Hyzon, a U.S.-based manufacturer and global supplier of hydrogen fuel cell systems, has announced the decision to halt its operations in the Netherlands and Australia. The company cited challenging market conditions in Europe and Australia, including reduced government support for fuel cell-powered transportation. Hyzon will focus on the North American market to accelerate the hydrogen transition and adoption of zero-emission technology. The CEO expressed gratitude to the European and Australian teams and emphasized the need to concentrate efforts on the North American market. The company expects to incur around $17 million in charges related to the exit activities, with a significant portion in cash. Despite the exit, Hyzon plans to maintain the potential to return to the European and Australian markets as a fuel cell system supplier. In addition to the operational changes, Hyzon aims to secure capital through strategic efforts and explore various alternatives, including potential divestitures and cost reductions. The company is evaluating the possibility of pursuing bankruptcy protection if financing efforts or strategic alternatives do not succeed. However, Hyzon remains committed to advancing its first-to-market, zero-emission hydrogen fuel cell technology for North American Class 8 and refuse truck platforms. The company will feature these technologies in large-fleet trial programs across the United States and Canada, starting in the upcoming summer. Moreover, Hyzon continues to optimize its operations in China to drive further advancements in hydrogen fuel cell technology for decarbonizing demanding industries.