Hyster-Yale sold PowerTap® hydrogen generator assets to OneH2
Clients Hyster-Yale Materials Handling, Inc.
Jones Day advised Hyster-Yale Materials Handling, Inc. in the sale by subsidiary, Nuvera Fuel Cells, LLC, of substantially all of its PowerTap® hydrogen generator assets, excluding related intellectual property, to OneH2, a hydrogen fuel company. The terms of the agreement also provide OneH2 with a limited license to produce PowerTap® hydrogen generators. In exchange, Nuvera received an approximately 15% ownership interest in OneH2 and a seat on OneH2's Board.