Hyzon Motors (HYZN) 10-Q14 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity Registrant Name	Hyzon Motors Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39632
Entity Tax Identification Number	82-2726724
Entity Address, Address Line One	599 South Schmidt Road
Entity Address, City or Town	Bolingbrook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60440
City Area Code	585
Local Phone Number	484-9337
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,591,789
Entity Central Index Key	0001716583
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock Class A
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	HYZN
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $575.00 per share
Trading Symbol	HYZNW

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 30,428	$ 112,280
Accounts receivable	86	498
Unbilled receivable	38	1,599
Inventory	6,036	28,811
Prepaid expenses and other current assets	5,833	9,335
Total current assets	42,421	152,523
Property, plant, and equipment, net	3,523	18,569
Right-of-use assets	1,566	4,741
Equity method investments	0	8,382
Investments in equity securities	0	763
Other assets	4,179	6,157
Total Assets	51,689	191,135
Current liabilities
Accounts payable	2,043	1,479
Accrued liabilities	20,028	30,116
Related party payables	791	265
Contract liabilities	469	8,872
Current portion of lease liabilities	830	1,821
Total current liabilities	24,161	42,553
Long term liabilities
Lease liabilities	871	5,733
Private placement warrant liability	160	160
Earnout liability	5	1,725
July 2024 warrant liability	4,833	0
Accrued SEC settlement	8,270	8,000
Other liabilities	1,210	2,964
Total Liabilities	39,510	61,135
Commitments and contingencies (Note 13)
Stockholders’ Equity
Common stock, $0.0001 par value; 20,000,000 shares authorized, 5,510,056 and 4,901,630 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively.	1	0
Treasury stock, at cost; 75,392 shares as of September 30, 2024 and December 31, 2023, respectively.	(6,446)	(6,446)
Additional paid-in capital	389,019	380,286
Accumulated deficit	(368,974)	(242,640)
Accumulated other comprehensive loss	(651)	(514)
Total Hyzon Motors Inc. stockholders’ equity	12,949	130,686
Noncontrolling interest	(770)	(686)
Total Stockholders’ Equity	12,179	130,000
Total Liabilities and Stockholders’ Equity	$ 51,689	$ 191,135

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	5,510,056	4,901,630
Common stock, shares outstanding (in shares)	5,510,056	4,901,630
Treasury stock (in shares)	75,392	75,392

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue	$ 134	$ 0	$ 10,430	$ 0
Operating expense:
Cost of revenue	301	3,286	26,532	6,534
Research and development	8,074	10,857	28,720	32,794
Selling, general, and administrative	29,677	21,044	76,721	100,999
Restructuring and related charges	1,604	4,885	4,768	4,885
Gain on lease termination	(2,096)	0	(2,096)	0
Total operating expenses	37,560	40,072	134,645	145,212
Loss from operations	(37,426)	(40,072)	(124,215)	(145,212)
Other income (expense):
Change in fair value of earnout liability	1,316	(1,307)	1,720	6,029
Loss on issuance of July 2024 warrants	(567)	0	(567)	0
Impairment of investments	(9,145)	0	(9,145)	0
Gain on deconsolidation of subsidiary	2,559	0	2,559	0
Gain on disposal of auctioned assets	1,721	0	1,721	0
Foreign currency exchange gain (loss) and other expense, net	(534)	(3,877)	(1,217)	(2,447)
Investment income and interest income, net	524	1,441	2,500	6,501
Total other income (expense)	(3,894)	(3,983)	(2,197)	10,644
Loss before income taxes	(41,320)	(44,055)	(126,412)	(134,568)
Income tax expense	0	0	0	0
Net loss	(41,320)	(44,055)	(126,412)	(134,568)
Less: Net loss attributable to noncontrolling interest	(1)	(1)	(78)	(18)
Net loss attributable to Hyzon	(41,319)	(44,054)	(126,334)	(134,550)
Comprehensive loss:
Net loss	(41,320)	(44,055)	(126,412)	(134,568)
Foreign currency translation adjustment	(315)	2,721	(143)	986
Net change in unrealized gain (loss) on short-term investments	0	286	0	(702)
Comprehensive loss	(41,635)	(41,048)	(126,555)	(134,284)
Less: Comprehensive income (loss) attributable to noncontrolling interest	(23)	5	(84)	10
Comprehensive loss attributable to Hyzon	$ (41,612)	$ (41,053)	$ (126,471)	$ (134,294)
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ (7.74)	$ (8.99)	$ (24.42)	$ (27.49)
Diluted (dollars per share)	$ (7.74)	$ (8.99)	$ (24.42)	$ (27.49)
Weighted average common shares outstanding:
Basic (in shares)	5,337,000	4,898,000	5,173,000	4,894,000
Diluted (in shares)	5,337,000	4,898,000	5,173,000	4,894,000
Private Placement
Other income (expense):
Change in fair value of private placement warrant liability and July 2024 warrant liability	$ 0	$ (240)	$ 0	$ 561
July 2024 warrant liability
Other income (expense):
Change in fair value of private placement warrant liability and July 2024 warrant liability	$ 232	$ 0	$ 232	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	At-the-market Program	Securities Purchase Agreement July 2024	Common Class A	Total Hyzon Motors Inc. Stockholders’ Equity	Total Hyzon Motors Inc. Stockholders’ Equity At-the-market Program	Common Stock Class A Common Class A	Common Stock Class A Common Class A At-the-market Program	Common Stock Class A Common Class A Securities Purchase Agreement July 2024	Treasury Stock	Additional Paid-in Capital	Additional Paid-in Capital At-the-market Program	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2022							4,890,184
Beginning Balance at Dec. 31, 2022	$ 307,059				$ 307,770		$ 0			$ (6,446)	$ 372,967		$ (58,598)	$ (153)	$ (711)
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2022										75,392
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,987				2,987						2,987
Vesting of RSUs (in shares)							3,978
Net share settlement of equity awards	(111)				(111)						(111)
Available-for-sale short-term investments:
Unrealized net gain on short-term investments	616				616									616
Reclassification to net loss	(1,604)				(1,604)									(1,604)
Net loss attributable to Hyzon	(90,496)				(90,496)								(90,496)
Net loss attributable to noncontrolling interest	(17)														(17)
Foreign currency translation income (loss)	(1,735)				(1,757)									(1,757)	22
Ending Balance (in shares) at Jun. 30, 2023							4,894,162
Ending Balance at Jun. 30, 2023	216,699				217,405		$ 0			$ (6,446)	375,843		(149,094)	(2,898)	(706)
Treasury Stock, Ending Balance (in shares) at Jun. 30, 2023										75,392
Beginning Balance (in shares) at Dec. 31, 2022							4,890,184
Beginning Balance at Dec. 31, 2022	307,059				307,770		$ 0			$ (6,446)	372,967		(58,598)	(153)	(711)
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2022										75,392
Available-for-sale short-term investments:
Net loss attributable to Hyzon	(134,550)
Net loss attributable to noncontrolling interest	(18)
Ending Balance (in shares) at Sep. 30, 2023							4,899,970
Ending Balance at Sep. 30, 2023	177,784				178,485		$ 0			$ (6,446)	377,976		(193,148)	103	(701)
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2023										75,392
Beginning Balance (in shares) at Jun. 30, 2023							4,894,162
Beginning Balance at Jun. 30, 2023	216,699				217,405		$ 0			$ (6,446)	375,843		(149,094)	(2,898)	(706)
Treasury Stock, Beginning Balance (in shares) at Jun. 30, 2023										75,392
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)							320
Exercise of stock options	18				18						18
Stock-based compensation	2,156				2,156						2,156
Vesting of RSUs (in shares)							5,488
Net share settlement of equity awards	(41)				(41)						(41)
Available-for-sale short-term investments:
Unrealized net gain on short-term investments	314				314									314
Reclassification to net loss	(28)				(28)									(28)
Net loss attributable to Hyzon	(44,054)				(44,054)								(44,054)
Net loss attributable to noncontrolling interest	(1)														(1)
Foreign currency translation income (loss)	2,721				2,715									2,715	6
Ending Balance (in shares) at Sep. 30, 2023							4,899,970
Ending Balance at Sep. 30, 2023	$ 177,784				178,485		$ 0			$ (6,446)	377,976		(193,148)	103	(701)
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2023										75,392
Beginning Balance (in shares) at Dec. 31, 2023	4,901,630			4,901,630			4,901,630
Beginning Balance at Dec. 31, 2023	$ 130,000				130,686		$ 0			$ (6,446)	380,286		(242,640)	(514)	(686)
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2023	75,392									75,392
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 7,638				7,638						7,638
Vesting of RSUs (in shares)							69,468
Net share settlement of equity awards	(889)				(889)						(889)
Available-for-sale short-term investments:
Net loss attributable to Hyzon	(85,015)				(85,015)								(85,015)
Net loss attributable to noncontrolling interest	(77)														(77)
Foreign currency translation income (loss)	172				156									156	16
Ending Balance (in shares) at Jun. 30, 2024							4,971,098
Ending Balance at Jun. 30, 2024	$ 51,829				52,576		$ 0			$ (6,446)	387,035		(327,655)	(358)	(747)
Treasury Stock, Ending Balance (in shares) at Jun. 30, 2024										75,392
Beginning Balance (in shares) at Dec. 31, 2023	4,901,630			4,901,630			4,901,630
Beginning Balance at Dec. 31, 2023	$ 130,000				130,686		$ 0			$ (6,446)	380,286		(242,640)	(514)	(686)
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2023	75,392									75,392
Available-for-sale short-term investments:
Net loss attributable to Hyzon	$ (126,334)
Net loss attributable to noncontrolling interest	$ (78)
Ending Balance (in shares) at Sep. 30, 2024	5,510,056			5,510,056			5,510,056
Ending Balance at Sep. 30, 2024	$ 12,179				12,949		$ 1			$ (6,446)	389,019		(368,974)	(651)	(770)
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2024	75,392									75,392
Beginning Balance (in shares) at Jun. 30, 2024							4,971,098
Beginning Balance at Jun. 30, 2024	$ 51,829				52,576		$ 0			$ (6,446)	387,035		(327,655)	(358)	(747)
Treasury Stock, Beginning Balance (in shares) at Jun. 30, 2024										75,392
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,140				2,140						2,140
Issuance of common stock (in shares)								57,500	450,000
Issuance of common stock		$ 139	$ 1			$ 139			$ 1			$ 139
Vesting of RSUs (in shares)							31,458
Net share settlement of equity awards	(295)				(295)						(295)
Available-for-sale short-term investments:
Net loss attributable to Hyzon	(41,319)				(41,319)								(41,319)
Net loss attributable to noncontrolling interest	(1)														(1)
Foreign currency translation income (loss)	$ (315)				(293)									(293)	(22)
Ending Balance (in shares) at Sep. 30, 2024	5,510,056			5,510,056			5,510,056
Ending Balance at Sep. 30, 2024	$ 12,179				$ 12,949		$ 1			$ (6,446)	$ 389,019		$ (368,974)	$ (651)	$ (770)
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2024	75,392									75,392

