Hyzon Motors Inc. (NASDAQ:HYZN) revealed a groundbreaking collaboration on Tuesday, forging an alliance with privately-held New Way Trucks to conceptualize a fuel cell powered refuse vehicle designed for the North American market.

Embarking on the advanced stages of truck development, Hyzon (HYZN) and New Way are set to bring the initial base FCEV prototype to life, marking the inaugural phase of refuse collection equipment integration. While Hyzon (HYZN) undertakes the onus of supplying and integrating its advanced fuel cell technology and integrated powertrain, New Way assumes responsibility for delivering and integrating the prototype’s Sidewinder XTR automated side-load refuse body, thereby synergizing the expertise of both entities to engineer a sustainable refuse collection solution.

The development process is poised to harness Hyzon’s (HYZN) real-world experience in developing, assembling, and deploying a hydrogen fuel cell refuse truck, a project initiated in 2023 in Australia.

Underscoring the magnitude of the task at hand, Hyzon (HYZN) estimates that there are roughly 120,000 operational refuse trucks across North America, collectively consuming over 953 million gallons of diesel fuel annually. The incorporation of FCEVs into refuse collection fleets in North America presents an unprecedented opportunity to catalyze the decarbonization of the industry and mitigate the cacophony of noise pollution emanating from diesel trucks.

Emphasizing the pivotal role of zero emission hydrogen fuel cell technology in curtailing emissions from challenging-to-mitigate sectors, including refuse collection, Hyzon’s Chief Executive Officer, Parker Meeks, asserted, “Hyzon is primed to commence this collaboration with New Way as we endeavor to materialize the mutual vision of decarbonizing the refuse industry.”

Despite the monumental ambitions of the collaboration, shares of Hyzon Motors (HYZN) have witnessed a 23% decline on a year-to-date basis and a staggering 68% slump over the past 52 weeks.