Hyzon Motors Announces Business Combination with Decarbonization Plus Acquisition Corporation

Vinson & Elkins advised Decarbonization Plus Acquisition Corporation, a blank check company sponsored by an affiliate of Riverstone Holdings LLC, in its entry into a definitive agreement with Hyzon Motors Inc. (“Hyzon”), the industry-leading global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles, for a business combination that would result in Hyzon becoming a publicly listed company. The transaction is anticipated to provide gross proceeds of up to approximately $626 million to the company, including a $400 million fully committed common stock PIPE at $10 per share, anchored by existing and new investors.