Things are happening on the analyst and investor front: BlackRock has raised its position in Hyzon Motors. Over 100 institutional investors are already involved. The largest of these is the Saudi Arabian state fund PIF, which holds over 8 million shares. Billionaire Izzy Englander named Hyzon as one of his top three picks and acquired 1.36 million shares.
Hyzon Motors, a manufacturer of hydrogen-powered commercial vehicles founded in Singapore (IPO via special-purpose acquisition company, SPAC, in New York), saw its the share price crash after a hedge fund named Blue Orca (a short seller?) leveled various accusations, including that an order for 20 Hyzon trucks did not come from the named customer, Hiringa Energy, but from someone completely different. Moreover, it also prompted questions about an agreement (memorandum of understanding) concerning 400 trucks for a Chinese customer. Law firms simultaneously added a string of class action lawsuits whose aim and purpose is unclear to me, though. Did someone want to initiate a lower IPO price or make stock prices tumble by short selling?
A shell company has helped Hyzon Motors make its stock exchange début: SPAC (special purpose acquisition company). The current value of the company is approximately US$ 1.7 billion, based on the total number of shares. Hyzon builds trucks that run on hydrogen. The US start-up sees itself as technologically quite advanced, after all, the know-how acquired within the last twenty years by Horizon Fuel Cell Technologies in fuel cell research has now been successfully transferred to the public limited company, which has only existed since 2020.