"With a strengthened Board of Directors and leadership team, a streamlined product offering, and a rationalized geographic footprint, we look forward to accelerating the hydrogen industry." Without admitting or denying the allegations in the SEC's complaint, Hyzon has agreed to pay a civil monetary penalty of $25 million in three installments: $8.5 million within 30 days of entry of final judgment; $8.5 million by December 31, 2024 ; and $8 million within 730 days of entry of final judgment. In the second quarter of 2023, Hyzon accrued a $22 million loss contingency, based upon management's assessment of the SEC investigation. Also named in the SEC's complaint were Craig Knight, the company's former CEO and a former director, and Max C.B. Holthausen, a former managing director of the company's European subsidiary, Hyzon Motors Europe B.V. Knight and Holthausen also separately consented to the entry of final judgments, subject to court approval, resolving the SEC's allegations.