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net loss	$ (126,412)	$ (134,568)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,832	3,160
Stock-based compensation	9,778	5,143
Foreign currency transaction loss	390	2,087
Fair value adjustment of earnout liability	(1,720)	(6,029)
Loss on issuance of July 2024 warrants	567	0
Issuance costs, July 2024 warrants	680	0
Impairment and losses of investments	9,145	172
Inventory write-downs	18,468	4,781
Impairment of property and equipment	11,178	2,119
Gain on sales of property and equipment	147	0
Gain on lease termination	(2,096)	0
Gain on disposal of auctioned assets	(1,721)	0
Gain on deconsolidation of subsidiary, net of cash disposed	(4,292)	0
Accretion of discount on available-for-sale debt securities	0	(1,452)
Restructuring and related charges	1,272	4,885
Other	(34)	0
Changes in operating assets and liabilities:
Accounts receivable	281	(264)
Unbilled receivable	1,561	0
Inventory	2,247	(9,411)
Prepaid expenses and other current assets	2,460	4,087
Other assets	249	343
Accounts payable	445	(9,176)
Accrued liabilities	(6,686)	(2,763)
Related party payables, net	599	6,023
Contract liabilities	(7,005)	3,089
Other liabilities	(70)	16,263
Net cash used in operating activities	(87,969)	(112,072)
Cash Flows from Investing Activities:
Purchases of property and equipment	(2,858)	(5,951)
Proceeds from sales of property and equipment and other auctioned assets	4,959	0
Purchases of short-term investments	(30,000)	(16,594)
Proceeds from maturities of short-term investments	30,000	134,905
Proceeds from sale of short-term investments	0	50,021
Net cash provided by investing activities	2,101	162,381
Cash Flows from Financing Activities:
Exercise of stock options	0	18
Payment of finance lease liability	0	(237)
Proceeds from issuance of common stock and warrants, net of issuance cost	3,820	0
Net share settlement of equity awards	(1,184)	(152)
Net cash provided by (used in) financing activities	2,636	(371)
Effect of exchange rate changes on cash	(345)	(377)
Net change in cash, cash equivalents, and restricted cash	(83,577)	49,561
Cash, cash equivalents, and restricted cash — Beginning	118,101	66,790
Cash, cash equivalents, and restricted cash — Ending	34,524	116,351
Private Placement
Adjustments to reconcile net loss to net cash used in operating activities:
Fair value adjustment of private placement warrant liability	0	(561)
July 2024 warrant liability
Adjustments to reconcile net loss to net cash used in operating activities:
Fair value adjustment of private placement warrant liability	$ (232)	$ 0

Nature of Business and Basis of

Nature of Business and Basis of Presentation	9 Months Ended
Nature of Business and Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	Nature of Business and Basis of Presentation Description of Business Hyzon Motors Inc. (“Hyzon” or the “Company”), headquartered in Bolingbrook, Illinois, is a hydrogen fuel cell system manufacturer and technology developer that is commercializing its proprietary heavy-duty (“HD”) fuel cell technology through assembling and upfitting HD hydrogen fuel cell electric trucks (“FCETs”) in the United States. In addition, Hyzon seeks to build and foster a clean hydrogen supply ecosystem with leading partners from feedstocks through production and dispensing. Strategic Realignment In June 2024, the Company announced that it had started realigning its strategic priorities to focus on the Company’s North American Class 8 and refuse truck markets and as a part of these efforts, the Company announced in July 2024 that it would wind down its operations in the Netherlands and Australia. Further in July 2024, the Company established a retention program that extends to a limited number of employees aligned with the new strategic priorities. See Note 4. Restructuring and Related Charges. Basis of Presentation The accompanying unaudited interim consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the requirements and rules of the Securities and Exchange Commission (“SEC”). Any reference in these notes to applicable guidance refers to U.S. GAAP as found in U.S. Accounting Standards Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB"). Certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, the unaudited interim consolidated financial statements should be read in connection with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2023. The Company’s unaudited interim consolidated financial statements include the accounts and operations of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation for the periods presented. Results of operations reported for interim periods presented are not necessarily indicative of results for the entire year or any other periods. Liquidity and Going Concern These unaudited interim consolidated financial statements have been prepared by management in accordance with U.S. GAAP and this basis assumes that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. These unaudited interim consolidated financial statements do not include any adjustments that may result from the outcome of the uncertainties described below. In accordance with ASC 205-40, Presentation of Financial Statements - Going Concern (“ASC 205-40”), the Company evaluates whether there are certain conditions and events, considered in the aggregate, which raise substantial doubt about the Company’s ability to continue as a going concern. In accordance with ASC 205-40, the Company’s analysis can only include the potential mitigating impact of the plans that have not been fully implemented as of the issuance date of these unaudited interim consolidated financial statements if (a) it is probable that these plans will be effectively implemented within one year after the date that the financial statements are issued, and (b) it is probable that the plans, when implemented, will alleviate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Company has incurred net losses since inception. Net cash used in operating activities was $88.0 million and $112.1 million for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, the Company has $30.4 million in unrestricted cash and cash equivalents, and $4.1 million in restricted cash. The Company incurred net losses of $41.3 million and $44.1 million for the three months ended September 30, 2024 and 2023, respectively. The Company incurred net losses of $126.4 million and $134.6 million for the nine months ended September 30, 2024 and 2023, respectively. Accumulated deficit amounted to $369.0 million and $242.6 million as of September 30, 2024 and December 31, 2023, respectively. The Company has concluded that at the time of this filing, substantial doubt exists about its ability to continue as a going concern as the Company believes that its financial resources, existing cash resources, and additional sources of liquidity are insufficient to support planned operations beyond the next 12 months. We are also continuing to evaluate the need to pursue bankruptcy protection or other in-court relief if our financing efforts or other strategic alternatives are not successful. To reduce the cash used in operating activities, the Company implemented certain cost savings initiatives, including a restructuring plan in July 2023, as further discussed in our Annual Report filed on Form 10-K for the year ended December 31, 2023. Additionally, in June 2024, the Company announced that it had started realigning its strategic priorities to focus on the Company’s North American Class 8 and refuse truck markets and as a part of these efforts, the Company announced in July 2024 that it would wind down its operations in the Netherlands and Australia. While these plans are anticipated to reduce near term cash outflows when compared to prior periods, the Company’s continued existence is primarily dependent upon its ability to obtain additional financing. During the third quarter the Company raised $3.8 million net of fees and commissions under a registered direct offering and commenced an “at the market” equity offering program under which the Company has raised $4.8 million net of commissions through October 31, 2024 (see Note 15. Stockholders' Equity). The Company’s business will require significant additional funding to execute its long-term business plans notwithstanding its requirements for additional current funding. If the Company fails to raise additional funding in time or in a sufficient amount to meet its requirements, the Company may be required or compelled to pursue additional restructuring initiatives to preserve cash, working capital, and optionality, including pursuing bankruptcy protection or other in-court relief. The Company seeks to continue to improve its liquidity through a combination of equity and/or debt financing, and alliances or other partnership agreements with entities interested in our technologies. If the Company raises funds in the future by issuing equity securities, additional dilution to stockholders will occur and may be substantial. During the third quarter of 2024 the Company increased the number of shares of its authorized Class A common stock to 20,000,000, and at the time of this filing is seeking shareholder approval to increase the number of shares of its authorized Class A common stock to 120,000,000. Any equity securities issued may also provide for rights, preferences, or privileges senior to those of common stockholders. If the Company raises funds in the future by issuing debt securities, these debt securities could have rights, preferences, and privileges senior to those of common stockholders. The terms of any debt securities or borrowings could impose significant restrictions on the Company’s operations. The capital markets have experienced in the past, and may experience in the future, periods of uncertainty that could impact the availability and cost of equity and debt financing. In addition, federal fund rates set by the Federal Reserve, which serve as a benchmark for rates on borrowing, will continue to impact the cost of debt financing. There can be no assurance that any such financing can be realized by the Company, or if realized, what the terms thereof may be, or that any amount that the Company is able to raise will be adequate to support the Company’s ongoing operations, working capital requirements, and/or fuel cell technology advancement. If the Company cannot increase its authorized shares and / or cannot raise additional funds when needed or on acceptable terms, its financial condition, business prospects, and results of operations could be materially adversely affected, and we may be required to pursue bankruptcy protection or other in-court relief. In addition, the Company is subject to, and may become a party to, a variety of litigation, other claims, suits, indemnity demands, regulatory actions, and government investigations and inquiries in the ordinary course of business. The outcome of litigation and other legal proceedings, including the other claims described under Legal Proceedings in Note 13. Commitments and Contingencies, are inherently uncertain, and adverse judgments or settlements in some or all of these legal disputes may result in materially adverse monetary damages or injunctive relief against us, which may not be covered in full or in part by insurance. Reclassifications Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation in the unaudited interim consolidated financial statements and the accompanying notes. Reverse stock split On September 11, 2024 the Company effected a 1-for-50 reverse stock split

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2. Summary of Significant Accounting Policies, in the Company’s consolidated financial statements included in the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2023.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company did not recognize revenue for the three and nine months ended September 30, 2023. The following table shows disaggregated revenue from contracts with customers by region for the three and nine months ended September 30, 2024 (in thousands). Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 U.S. Australia China Total U.S. Australia China Total Revenue by region $ 134 $ — $ — $ 134 $ 901 $ 8,474 $ 1,056 $ 10,430 Revenue represents product sales, leasing and other sources. Product sales are derived from the sales of the Company’s products and services including fuel cell systems, FCETs, parts, product support, and other related services. The majority of the product sales recognized for the three and nine months ended September 30, 2024 relate to vehicle deployments that occurred in prior periods. Leasing revenue is generated from customer contracts when the end customer has a significant economic incentive to exercise the trade-in or buyback option at contract inception. As of September 30, 2024, the Company had deferred $1.0 million of upfront lease related payments, $0.4 million of which was recorded in Contract liabilities and $0.6 million of which was recorded in Other liabilities in the unaudited interim Consolidated Balance Sheets. The upfront lease related payments will be recognized on a straight-line basis over the individual lease term. In 2022, the Company delivered a total of 82 FCETs to two customers in China. In consideration of the customers’ limited operating history and extended payment terms in their contracts, the Company determined the collectability criterion was not met with respect to contract existence under ASC 606 for these customers, and therefore, an alternative method of revenue recognition had been applied to each arrangement. In 2024, the Company entered into supplemental agreements with those Chinese customers. The supplemental agreements resulted in the payment of $1.1 million to the Company and the termination of the standard warranty obligations in the contracts. The $1.1 million was received by the Company in February 2024. Contract Balances Contract liabilities relate to the advance consideration invoiced or received from customers for products and services prior to satisfying a performance obligation or in excess of amounts allocated to a previously satisfied performance obligation.

