PRESS RELEASE: Billerica, Massachusetts, December 12, 2018 — Nuvera Fuel Cells, LLC, a provider of fuel cell power solutions for motive applications, has signed a cooperation agreement with the Hangzhou district government of Fuyang, in Zhejiang province, China to enable the local manufacture of Nuvera® fuel cell stacks beginning in 2019. In addition to incentives offered by the district government, the agreement includes an investment by Nuvera to establish a production facility in Fuyang.
Fuyang has created a favorable environment for foreign investment and talent recruiting. The local production of stacks enables Nuvera to deliver fuel cell systems more quickly to its partners in China. The fuel cells will power zero-emissions heavy-duty vehicles (HDVs) such as delivery vans and transit buses. The agreement between Nuvera and the Fuyang government underscores Nuvera’s emergence as an acknowledged leader in the fuel cell industry at the global level.
Across the entire vehicle market in China, HDVs comprise approximately 10 percent of the on-road vehicle fleet, but account for about 50 percent of fuel consumption. To reduce harmful vehicle emissions, the Chinese government is strongly committed to fostering the emergence of a domestic “New Energy Vehicle” market through investment in advanced propulsion technologies and production plants. It has targeted the reduction of HDV fuel consumption by 18-29 percent by 2021, depending on the vehicle segment.
“Nuvera is proud to partner with the Fuyang government to bring robust clean transportation solutions to China,” said Jon Taylor, President of Nuvera. “Establishing our manufacturing capabilities in Zhejiang will enable us to take advantage of fast-growing market opportunities in China and in other countries in the region.”
Nuvera, a wholly-owned subsidiary of Hyster-Yale Group, Inc., has more than two decades of motive fuel cell power experience, with tens of thousands of kilometers traveled in both on- and off-road applications. Its unique patented technology portfolio provides vehicle OEMs with fuel cells that exhibit exceptional durability and efficiency. Nuvera® fuel cell stacks have demonstrated greater power density than competing providers.
ABOUT NUVERA FUEL CELLS, LLC
Nuvera Fuel Cells, LLC is a manufacturer of heavy-duty, zero-emissions engines for mobility applications. With facilities located in the U.S. and Europe, Nuvera provides clean, safe, and efficient products designed to meet the rigorous needs of industrial vehicles and other transportation markets. For more information, visit www.nuvera.com.
Nuvera is a subsidiary of Hyster-Yale Group, Inc., which designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Hyster-Yale Group is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 7,700 people worldwide.