Hyperdrive
Fuel-Cell Truck Startup Hyzon Agrees to Merge With Decarbonization Plus SPAC
- Deal set to value combined company at more than $2 billion
- New York-based Hyzon counts Total among its investors
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Hyzon Motors Inc., a fuel cell truck startup, has agreed to go public via a merger with Decarbonization Plus Acquisition Corp., according to people with knowledge of the matter.
The special purpose acquisition company has held discussions about raising new equity to support the transaction that values the combined entity at more than $2 billion, some of the people said, requesting anonymity because the talks are private. A deal could be announced within the next week.