Restructuring and Related Charg

Restructuring and Related Charges	9 Months Ended
Restructuring and Related Charges	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Charges	Restructuring and Related Charges In July 2023, the Company’s board of directors approved a restructuring plan (the “2023 Restructuring Program”) to improve operational effectiveness and cost reduction, including with respect to its workforce. In connection with the 2023 Restructuring Program the Company evaluated long-lived assets for impairment at Hyzon Motors Europe B.V. (“Hyzon Europe”). The Company compared the carrying amount of the asset group comprising the long-lived assets to the estimated future undiscounted cash flows expected to be generated by the asset group. The estimated aggregate undiscounted cash flows were less than the carrying amount of the asset group. An impairment charge of $4.6 million ($2.8 million of right-of-use asset and $1.8 million of property, plant and equipment, net) was recorded during the third quarter of 2023, which represents the amount by which the carrying amount of the asset group exceeds the fair value of the assets, based on the expected discounted future cash flows attributable to those assets. The Company also incurred employee-related charges of $0.3 million including one-time severance payments as well as cash bonus and accelerated stock-based compensation. In June 2024, the Company announced that it had started realigning its strategic priorities to focus on the Company’s North American Class 8 and refuse truck markets, and as a part of these efforts the Company announced in July 2024 that it would wind down its operations in the Netherlands and Australia (collectively, the “Strategic Realignment”). In connection with the Strategic Realignment during the second and third quarters of 2024, the Company incurred restructuring and related charges consisting of (a) employee-related charges including severance, retention and stock-based compensation, (b) asset-related charges including impairments of property plant and equipment and right-of-use asset, and (c) other exit related costs including contract termination costs. The employee-related charges arise from the on-going benefit arrangements in the Netherlands and Australia which require accrual when the related payments are probable. The impairment related charges arise from the determination that triggering events had occurred in the Netherlands and Australia, and that the Company’s long-lived assets at those locations should be written down to fair value, which was generally salvage value. Regarding the Strategic Realignment’s impact on the Netherlands operations, in July 2024, Hyzon Europe began negotiating directly with creditors in its effort to seek a consensual liquidation. As part of the consensual liquidation, during the third quarter of 2024 Hyzon Europe negotiated a cash-free settlement with its landlord and recognized a $2.1 million gain on the termination of the lease. Regarding the Strategic Realignment’s impact on the Australian business, on July 10, 2024, Hyzon Australia appointed an insolvency administrator which (a) eliminated the authority and power of the Company and its officers and managing directors to act on behalf of the Australian business and (b) gave the administrator control over the assets and liabilities of the Australian business. The administrator then developed and secured creditor approval for a deed of company administration (DOCA) to implement the entity’s liquidation process. The liquidation process has commenced and is continuing. In connection with the loss of control of the Australian business during the third quarter of 2024, the Company recognized a gain on deconsolidation of $2.6 million. In July 2024, in connection with the Strategic Realignment, the Company established a retention program that extends to a limited number of employees aligned with the new strategic priorities. Retention payments are being expensed over the respective service periods and the associated charges have been included in Restructuring and related charges. In the U.S., the Company entered into a purchase and sale agreement with Fulcrum Holdings LLC (the “Buyer”) to sell its Rochester, NY facility for $3.1 million. The sale closed and the Company moved its headquarters from Rochester, NY to Bolingbrook, IL in March 2024. Restructuring and related charges consisted of the following (in thousands): Three Months Ended September 30, 2024 Three Months Ended Nine Months Ended Nine Months Ended Asset-related $ — $ 4,602 $ 1,272 $ 4,602 Employee-related 1,604 283 3,427 283 Other Costs — — 69 — Total $ 1,604 $ 4,885 $ 4,768 $ 4,885

Inventory

Inventory	9 Months Ended
Inventory	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following (in thousands): September 30, December 31, Raw materials $ 3,751 $ 11,380 Work in process 2,285 9,918 Finished Goods — 7,513 Total inventory $ 6,036 $ 28,811

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
Prepaid Expenses and Other Current Assets	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, Deposit for fuel cell components (Note 16) $ 134 $ 2,927 Vehicle inventory deposits — 262 Production equipment deposits 118 623 Other prepaid expenses 1,456 1,333 Prepaid insurance 3,965 3,827 VAT receivable from government 160 363 Total prepaid expenses and other current assets $ 5,833 $ 9,335

Property, Plant, and Equipment,

Property, Plant, and Equipment, net	9 Months Ended
Property, Plant, and Equipment, net	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, net	Property, Plant, and Equipment, net Property, plant, and equipment, net consisted of the following (in thousands): September 30, December 31, Land and building $ — $ 2,823 Machinery and equipment 3,373 12,420 Software — 3,403 Leasehold improvements — 3,306 Construction in progress 150 2,652 Total Property, plant, and equipment 3,523 24,604 Less: Accumulated depreciation and amortization — (6,035) Property, plant and equipment, net $ 3,523 $ 18,569 Depreciation and amortization expense totaled $0.9 million and $2.8 million for the three and nine months ended September 30, 2024, respectively. Depreciation and amortization expense totaled $1.0 million and $3.2 million for the three and nine months ended September 30, 2023, respectively. The Company recognized impairment charges related to its property, plant and equipment as more fully discussed below. The Company recognized impairment charges of $11.1 million and $12.5 million during the three and nine months ended September 30, 2024, respectively, primarily related to property, plant and equipment impairment in the US. The Company recognized impairment charges of $1.8 million during the three and nine months ended September 30, 2023, respectively, related to restructuring in Hyzon Europe (see Note 4. Restructuring and Related Charges). Impairment of Long-lived Assets The sustained decline in the Company’s stock price and market capitalization during the third quarter of 2024, along with continued substantial doubt about the Company’s ability to continue as a going concern (as more fully discussed in Note 1. Nature of Business and Basis of Presentation) resulted in the determination that a triggering event had occurred during the third quarter of 2024 and that a recoverability test for long-lived assets was appropriate.The required step one recoverability test resulted in estimation uncertainty regarding the ability to achieve future enterprise level positive undiscounted cash flows. As such, the Company prepared a step two impairment test for its long-lived assets. The Company used market approach models to estimate the fair value of individual long-lived assets, comparing the fair values to the net book values, and calculating the impairment charge. The net book value of long-lived assets exceeded their respective fair values as of September 30, 2024 and therefore the Company recognized impairment charges related to its property, plant and equipment of $11.1 million during the three months ended September 30, 2024.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
Accrued Liabilities	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following (in thousands): September 30, December 31, Payroll and payroll related expenses $ 6,422 $ 5,261 Accrued professional fees 2,535 2,411 Accrued product warranty costs 93 840 Accrued contract manufacturer costs — 1,424 Accrued contract termination costs (Note 13) 558 470 Accrued SEC settlement (Note 13) 8,787 17,000 Other accrued expenses 1,633 2,710 Accrued liabilities $ 20,028 $ 30,116

Investments in Equity Securitie

Investments in Equity Securities	9 Months Ended
Investments in Equity Securities	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments in Equity Securities	Investments in Equity Securities The Company owns common shares, participation rights, and options to purchase additional common shares in certain private companies. On a non-recurring basis, the carrying value is adjusted for changes resulting from observable price changes in orderly transactions for identical or similar investments in the same issuer or for an impairment. The investment in equity securities in the Consolidated Balance Sheets as of December 31, 2023 represents the equity investment in common shares and options of Raven SR, Inc. (“Raven”). In accordance with ASC 321, Investments - Equity Securities (“ASC 321”), the investment in Raven does not have a readily determinable fair value and is measured at cost minus impairment, which requires the Company to evaluate on an ongoing basis whether the investment has been impaired based on qualitative factors. As more fully discussed in Note 10. Equity Method Investments, the Company determined that the investment in Raven was fully impaired as of September 30, 2024 due to the investee’s financial condition, liquidity position, and access to capital resources. Accordingly, the Company recognized a $0.8 million impairment loss on equity securities within Impairment of investments in the unaudited interim Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024. The following table summarizes the total carrying value of held securities, measured as the total initial cost plus cumulative net gain (loss) (in thousands): September 30, December 31, Total initial cost basis $ 4,948 $ 4,948 Adjustments: Cumulative unrealized gain 12,530 12,530 Cumulative impairment (17,478) (16,715) Carrying amount, end of period $ — $ 763

Equity Method Investments

Equity Method Investments	9 Months Ended
Equity Method Investments	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments Raven SR S1 LLC In December 2022, the Company, via its subsidiary, Hyzon Zero Carbon, Inc. (“HZCI”), entered into an agreement with Chevron and Raven, to invest in Raven SR S1 LLC (“Raven S1”). Raven S1 intends to develop, construct, operate and maintain a solid waste-to hydrogen generation production facility located in Richmond, California (the “Richmond Project”). The Company invested $8.5 million at closing, and the remaining $1.5 million is scheduled to be paid upon when construction of the facility is at least 50% complete and pre-commissioning activities have been initiated. The total $10.0 million investment represents approximately 20% ownership of Raven S1. The Company’s equity method investment in Raven S1 does not have a readily determinable fair value. Such investments are evaluated for impairment when events and conditions occur that may have a significant adverse effect on the investment's fair value. Although Raven and Raven S1 continue to seek additional sources of capital needed to fund their business activities, the Richmond Project has lacked sufficient funding for more than one year. The prospects of successfully attracting sufficient capital or obtaining the required permits and insurance to complete the Richmond Project remains uncertain. Based on these factors, along with uncertainty about Hyzon’s ability to realize any value on disposition of the investment or to hold its investment for a period of time sufficient to allow for the completion of the Richmond Project and therefore any recovery of its investment , the Company determined that the investment was fully impaired and that such impairment was other than temporary as of September 30, 2024. Accordingly, the Company recognized an $8.4 million impairment on its equity method investment within Impairment of investments in the unaudited interim Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded no income tax expense d uring the three and nine months ended September 30, 2024 and 2023 , respectively. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company assesses all available evidence, both positive and negative, to determine the amount of any required valuation allowance within each taxing jurisdiction. The Company continues to be in a net operating loss and net deferred tax asset position, before valuation allowances. Full valuation allowances have been established for the Company’s operations in all jurisdictions. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2024 and December 31, 2023. Th

