know-how,” Orten said.