Hyzon, a U.S.-based manufacturer of high-performance hydrogen fuel cell systems, has announced a strategic shift to focus on North America and the adoption of fuel cell technology. The company has decided to halt its operations in the Netherlands and Australia due to diminishing government support for fuel cell-powered transportation in these regions. This move comes after completing an assessment of challenging market conditions in Europe and Australia. Hyzon plans to maintain the potential to return to the European and Australian markets as a fuel cell system supplier to OEMs. The company expressed gratitude towards its European and Australian teams for their efforts in advancing the hydrogen transition. As part of the planned exit activities, Hyzon expects to incur charges of approximately $17 million, with components including non-cash inventory write-downs, employee-related costs, and other exit-related expenses. The company aims to focus its efforts on the North American market and oversee large fleet trial programs scheduled for the summer of 2024. While pursuing capital through strategic alternatives and exploring potential divestiture options, Hyzon also applied to transfer its Common Stock listing to The Nasdaq Capital Market. Despite the market exit, Hyzon reaffirms its commitment to developing its first-to-market, zero-emission single stack 200kW hydrogen fuel cell technology for North American Class 8 and refuse truck platforms. The company is set to feature these platforms in significant large-fleet trial programs across the United States and Canada. Hyzon continues to optimize its operations in China while evaluating various strategic alternatives to ensure its financial stability and technological advancement.