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company follows the guidance in ASC 820, Fair Value Measurement . For assets and liabilities measured at fair value on a recurring and nonrecurring basis, a three-level hierarchy of measurements based upon observable and unobservable inputs is used to arrive at fair value. The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. As of September 30, 2024, and December 31, 2023, the carrying amounts of accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued liabilities approximate estimated fair value due to their relatively short maturities. The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): As of September 30, 2024 Level 1 Level 2 Level 3 Total Liabilities: July 2024 warrant liability $ — $ — $ 4,833 $ 4,833 Warrant liability – Private Placement Warrants $ — $ 160 $ — $ 160 Earnout shares liability $ — $ — $ 5 $ 5 As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: $ 75,312 $ — $ — $ 75,312 Liabilities: Warrant liability – Private Placement Warrants $ — $ 160 $ — $ 160 Earnout shares liability $ — $ — $ 1,725 $ 1,725 Cash Equivalents The Company’s cash equivalents consist of short-term, highly liquid financial instruments that are readily convertible to cash with original maturities of three months or less. As of September 30, 2024, the Company did not have any cash equivalents. As of December 31, 2023, the Company had $75.3 million invested in certificates of deposit. The Company classifies its investments in certificates of deposit as Level 1. July 2024 Warrants As more fully described in Note 15. Stockholders' Equity, the Company issued warrants in connection with a registered direct offering. In accordance with ASC 815, the July 2024 Warrants (as defined herein) do not meet the criteria for equity classification and must be recorded as liabilities. The July 2024 Warrants meet the definition of a derivative as contemplated in ASC 815, and accordingly the warrants are measured at fair value at inception and remeasured at each reporting date. The July 2024 Warrants include repricing rights which necessitates using a Monte-Carlo simulation model to measure fair value. The inputs into the Monte-Carlo pricing model included significant unobservable inputs. The following table provides quantitative information regarding Level 3 fair value measurement inputs as of September 30, 2024 and July 22, 2024 (the issuance date): September 30, 2024 July 22, 2024 Stock price $ 2.43 $ 8.00 Exercise price (strike price) $ 2.85 $ 15.00 Risk-free interest rate 3.6 % 4.2 % Volatility 108.8 % 112.8 % Remaining term (in years) 4.8 5.0 The Company recognized a $0.6 million loss on issuance of the July 2024 Warrants, due to the Company’s limited financing alternatives which are more fully described in the Liquidity and Going Concern matters described in Note 1. Nature of Business and Basis of Presentation. The loss was measured as follows: July 2024 Warrants Gross proceeds at issuance $ 4,498 Fair value at issuance 5,065 Loss on issuance $ (567) The following table presents that changes in the liability for July 2024 Warrants from the issuance date to September 30, 2024. July 2024 Warrants Balance as of July 22, 2024 $ 5,065 Change in estimated fair value (232) Balance as of September 30, 2024 $ 4,833 Earnout to Common Stockholders The fair value of the earnout shares was estimated by utilizing a Monte-Carlo simulation model. The inputs into the Monte-Carlo pricing model included significant unobservable inputs. The following table provides quantitative information regarding Level 3 fair value measurement inputs: September 30, December 31, Stock price $ 2.43 $ 44.75 Risk-free interest rate 3.7 % 4.1 % Volatility 131.2 % 91.0 % Remaining term (in years) 1.79 2.54 The following table presents the changes in the liabilities for Private Placement Warrants and Earnout for the nine months ended September 30, 2024 (in thousands): Private Placement Warrants Earnout Balance as of December 31, 2023 $ 160 $ 1,725 Change in estimated fair value — (1,720) Balance as of September 30, 2024 $ 160 $ 5 The Company performs routine procedures such as comparing prices obtained from independent sources to ensure that appropriate fair values are recorded.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company is subject to, and may become a party to, a variety of litigation, other claims, suits, indemnity demands, regulatory actions, and government investigations and inquiries in the ordinary course of business. The assessment as to whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable, often involves significant judgment about future events, and the outcome of litigation is inherently uncertain. The Company accrues for matters when we believe that losses are probable and can be reasonably estimated. As of September 30, 2024, the Company accrued $0.6 million in Accrued liabilities for customer and supplier disputes. In addition, the Company accrued $17.1 million related to the resolution of the SEC investigation, of which $8.8 million is recorded in Accrued liabilities and $8.3 million in Accrued SEC settlement. As of December 31, 2023, the Company accrued $0.5 million in Accrued liabilities for a customer dispute. In addition, the Company accrued $25.0 million related to the resolution of the SEC investigation, of which $17.0 million is recorded in Accrued liabilities and $8.0 million in Accrued SEC settlement. Other than the SEC and Worthington matters described below, the outcome of individual matters is not predictable with assurance, the assessments are based on the Company’s knowledge and information available at the time; thus, the ultimate outcome of any matter could require payment substantially in excess of the amount being accrued and/or disclosed. The Company is party to current legal proceedings as discussed more fully below. Shareholder Securities and Derivative Litigation Three related putative securities class action lawsuits were filed between September 30, 2021 and November 15, 2021, in the U.S. District Court for the Western District of New York against the Company, certain of the Company’s current and former officers and directors and certain former officers and directors of Decarbonization Plus Acquisition Corporation (“DCRB”) (Kauffmann v. Hyzon Motors Inc., et al. (No. 21- cv-06612-CJS), Brennan v. Hyzon Motors Inc., et al. (No. 21-cv-06636-CJS), and Miller v. Hyzon Motors Inc. et al. (No. 21-cv-06695-CJS)), asserting violations of federal securities laws. The complaints generally allege that the Company and individual defendants made materially false and misleading statements relating to the nature of the Company’s customer contracts, vehicle orders, and sales and earnings projections, based on allegations in a report released on September 28, 2021, by Blue Orca Capital, an investment firm that indicated that it held a short position in the Company’s stock and which has made numerous allegations about the Company. These lawsuits were consolidated under the caption In re Hyzon Motors Inc. Securities Litigation (Case No. 6:21-cv-06612-CJS-MWP), and on March 21, 2022, the court-appointed lead plaintiff filed a consolidated amended complaint seeking monetary damages. The Company and individual defendants moved to dismiss the consolidated amended complaint on May 20, 2022, and the court-appointed lead plaintiff filed its opposition to the motion on July 19, 2022. The court-appointed lead plaintiff filed an amended complaint on March 21, 2022, and a second amended complaint on September 16, 2022. Briefing regarding the Company and individual defendants’ anticipated motion to dismiss the second amended complaint was stayed pending a non-binding mediation among the parties, which took place on May 9, 2023. The parties did not reach a settlement during the May 9, 2023 mediation. On June 20, 2023, the court granted the lead plaintiff leave to file a third amended complaint, which was filed on June 23, 2023. The third amended complaint added additional claims. The Company filed a motion to dismiss on September 13, 2023, and DCRB and former DCRB officers, directors, and its sponsor filed a motion to dismiss on the same day. The lead plaintiff filed oppositions to the motions to dismiss on October 25, 2023, and defendants filed a reply on November 22, 2023. The parties are awaiting a ruling from the court. Between December 16, 2021, and January 14, 2022, three related shareholder derivative lawsuits were filed in the U.S. District Court for the Western District of New York (Lee v. Anderson et al. (No. 21-cv-06744-CJS), Révész v. Anderson et al. (No. 22-cv-06012-CJS), and Shorab v. Anderson et al. (No. 22-cv-06023-CJS)). These three lawsuits have been consolidated under the caption In re Hyzon Motors Inc. Derivative Litigation (Case No. 6:21-cv-06744-CJS). On February 2, 2022, a similar stockholder derivative lawsuit was filed in the U.S. District Court for the District of Delaware (Yellets v. Gu et al. (No. 22-cv-00156)). On February 3, 2022, a similar shareholder derivative lawsuit was filed in the Supreme Court of the State of New York, Kings County (Ruddiman v. Anderson et al. (No. 503402/2022)). On February 13, 2023, a similar stockholder derivative lawsuit was filed in the Delaware Court of Chancery (Kelley v. Knight et al. (C.A. No. 2023-0173)). These lawsuits name as defendants certain of the Company’s current and former directors and certain former directors of DCRB, along with the Company as a nominal defendant, and generally allege that the individual defendants breached their fiduciary duties by making or failing to prevent the misrepresentations alleged in the consolidated securities class action, and assert claims for violations of federal securities laws, breach of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and/or waste of corporate assets. These lawsuits generally seek equitable relief and monetary damages. Each of the shareholder derivative actions has been stayed or the parties have jointly requested that it be stayed pending a decision regarding the anticipated motion to dismiss in the consolidated securities class action. On March 18, 2022, a putative class action complaint, Malork v. Anderson et al. (C.A. No. 2022-0260- KSJM) (“Malork”), was filed in the Delaware Court of Chancery against certain officers and directors of DCRB, DCRB’s sponsor, and certain investors in DCRB’s sponsor, alleging that the director defendants and controlling stockholders of DCRB’s sponsor breached their fiduciary duties in connection with the merger between DCRB and Legacy Hyzon. The complaint seeks equitable relief and monetary damages. On May 26, 2022, the defendants in this case moved to dismiss the complaint. On August 2, 2022, the plaintiff filed an amended complaint. Defendants filed a motion to dismiss the amended complaint on August 15, 2022. Briefing on the motion to dismiss is now complete, and oral argument occurred on April 21, 2023. On July 17, 2023, the Delaware Court of Chancery denied the defendants’ motion to dismiss the complaint. In August 2023, the plaintiff in Malork subpoenaed Hyzon for various documentation in connection with the litigation against the named defendants. In December 2023, the Company paid $1.5 million dollars in legal fees on behalf of the named individual defendants pursuant to an indemnity agreement between DCRB and the named individual defendants. The Company does not expect to incur further legal fees in connection with the indemnity agreement. On August 5, 2024, Hyzon was served by the plaintiff in Malork with a Second Amended Complaint naming the Company and its former CEO, Craig Knight, as additional defendants (individually and collectively, the “Legacy Hyzon Defendants”). The Second Amended Complaint alleges new claims that the Legacy Hyzon Defendants aided and abetted the breaches of fiduciary duty alleged against the originally named Malork defendants. The Company will defend itself in this litigation. The Company is obligated to defend and indemnify or assume the defense of Craig Knight in this litigation given his role as a former officer and director of the Company. On July 31, 2024, the plaintiff and the originally named defendants reached a tentative mediated settlement. The Legacy Hyzon Defendants are not parties to this settlement and remain as defendants. Between January 26, 2022 and August 22, 2022, Hyzon received demands for books and records pursuant to Section 220 of the Delaware General Corporation Law from four stockholders who state they are investigating whether to file similar derivative or stockholder lawsuits, among other purposes. On May 31, 2022, one of these four stockholders represented that he had concluded his investigation and did not intend to file a complaint. On November 18, 2022, a second of the four stockholders filed a lawsuit in the Delaware Court of Chancery (Abu Ghazaleh v. Decarbonization Plus Acquisition Sponsor, LLC et al. (C.A. No. 2022-1050)), which was voluntarily dismissed shortly thereafter on December 1, 2022. On February 13, 2023, a third of these four stockholders filed a derivative lawsuit in the Delaware Court of Chancery (Kelley v. Knight et al. (C.A. No. 2023-0173)). The complaint asserts claims for breach of fiduciary duty and generally alleges that the individual defendants breached their fiduciary duties by making or failing to prevent misrepresentations including those alleged in the consolidated securities class action and the report released by Blue Orca Capital. As with the previously filed stockholder derivative lawsuits, the complaint seeks equitable relief and monetary damages. On April 17, 2023, the Court entered an order staying this action pending a decision on the anticipated motion to dismiss in the consolidated securities class action. On April 18, 2023, the Company received a demand for books and records pursuant to Section 220 of the Delaware General Corporation Law from a stockholder seeking to investigate possible breaches of fiduciary duty or other misconduct or wrongdoing by the Company's controlling stockholder, Hymas Pte. Ltd. (“Hymas”), Hyzon's Board of Directors (the "Board") and/or certain members of Hyzon's senior management team in connection with the Company's entrance into (i) an equity transfer agreement (the “Equity Transfer”) with certain entities affiliated with the Company, and (ii) the share buyback agreement with the Hymas (the “Share Buyback” and, together with the Equity Transfer, the “Transactions”) as reported by the Company in its Form 8-K filed on December 28, 2022. No further developments have occurred since the shareholder’s demand. Litigation Involving Former Officers and Directors On June 14, 2024, the Company received a complaint and demand for arbitration from counsel for Craig Knight, the Company’s former CEO. Mr. Knight asserts that the Company breached his employment agreement by failing to pay him severance, a bonus, and a long term (equity) incentive. The Company’s Board of Directors ultimately determined in January 2023 that Craig Knight’s termination was “for cause” as disclosed in its Current Report on Form 8-K/A filed with the SEC on February 1, 2023. The Company believes Mr. Knight’s claims are without merit and will vigorously defend itself against them. The above proceedings are subject to uncertainties inherent in the litigation process. The Company cannot predict the outcome of these matters or estimate the possible loss or range of possible loss, if any at this time. Government Investigations On September 26, 2023, the Company announced a final resolution, subject to court approval, of the SEC’s investigation. On that date, the SEC filed a complaint in the U.S. District Court for the Western District of New York naming the Company, Craig Knight, the Company’s former Chief Executive Officer and a former director, and Max C.B. Holthausen, a former managing director of the Company’s European subsidiary, Hyzon Europe, as defendants. Without admitting or denying the allegations in the SEC’s complaint, the Company consented to the entry of a final judgment, subject to court approval, that would permanently restrain and enjoin the Company from violating certain sections of and rules under the Exchange Act and the Securities Act, and would require the Company to pay a civil penalty of $25.0 million as follows: $8.5 million within 30 days of entry of the final judgment; (2) $8.5 million by December 31, 2024; and (3) $8.0 million by January 15, 2026. Mr. Knight and Mr. Holthausen also separately consented to the entry of final judgments, subject to court approval, resolving the SEC’s allegations. On January 16, 2024, the U.S. District Court for the Western District of New York entered the final judgment as to the Company, and on January 17, 2024 entered the final judgments as to Mr. Knight and Mr. Holthausen, concluding this litigation. The Company paid the first tranche of $8.5 million in January 2024 and accrues interest on unpaid amounts due after 30 days of the entry of the final judgment at a rate equal to the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System. Customer and Supplier Disputes On July 28, 2023, Worthington Industries Poland SP.Z.O.O, a Hyzon Europe supplier (“Worthington”), filed a complaint in the Amsterdam District Court in the Netherlands, against Hyzon Europe for breach of contract and obtained an attachment covering Hyzon Europe’s bank accounts. Accordingly, $1.2 million included in those Hyzon Europe's bank accounts are recorded as restricted cash in the unaudited interim Consolidated Balance Sheets as of September 30, 2024. The complaint sought damages from Hyzon Europe totaling approximately Euro €4.6 million (approximately $5.1 million in USD). On September 18, 2024, the parties agreed to settle this matter without admitting liability, with Worthington agreeing to dismiss its complaint and release its attachment, and with Hyzon agreeing to pay Worthington Euro €0.5 million (approximately $0.6 million in USD). In connection with the voluntary administration of Hyzon Australia, certain Hyzon Australia customers and its former landlord have filed or threatened actions seeking to enforce performance guarantees or have tendered demands on bank guarantees made by the Company or its subsidiary, Hyzon Motors USA Inc., the direct shareholder of Hyzon Australia. One such action is a lawsuit filed on September 12, 2024 in the Supreme Court of Queensland, Brisbane, Australia, by Ark Energy H2 Pty Ltd.(“Ark Energy”) against our subsidiary, Hyzon Motors USA Inc., seeking damages of $2.3 million plus interest and costs pursuant to a parent guarantee dated September 23, 2021 that Hyzon Motors USA Inc. issued to Ark Energy in connection with a vehicle supply agreement entered into effective August 30, 2021 between Hyzon Australia and Ark Energy. Ark Energy’s lawsuit claims that Hyzon Australia breached this agreement. Hyzon Motors USA Inc. intends to vigorously defend against this lawsuit. Also in connection with Hyzon Australia’s voluntary liquidation, on or about September 11, 2024, RACV, Hyzon Australia’s landlord, tendered a demand for payment totaling $0.6 million under a bank guarantee made by Hyzon Motors USA Inc. to RACV, claiming that Hyzon Australia breached the terms of a lease agreement allegedly entered into by Hyzon Australia. RACV has collected under this bank guarantee. Hyzon denies RACV’s claims and is evaluating possible legal action to recover funds paid to RACV under this bank guarantee. The Company has also received a demand from a Hyzon Australia customer seeking to enforce the terms of a parent guarantee that the Company issued pursuant to a vehicle supply agreement between Hyzon Australia and the customer. The demand totals AUD A$0.3 million (approximately $0.2 million in USD). The Company is disputing this claim. Regardless of outcome, such proceedings or claims can have an adverse impact on the Company because of legal defense and settlement costs, the Company’s obligations to indemnify third parties, diversion of resources, and other factors, and there can be no assurances that favorable outcomes will be obtained. Other than the matters disclosed above, based on the nature of these cases, the Company cannot predict the outcome of these currently outstanding customer and supplier dispute matters or estimate the possible loss or range of possible loss, if any.

