According to The Australian Financial Review, Hyzon Motors, a Nasdaq-listed producer of hydrogen-powered commercial vehicles, will build a green hydrogen refuelling depot in Victoria as it seeks to demonstrate the viability of the zero emission vehicles.
Hyzon said in January it will spend more than $50 million to expand production in Australia as it looks to position itself to profit from rising interest in hydrogen-powered trucks and buses.
Hydrogen power is widely seen as being suited to heavier vehicles as the technology has a longer range than battery types, but the development of the industry has been curtailed by high costs and a lack of infrastructure, which has stunted market confidence to spend millions of dollars in ordering hydrogen trucks.
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