The company assembled and supplied hydrogen fuel cell-powered commercial vehicles and built a clean hydrogen supply ecosystem with partners from feedstocks through production, dispensing and financing. Its single stack 200kW fuel cell system was engineered to be 30% lower in weight and volume and estimated to be 25% lower in total fuel cell system cost compared to two of its 110kW fuel cell systems combined.
Cyborg Score Rationale
The company faced material headwinds in scaling its hydrogen fuel cell technology, governance concerns including questionable financial transparency and delayed filings that eroded investor confidence and heightened regulatory scrutiny risk. The company ultimately ceased operations.
Top Insights
Company ceased operations in December 2024 and began dissolution
Company struggled with scaling hydrogen fuel cell technology and establishing competitive foothold against well-capitalized competitors
Trial 200kW fuel cell trucks completed full-day operations matching diesel trucks, with some averaging over six miles per gallon equivalent versus four mpg for diesel
Governance concerns including questionable financial transparency and delayed filings raised investor confidence issues
Named Competitors
Nikola — Hydrogen fuel cell and battery electric heavy-duty trucks
Recent Developments
(December 2024) Company ceased operations and began dissolution process
(August 2024) Q2 2024 results showed focus on Class 8 fleet trials and refuse market partnerships
(March 2024) Launched 200kW single-stack fuel cell system in Prime Mover heavy-duty truck in Australia
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