Stock-based Compensation Plans

Stock-based Compensation Plans	9 Months Ended
Stock-based Compensation Plans	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation Plans	Stock-based Compensation Plans The following table summarizes the Company’s stock option, Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) activity: Stock Options RSUs PSUs Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual (Years) Aggregate Intrinsic Value (in 000s) Number of RSUs Weighted Average Grant Date Fair Value Number of PSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 295,470 $ 60.00 10.37 — 273,647 $ 74.90 45,307 $ 47.69 Granted — $ — — — 301,219 $ 21.18 70,005 $ 38.20 Exercised or released — $ — — — (138,377) $ 49.58 (14,170) $ 45.56 Forfeited/Cancelled (458) $ 56.50 — — (70,503) $ 57.72 (8,526) $ 39.09 Outstanding at September 30, 2024 295,012 $ 60.22 9.63 — 365,986 $ 43.57 92,616 $ 41.63 Vested and expected to vest, September 30, 2024 294,999 $ 60.22 9.63 — 365,986 $ 43.57 — $ — Exercisable and vested at September 30, 2024 281,761 $ 16.87 9.86 — — — — — As of September 30, 2024, there was $0.2 million of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 1.65 years. RSUs granted under the Company’s equity incentive plans typically vest over a one The total fair value of RSUs and PSUs is determined based upon the stock price on the date of grant. As of September 30, 2024, unrecognized compensation costs related to unvested RSUs of $9.2 million is expected to be recognized over a remaining weighted average period of 2.10 years. As of September 30, 2024, unrecognized compensation costs related to unvested PSUs of $3.0 million is expected to be recognized over a remaining weighted average period of 0.92 years.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Registered direct offering On July 22, 2024, the Company closed an offering pursuant to a securities purchase agreement (the “Purchase Agreement”) entered into with certain investors. Pursuant to the Purchase Agreement, the Company issued in a registered direct offering an aggregate of (i) 450,000 shares of the Company’s Class A common stock, and (ii) warrants to purchase up to 450,000 shares of Class A common stock (the “July 2024 Warrants”). The offering price per share of Class A common stock and accompanying July 2024 Warrant was $10.00 per share, and the net proceeds to the Company from the Offering was approximately $3.8 million. The July 2024 Warrants were immediately exercisable upon issuance at an exercise price of $15.00 per share and have a term of five years from the date of issuance. Upon the completion of the reverse stock split on September 11, 2024 (a) the exercise price of the July 2024 Warrants was reset to $2.85 and (b) the number of shares issuable under the July 2024 Warrants was adjusted from 450,000 to 2,368,421. The July 2024 Warrants contain repricing provisions that require the exercise price to be reset whenever the Company issues or sells common stock at a price below the then existing exercise price of the July 2024 Warrants. In addition, certain fundamental transactions, such as a change in control, permit the warrant holders to settle the July 2024 Warrants for cash in an amount determined by applying the Black-Scholes pricing model. Further, so long as the July 2024 Warrants are outstanding, the Company is prohibited from entering into certain variable rate transactions where the Company issues or sells debt or equity securities that are convertible into or exchangeable or exercisable for additional shares of Class A common stock. Subsequent to September 30, 2024, the Company sold shares of common stock in its at the market program such that as of November 1, 2024 the July 2024 Warrants have an exercise price of $1.66. At the market program On June 6, 2024, the Company entered into a sales agreement pursuant to which it may sell shares of Class A common stock pursuant to an at-the-market equity program. On September 27, 2024, the Company began issuing shares pursuant to the at-the-market equity program under which shares of common stock are sold in open market transactions. Between September 27 and September 30, 2024, 57,500 shares were sold raising $0.1 million net of commissions. The net proceeds were received by the Company after September 30, 2024. No other shares of Class A common stock were sold pursuant to the at-the-market equity program during the quarter ended September 30, 2024. The Company intends to use the net proceeds from these at the market offerings for working capital and general corporate purposes. Common Stock On July 18, 2024, the Company filed a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware increasing the number of authorized shares of Class A common stock, par value $0.0001 per share from 8,000,000 to 20,000,000 shares (on a post reverse split basis). The Certificate of Amendment became effective upon filing with the Secretary of State. At September 30, 2024 and December 31, 2023, there were 5,510,056 and 4,901,630 shares of Class A common stock issued and outstanding, respectively. Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.0001 per share. At September 30, 2024 and December 31, 2023, no preferred stock was issued and outstanding, respectively. Public and Private Placement Warrants At September 30, 2024 and December 31, 2023, there were 220,273 public warrants and 160,290 private warrants outstanding, for a total of 380,563 warrants outstanding. At September 30, 2024 and December 31, 2023, there were 3,401 Ardour Warrants outstanding.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Horizon IP Agreement In January 2021, the Company entered into an intellectual property agreement (the “Horizon IP Agreement”) with Jiangsu Qingneng New Energy Technologies Co., Ltd. and Shanghai Qingneng Horizon New Energy Ltd. (together, “JS Horizon”) both of which are subsidiaries of the Company’s ultimate parent, Horizon. In September 2021, Jiangsu Horizon Powertrain Technologies Co. Ltd. (“JS Powertrain”) was an added party to the agreement. Pursuant to the agreement the parties convey to each other certain rights in intellectual property relating to Hyzon’s core fuel cell and mobility product technologies, under which Hyzon was to pay JS Horizon and JS Powertrain a total fixed payment of $10.0 million. The full $10.0 million has been paid, $6.9 million was paid in 2021 and the remaining $3.1 million was paid in February 2022. Hyzon Motors USA Inc., a subsidiary of the Company, entered into a Second Amendment (the “Second Amendment”) to the Horizon IP Agreement. The Second Amendment was effective September 22, 2023. Under the terms of the Second Amendment, the parties have agreed to certain amendments to the Horizon IP Agreement pertaining to their rights in and to hydrogen fuel cell intellectual property. The parties have also agreed to a term for the Horizon IP Agreement that shall expire on the seven-year anniversary of the effective date of the Second Amendment. Sponsorship of Stockholm Hearts Equestrian Show Jumping Team As part of the Company’s strategic marketing plan, the Company contracted to sponsor the Stockholm Hearts, a professional equestrian show jumping team (the “Team”). The annual sponsorship fee is €100,000 (approximately $107,000 in USD) for a one-year sponsorship. The Company paid the sponsorship fee in April 2024. Mr. Erik Anderson, the Company’s Chairman, owns a minority interest in the Team. The Company’s sponsorship was approved by the Company’s Board of Directors prior to execution. Related Party Payables and Receivables Horizon Fuel Cell Technologies and Related Subsidiaries The Company made deposit payments to Horizon and its subsidiaries to secure fuel cell components. As of September 30, 2024, the remaining deposit balance was $0.1 million and included within Prepaid expenses and other current assets in the unaudited interim Consolidated Balance Sheets. As of September 30, 2024, the related party payable, net to Horizon and its subsidiaries is $0.8 million. The related party payable, net from Horizon and its subsidiaries was $0.3 million as of December 31, 2023.

