Big organisations like Fortescue, Cleanaway, Wesfarmers, Korea Zinc and the Royal Automobile Club of Victoria have been caught up in the collapse of the Australian division of a controversial US hydrogen vehicle manufacturer.

Hyzon Motors aimed to become the Tesla of hydrogen trucks when it listed on Nasdaq in July 2021, but has since lost 99 per cent of its value and is now making a low-ball offer to acquire its failed Australian subsidiary out of administration.