Loss per share

Loss per share	9 Months Ended
Loss per share	Sep. 30, 2024
Earnings Per Share [Abstract]
Loss per share	Loss per share The following table presents the information used in the calculation of the Company’s basic and diluted net loss per share attributable to Hyzon common stockholders (in thousands, except per share data): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net loss attributable to Hyzon $ (41,319) $ (44,054) $ (126,334) $ (134,550) Weighted average shares outstanding: Basic 5,337 4,898 5,173 4,894 Effect of dilutive securities — — — — Diluted 5,337 4,898 5,173 4,894 Net loss per share attributable to Hyzon: Basic $ (7.74) $ (8.99) $ (24.42) $ (27.49) Diluted $ (7.74) $ (8.99) $ (24.42) $ (27.49) Potentially dilutive shares are excluded from the computation of diluted net loss per share when their effect is antidilutive. The potential dilutive securities are summarized as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Restricted stock units 366 239 366 239 Performance stock units 93 59 93 59 Stock options with service conditions 260 262 260 262 Stock options for former CTO 35 35 35 35 Private placement warrants 160 160 160 160 Public warrants 220 220 220 220 July 2024 warrants 2,368 — 2,368 — Earnout shares 465 465 465 465 Hongyun warrants 1 1 1 1 Ardour warrants 3 3 3 3

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn November 1, 2024, the Company filed a preliminary proxy statement, and on November 12, 2024, the Company filed a definitive proxy statement, seeking approval from shareholders to increase the number of authorized shares of Common Stock from 20,000,000 to 120,000,000. The related special meeting of shareholders is scheduled for December 6, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net loss attributable to Hyzon	$ (41,319)	$ (44,054)	$ (85,015)	$ (90,496)	$ (126,334)	$ (134,550)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the requirements and rules of the Securities and Exchange Commission (“SEC”). Any reference in these notes to applicable guidance refers to U.S. GAAP as found in U.S. Accounting Standards Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB"). Certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, the unaudited interim consolidated financial statements should be read in connection with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2023.
Reclassifications	Reclassifications

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table shows disaggregated revenue from contracts with customers by region for the three and nine months ended September 30, 2024 (in thousands). Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 U.S. Australia China Total U.S. Australia China Total Revenue by region $ 134 $ — $ — $ 134 $ 901 $ 8,474 $ 1,056 $ 10,430

Restructuring and Related Cha_2

Restructuring and Related Charges (Tables)	9 Months Ended
Restructuring and Related Charges (Tables)	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Restructuring and related charges consisted of the following (in thousands): Three Months Ended September 30, 2024 Three Months Ended Nine Months Ended Nine Months Ended Asset-related $ — $ 4,602 $ 1,272 $ 4,602 Employee-related 1,604 283 3,427 283 Other Costs — — 69 — Total $ 1,604 $ 4,885 $ 4,768 $ 4,885

Inventory (Tables)

Inventory (Tables)	9 Months Ended
Inventory (Tables)	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in thousands): September 30, December 31, Raw materials $ 3,751 $ 11,380 Work in process 2,285 9,918 Finished Goods — 7,513 Total inventory $ 6,036 $ 28,811

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
Prepaid Expenses and Other Current Assets (Tables)	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, Deposit for fuel cell components (Note 16) $ 134 $ 2,927 Vehicle inventory deposits — 262 Production equipment deposits 118 623 Other prepaid expenses 1,456 1,333 Prepaid insurance 3,965 3,827 VAT receivable from government 160 363 Total prepaid expenses and other current assets $ 5,833 $ 9,335

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Tables)	9 Months Ended
Property, Plant, and Equipment, net (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant, and equipment, net consisted of the following (in thousands): September 30, December 31, Land and building $ — $ 2,823 Machinery and equipment 3,373 12,420 Software — 3,403 Leasehold improvements — 3,306 Construction in progress 150 2,652 Total Property, plant, and equipment 3,523 24,604 Less: Accumulated depreciation and amortization — (6,035) Property, plant and equipment, net $ 3,523 $ 18,569

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
Accrued Liabilities (Tables)	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Labilities	Accrued liabilities consisted of the following (in thousands): September 30, December 31, Payroll and payroll related expenses $ 6,422 $ 5,261 Accrued professional fees 2,535 2,411 Accrued product warranty costs 93 840 Accrued contract manufacturer costs — 1,424 Accrued contract termination costs (Note 13) 558 470 Accrued SEC settlement (Note 13) 8,787 17,000 Other accrued expenses 1,633 2,710 Accrued liabilities $ 20,028 $ 30,116

Investments in Equity Securit_2

Investments in Equity Securities (Tables)	9 Months Ended
Investments in Equity Securities (Tables)	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Equity Securities	The following table summarizes the total carrying value of held securities, measured as the total initial cost plus cumulative net gain (loss) (in thousands): September 30, December 31, Total initial cost basis $ 4,948 $ 4,948 Adjustments: Cumulative unrealized gain 12,530 12,530 Cumulative impairment (17,478) (16,715) Carrying amount, end of period $ — $ 763

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Summary of assets and liabilities that are measured at fair value on a recurring basis	The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): As of September 30, 2024 Level 1 Level 2 Level 3 Total Liabilities: July 2024 warrant liability $ — $ — $ 4,833 $ 4,833 Warrant liability – Private Placement Warrants $ — $ 160 $ — $ 160 Earnout shares liability $ — $ — $ 5 $ 5 As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: $ 75,312 $ — $ — $ 75,312 Liabilities: Warrant liability – Private Placement Warrants $ — $ 160 $ — $ 160 Earnout shares liability $ — $ — $ 1,725 $ 1,725
Summary of quantitative information regarding Level 3 fair value measurement inputs	The following table provides quantitative information regarding Level 3 fair value measurement inputs as of September 30, 2024 and July 22, 2024 (the issuance date): September 30, 2024 July 22, 2024 Stock price $ 2.43 $ 8.00 Exercise price (strike price) $ 2.85 $ 15.00 Risk-free interest rate 3.6 % 4.2 % Volatility 108.8 % 112.8 % Remaining term (in years) 4.8 5.0 September 30, December 31, Stock price $ 2.43 $ 44.75 Risk-free interest rate 3.7 % 4.1 % Volatility 131.2 % 91.0 % Remaining term (in years) 1.79 2.54
Summary of the changes in the liability for July 2024, Private Placement warrants and Earnout	The loss was measured as follows: July 2024 Warrants Gross proceeds at issuance $ 4,498 Fair value at issuance 5,065 Loss on issuance $ (567) The following table presents that changes in the liability for July 2024 Warrants from the issuance date to September 30, 2024. July 2024 Warrants Balance as of July 22, 2024 $ 5,065 Change in estimated fair value (232) Balance as of September 30, 2024 $ 4,833 The following table presents the changes in the liabilities for Private Placement Warrants and Earnout for the nine months ended September 30, 2024 (in thousands): Private Placement Warrants Earnout Balance as of December 31, 2023 $ 160 $ 1,725 Change in estimated fair value — (1,720) Balance as of September 30, 2024 $ 160 $ 5

Stock-based Compensation Plans

Stock-based Compensation Plans (Tables)	9 Months Ended
Stock-based Compensation Plans (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option, RSU and PSU Activity	The following table summarizes the Company’s stock option, Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) activity: Stock Options RSUs PSUs Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual (Years) Aggregate Intrinsic Value (in 000s) Number of RSUs Weighted Average Grant Date Fair Value Number of PSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 295,470 $ 60.00 10.37 — 273,647 $ 74.90 45,307 $ 47.69 Granted — $ — — — 301,219 $ 21.18 70,005 $ 38.20 Exercised or released — $ — — — (138,377) $ 49.58 (14,170) $ 45.56 Forfeited/Cancelled (458) $ 56.50 — — (70,503) $ 57.72 (8,526) $ 39.09 Outstanding at September 30, 2024 295,012 $ 60.22 9.63 — 365,986 $ 43.57 92,616 $ 41.63 Vested and expected to vest, September 30, 2024 294,999 $ 60.22 9.63 — 365,986 $ 43.57 — $ — Exercisable and vested at September 30, 2024 281,761 $ 16.87 9.86 — — — — —

Loss per share (Tables)

Loss per share (Tables)	9 Months Ended
Loss per share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table presents the information used in the calculation of the Company’s basic and diluted net loss per share attributable to Hyzon common stockholders (in thousands, except per share data): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net loss attributable to Hyzon $ (41,319) $ (44,054) $ (126,334) $ (134,550) Weighted average shares outstanding: Basic 5,337 4,898 5,173 4,894 Effect of dilutive securities — — — — Diluted 5,337 4,898 5,173 4,894 Net loss per share attributable to Hyzon: Basic $ (7.74) $ (8.99) $ (24.42) $ (27.49) Diluted $ (7.74) $ (8.99) $ (24.42) $ (27.49)
Schedule of antidilutive securities excluded from computation of earnings per share	Potentially dilutive shares are excluded from the computation of diluted net loss per share when their effect is antidilutive. The potential dilutive securities are summarized as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Restricted stock units 366 239 366 239 Performance stock units 93 59 93 59 Stock options with service conditions 260 262 260 262 Stock options for former CTO 35 35 35 35 Private placement warrants 160 160 160 160 Public warrants 220 220 220 220 July 2024 warrants 2,368 — 2,368 — Earnout shares 465 465 465 465 Hongyun warrants 1 1 1 1 Ardour warrants 3 3 3 3

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Detail) $ in Thousands			3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 11, 2024	Jul. 22, 2024 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Oct. 31, 2024 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 06, 2024 shares	Jul. 18, 2024 shares	Jul. 17, 2024 shares	Dec. 31, 2023 USD ($) shares
Subsidiary, Sale of Stock [Line Items]
Cash flows provided by (used in) operating activities						$ (87,969)	$ (112,072)
Unrestricted cash and cash equivalents			$ 30,428			30,428					$ 112,280
Restricted cash			4,100			4,100
Net loss			41,320	$ 44,055		126,412	$ 134,568
Accumulated deficit			$ 368,974			$ 368,974					$ 242,640
Common stock, shares authorized (in shares) \| shares			20,000,000			20,000,000					20,000,000
Stock split, conversion ratio	0.02
Common Class A
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares			20,000,000			20,000,000			20,000,000	8,000,000
Subsequent Event \| Common Class A \| Forecast
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares								120,000,000
Securities Purchase Agreement July 2024
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock, at-the-market program, net		$ 3,800	$ 3,800
At-the-market Program \| Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock, at-the-market program, net					$ 4,800

Revenue - Disaggregation of rev

Revenue - Disaggregation of revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 134	$ 0	$ 10,430	$ 0
U.S.
Disaggregation of Revenue [Line Items]
Revenue	134		901
Australia
Disaggregation of Revenue [Line Items]
Revenue	0		8,474
China
Disaggregation of Revenue [Line Items]
Revenue	$ 0		$ 1,056

Revenue - Additional informatio

Revenue - Additional information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
Revenue - Additional information (Detail) $ in Thousands	Feb. 29, 2024 USD ($)	Dec. 31, 2022 lawsuit fCEV	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Contract liabilities			$ 469	$ 8,872
Long term customer contract liabilities			1,200	$ 3,000
China
Disaggregation of Revenue [Line Items]
Number of customers \| lawsuit		2
Settlement payments received on past due receivables	$ 1,100
Retrofit Services
Disaggregation of Revenue [Line Items]
Contract liabilities			1,000
Retrofit Services \| Contract with Customer, Liability, Current
Disaggregation of Revenue [Line Items]
Contract liabilities			400
Retrofit Services \| Other Noncurrent Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities			$ 600
FCEV \| China
Disaggregation of Revenue [Line Items]
Number of FCEVs delivered \| fCEV		82

Restructuring and Related Cha_3

Restructuring and Related Charges - Additional information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 10, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Asset-related			$ 11,100		$ 12,500
Gain on lease termination			2,096	$ 0	2,096	$ 0
Gain on deconsolidation of subsidiary			2,559	0	2,559	0
Rochester, New York Facility
Restructuring Cost and Reserve [Line Items]
Sales price of facility		$ 3,100
Restructuring Plan, 2023
Restructuring Cost and Reserve [Line Items]
Asset-related			0	4,602	1,272	4,602
Employee-related			1,604	283	$ 3,427	283
Europe \| The 2023 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Asset-related				4,600
Impairment loss of right-of-use asset				2,800
Gain on lease termination			$ 2,100
Europe \| The 2023 Restructuring Program \| Property, Plant and Equipment
Restructuring Cost and Reserve [Line Items]
Asset-related				$ 1,800		$ 1,800
Australia \| The 2023 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Gain on deconsolidation of subsidiary	$ 2,600

Restructuring and Related Cha_4

Restructuring and Related Charges - Restructuring costs by type (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Asset-related	$ 11,100		$ 12,500
Total	1,604	$ 4,885	4,768	$ 4,885
Restructuring Plan, 2023
Restructuring Cost and Reserve [Line Items]
Asset-related	0	4,602	1,272	4,602
Employee-related	1,604	283	3,427	283
Total	1,604	4,885	4,768	4,885
Other Restructuring \| Restructuring Plan, 2023
Restructuring Cost and Reserve [Line Items]
Other Costs	$ 0	$ 0	$ 69	$ 0

Inventory - Schedule of invento

Inventory - Schedule of inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 3,751	$ 11,380
Work in process	2,285	9,918
Finished Goods	0	7,513
Total inventory	$ 6,036	$ 28,811

Inventory - Additional informat

Inventory - Additional information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Inventory [Line Items]
Inventory write-downs			$ 18,468	$ 4,781
Cost of Sales
Inventory [Line Items]
Inventory write-downs	$ 0	$ 2,700	$ 18,500	$ 4,800

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of prepaid expenses and other current assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deposit for fuel cell components (Note 16)	$ 134	$ 2,927
Vehicle inventory deposits	0	262
Production equipment deposits	118	623
Other prepaid expenses	1,456	1,333
Prepaid insurance	3,965	3,827
VAT receivable from government	160	363
Total prepaid expenses and other current assets	$ 5,833	$ 9,335

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net - Schedule of property, plant and equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total Property, plant, and equipment	$ 3,523	$ 24,604
Less: Accumulated depreciation and amortization	0	(6,035)
Property, plant and equipment, net	3,523	18,569
Land and building
Property, Plant and Equipment [Line Items]
Total Property, plant, and equipment	0	2,823
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total Property, plant, and equipment	3,373	12,420
Software
Property, Plant and Equipment [Line Items]
Total Property, plant, and equipment	0	3,403
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total Property, plant, and equipment	0	3,306
Construction in progress
Property, Plant and Equipment [Line Items]
Total Property, plant, and equipment	$ 150	$ 2,652

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, net - Additional information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 0.9	$ 1	$ 2.8	$ 3.2
Asset impairment charges	$ 11.1		$ 12.5
Europe \| The 2023 Restructuring Program
Property, Plant and Equipment [Line Items]
Asset impairment charges		4.6
Europe \| Property, Plant and Equipment \| The 2023 Restructuring Program
Property, Plant and Equipment [Line Items]
Asset impairment charges		$ 1.8		$ 1.8

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of accrued liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Payroll and payroll related expenses	$ 6,422	$ 5,261
Accrued professional fees	2,535	2,411
Accrued product warranty costs	93	840
Accrued contract manufacturer costs	0	1,424
Accrued contract termination costs (Note 13)	558	470
Accrued SEC settlement (Note 13)	8,787	17,000
Other accrued expenses	1,633	2,710
Accrued liabilities	$ 20,028	$ 30,116

Investments in Equity Securit_3

Investments in Equity Securities - Additional information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Raven SR S1 LLC
Schedule of Equity Method Investments [Line Items]
Impairment loss on equity securities	$ 800	$ 800

Investments in Equity Securit_4

Investments in Equity Securities - Summary of equity securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Total initial cost basis	$ 4,948	$ 4,948
Adjustments:
Cumulative unrealized gain	12,530	12,530
Cumulative impairment	(17,478)	(16,715)
Carrying amount, end of period	$ 0	$ 763

Equity Method Investments (Deta

Equity Method Investments (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Equity Method Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 0	$ 0	$ 8,382
Raven SR S1 LLC
Schedule of Equity Method Investments [Line Items]
Equity method investments				$ 8,500
Equity method investments, expected investments remaining				$ 1,500
Percentage of facility construction complete				50%
Equity method investments, expected total investments				$ 10,000
Equity method investments, expected total investments, percentage				20%
Impairment of equity method investments	$ 8,400	$ 8,400

Income Taxes (Detail)

Income Taxes (Detail) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes (Detail) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 0	$ 0	$ 0	$ 0
Unrecognized tax benefit	0		0		$ 0
Accrued interest and penalties	$ 0		$ 0		$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of assets and liabilities that are measured at fair value on a recurring basis (Detail) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	$ 5	$ 1,725
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	5	1,725
Cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	75,312
Cash equivalents: \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:		75,312
Cash equivalents: \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:		0
Cash equivalents: \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:		0
July 2024 warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	4,833
July 2024 warrant liability \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0
July 2024 warrant liability \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0
July 2024 warrant liability \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	4,833
Private placement warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	160	160
Private placement warrants \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Private placement warrants \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	160	160
Private placement warrants \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional information (Detail) - USD ($) $ in Thousands	Jul. 22, 2024	Sep. 30, 2024	Dec. 31, 2023
July 2024 warrant liability \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on issuance	$ 567
Fair Value, Recurring \| Cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at carrying value		$ 0	$ 75,312
Fair Value, Recurring \| Cash equivalents: \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at carrying value			$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of quantitative information regarding Level 3 fair value measurement inputs (Detail)	Sep. 30, 2024 year	Jul. 22, 2024 year	Dec. 31, 2023 year
July 2024 warrant liability \| Stock price \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	2.43	8
July 2024 warrant liability \| Exercise price (strike price) \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	2.85	15
July 2024 warrant liability \| Risk-free interest rate \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	0.036	0.042
July 2024 warrant liability \| Volatility \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	1.088	1.128
July 2024 warrant liability \| Remaining term (in years) \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	4.8	5
Earnout \| Stock price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	2.43		44.75
Earnout \| Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	0.037		0.041
Earnout \| Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	1.312		0.910
Earnout \| Remaining term (in years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	1.79		2.54

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of warrant liability (Detail) - USD ($) $ in Thousands		9 Months Ended
	Jul. 22, 2024	Sep. 30, 2024	Sep. 30, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Gross proceeds at issuance		$ 3,820	$ 0
July 2024 warrant liability \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Gross proceeds at issuance	$ 4,498
Fair value at issuance	5,065	$ 4,833
Loss on issuance	$ (567)

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of the changes in the liability for July 2024, Private Placement warrants and Earnout (Detail) - USD ($) $ in Thousands	2 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
July 2024 warrant liability \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance	$ 5,065
Change in estimated fair value	(232)
Balance	4,833	$ 4,833
Private placement warrants
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance		160
Change in estimated fair value		0
Balance	160	160
Earnout
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance		1,725
Change in estimated fair value		(1,720)
Balance	$ 5	$ 5

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands, $ in Thousands, € in Millions

1 Months Ended

7 Months Ended

9 Months Ended

12 Months Ended

Sep. 18, 2024 USD ($)

Sep. 18, 2024 EUR (€)

Sep. 12, 2024 AUD ($)

Sep. 11, 2024 USD ($)

Sep. 11, 2024 AUD ($)

Sep. 26, 2023 USD ($)

Jul. 28, 2023 USD ($)

Jul. 28, 2023 EUR (€)

May 31, 2022 stockholder

Dec. 31, 2023 USD ($)

Jan. 14, 2022 lawsuit

Aug. 22, 2022 stockholder

Sep. 30, 2024 USD ($)

Dec. 31, 2023 USD ($)

Nov. 15, 2021 lawsuit

Loss Contingencies [Line Items]

Accrued contract termination costs (Note 13)

$ 470

$ 558

$ 470

Accrued liabilities

30,116

20,028

30,116

Accrued SEC settlement

8,000

8,270

8,000

Number of class action lawsuits | lawsuit

Number of shareholder lawsuits | lawsuit

Legal Fees

1,500

Number of stockholders, demand for books and records | stockholder

Number of stockholders, not filing complaint | stockholder

Estimated civil penalty

$ 25,000

Payment for legal settlements within 30 days of settlement

8,500

Payments for legal settlements due by 12/31/2024

8,500

Payment for legal settlements within 730 days of settlement

$ 8,000

Subsidiaries

Loss Contingencies [Line Items]

Estimated civil penalty

$ 1,200

SEC Investigation

Loss Contingencies [Line Items]

SEC civil penalty

17,100

25,000

Accrued liabilities

17,000

8,800

17,000

Accrued SEC settlement

$ 8,000

$ 8,300

$ 8,000

Worthington Industries Poland SP Z.O.O. Litigation

Loss Contingencies [Line Items]

Damages sought

$ 5,100

€ 4.6

Agreed to pay, settlement amount

$ 600

€ 0.5

Ark Energy | Ark Energy H2 Pty Ltd. | Australia

Loss Contingencies [Line Items]

Damages sought

$ 2,300

Lease Agreement, Bank Guarantee | Bank Guarantee, Lease Agreement | RACV | Australia

Loss Contingencies [Line Items]

Parent guarantee, payment made by bank

$ 600

Parent Guarantee, Vehicle Supply Agreement | Australia

Loss Contingencies [Line Items]

Damages sought

$ 200

$ 300

Stock-based Compensation Plan_2

Stock-based Compensation Plans - Summary of activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Stock Options
Number of Options
Outstanding beginning balance (in shares)	295,470
Granted (in shares)	0
Exercised or released (in shares)	0
Forfeited/Cancelled (in shares)	(458)
Outstanding ending balance (in shares)	295,012	295,470
Vested an expected to vest (in shares)	294,999
Exercisable and vested (in shares)	281,761
Weighted Average Exercise Price
Outstanding, beginning balance (dollars per share)	$ 60
Granted (dollars per share)	0
Exercised or released (dollars per share)	0
Forfeited/Cancelled (dollars per share)	56.50
Outstanding, ending balance (dollars per share)	60.22	$ 60
Vested and expected to vest (dollars per share)	60.22
Exercisable and vested (dollars per share)	$ 16.87
Weighted Average Remaining Contractual (Years)
Outstanding, beginning balance (in years)	9 years 7 months 17 days	10 years 4 months 13 days
Outstanding, ending balance (in years)	9 years 7 months 17 days	10 years 4 months 13 days
Vested and expected to vest (in years)	9 years 7 months 17 days
Exercisable and vested (in years)	9 years 10 months 9 days
Aggregate Intrinsic Value (in 000s)
Outstanding, beginning balance	$ 0
Outstanding, ending balance	0	$ 0
Vested and expected to vest	0
Exercisable and vested	$ 0
RSUs
Number of RSUs / PSUs
Outstanding, beginning balance (in shares)	365,986	273,647
Granted (in shares)	301,219
Exercised or released (in shares)	(138,377)
Forfeited/Cancelled (in shares)	(70,503)
Outstanding, ending balance (in shares)	365,986	273,647
Vested and expected to vest (in shares)	365,986
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (dollars per share)	$ 43.57	$ 74.90
Granted (dollars per share)	21.18
Exercised or released (dollars per share)	49.58
Forfeited/Cancelled (dollars per share)	57.72
Outstanding ending balance (dollars per share)	43.57	$ 74.90
Vested and expected to vest (dollars per share)	$ 43.57
PSUs
Number of RSUs / PSUs
Outstanding, beginning balance (in shares)	92,616	45,307
Granted (in shares)	70,005
Exercised or released (in shares)	(14,170)
Forfeited/Cancelled (in shares)	(8,526)
Outstanding, ending balance (in shares)	92,616	45,307
Vested and expected to vest (in shares)	0
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (dollars per share)	$ 41.63	$ 47.69
Granted (dollars per share)	38.20
Exercised or released (dollars per share)	45.56
Forfeited/Cancelled (dollars per share)	39.09
Outstanding ending balance (dollars per share)	41.63	$ 47.69
Vested and expected to vest (dollars per share)	$ 0

Stock-based Compensation Plan_3

Stock-based Compensation Plans - Additional information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options	$ 0.2
Weighted average recognition period of stock-based compensation expense	1 year 7 months 24 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options	$ 9.2
Weighted average recognition period of stock-based compensation expense	2 years 1 month 6 days
RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for RSUs	1 year
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for RSUs	4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options	$ 3
Weighted average recognition period of stock-based compensation expense	11 months 1 day

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	4 Months Ended
	Sep. 30, 2024	Jul. 22, 2024	Sep. 30, 2024	Oct. 31, 2024	Nov. 04, 2024	Sep. 11, 2024	Sep. 10, 2024	Jul. 18, 2024	Jul. 17, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Common stock, par value (dollars per share)	$ 0.0001		$ 0.0001							$ 0.0001
Common stock, shares authorized (in shares)	20,000,000		20,000,000							20,000,000
Common stock, shares issued (in shares)	5,510,056		5,510,056							4,901,630
Common stock, shares outstanding (in shares)	5,510,056		5,510,056							4,901,630
Preferred stock, shares authorized (in shares)	10,000,000		10,000,000
Preferred stock, par value (dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, shares issued (in shares)	0		0							0
Preferred stock, shares outstanding (in shares)	0		0							0
Class of warrant or right, outstanding (in shares)	380,563		380,563							380,563
Public warrants
Class of Stock [Line Items]
Number of common stocks called warrant (in shares)		450,000
Class of warrant or right, outstanding (in shares)	220,273		220,273							220,273
Private placement warrants
Class of Stock [Line Items]
Class of warrant or right, outstanding (in shares)	160,290		160,290							160,290
Ardour warrants
Class of Stock [Line Items]
Class of warrant or right, outstanding (in shares)	3,401		3,401							3,401
Securities Purchase Agreement July 2024
Class of Stock [Line Items]
Number of common stocks called warrant (in shares)						2,368,421	450,000
Proceeds from issuance of common stock, at-the-market program, net		$ 3.8	$ 3.8
Class of warrant or right, exercise price of warrants or rights (dollars per share)		$ 15				$ 2.85
Warrants and rights outstanding, term		5 years
Securities Purchase Agreement July 2024 \| Subsequent Event
Class of Stock [Line Items]
Class of warrant or right, exercise price of warrants or rights (dollars per share)					$ 1.66
At-the-market Program \| Subsequent Event
Class of Stock [Line Items]
Proceeds from issuance of common stock, at-the-market program, net				$ 4.8
Common Class A
Class of Stock [Line Items]
Common stock, par value (dollars per share)								$ 0.0001
Common stock, shares authorized (in shares)	20,000,000		20,000,000					20,000,000	8,000,000
Common stock, shares issued (in shares)	5,510,056		5,510,056							4,901,630
Common stock, shares outstanding (in shares)	5,510,056		5,510,056							4,901,630
Common Class A \| Securities Purchase Agreement July 2024
Class of Stock [Line Items]
Sale of stock, number of shares issued (in shares)		450,000
Common Class A \| At-the-market Program
Class of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	57,500
Sale of stock, consideration received	$ 0.1
Common Stock And Warrant \| Securities Purchase Agreement July 2024
Class of Stock [Line Items]
Stock price (dollars per share)		$ 10

Related Party Transactions (Det

Related Party Transactions (Detail) € in Thousands, $ in Thousands	1 Months Ended			3 Months Ended	14 Months Ended
	Apr. 30, 2024 USD ($)	Apr. 30, 2024 EUR (€)	Feb. 28, 2022 USD ($)	Mar. 31, 2021 USD ($)	Feb. 28, 2022 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 22, 2023	Jan. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Sponsorship fee expense	$ 107	€ 100
Sponsorship fee, term of sponsorship	1 year	1 year
Deposit for fuel cell components (Note 16)						$ 134	$ 2,927
Related party payables						791	265
Subsidiaries
Related Party Transaction [Line Items]
Second amendment of IP agreement, term								7 years
Deposit for fuel cell components (Note 16)						100
Related party payables						$ 800
Related party receivable							$ 300
Intellectual Property \| Subsidiaries
Related Party Transaction [Line Items]
Horizon IP agreement payable									$ 10,000
Licensing Agreements \| Subsidiaries
Related Party Transaction [Line Items]
Cost of intellectual property acquired			$ 3,100	$ 6,900	$ 10,000

Loss per share - Schedule of ea

Loss per share - Schedule of earnings per share, basic and diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net loss attributable to Hyzon	$ (41,319)	$ (44,054)	$ (85,015)	$ (90,496)	$ (126,334)	$ (134,550)
Weighted average shares outstanding:
Basic (in shares)	5,337,000	4,898,000			5,173,000	4,894,000
Effect of dilutive securities (in shares)	0	0			0	0
Diluted (in shares)	5,337,000	4,898,000			5,173,000	4,894,000
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ (7.74)	$ (8.99)			$ (24.42)	$ (27.49)
Diluted (dollars per share)	$ (7.74)	$ (8.99)			$ (24.42)	$ (27.49)

Loss per share - Schedule of an

Loss per share - Schedule of antidilutive securities excluded from computation of earnings per share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	366	239	366	239
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	93	59	93	59
Stock options with service conditions
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	260	262	260	262
Stock Options \| Former Chief Technology Officer
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	35	35	35	35
Warrants \| Private placement warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	160	160	160	160
Warrants \| Public warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	220	220	220	220
Warrants \| July 2024 warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2,368	0	2,368	0
Warrants \| Hongyun warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1	1	1	1
Warrants \| Ardour warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	3	3	3	3
Earnout shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	465	465	465	465

Subsequent Events (Detail)

Subsequent Events (Detail) - shares	Sep. 30, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Common stock, shares authorized (in shares)	20,000,000	20,000,000