Nikola Corporation (Nasdaq: NKLA), a world pioneer in emission-free transportation and energy supply and infrastructure solutions, and Plug Power (Nasdaq: PLUG), a pioneer in providing turnkey hydrogen solutions for the global green hydrogen economy, have announced a strategic partnership to advance the hydrogen economy.
As a leading hydrogen-powered cabover for extended or continuous metro-regional applications, the Nikola Tre FCEV is anticipated to cover up to 500 miles between charges. Over the next three years, Plug will purchase up to 75 Nikola Tre FCEVs, with the first trucks arriving in 2023. As part of Plug’s efforts to promote the decarbonization of energy, the Nikola trucks will aid in the delivery of green hydrogen to customers in North America. Plug’s liquid hydrogen tankers, which are industry-leading trailers built with unprecedented over-the-road payloads, will be used in conjunction with the acquired FCEVs.
The permitting and rezoning processes and the purchase of long-lead equipment are currently underway for Nikola’s recently announced hydrogen hub project in the City of Buckeye, Arizona. The project has chosen Plug to supply its turnkey liquefaction system, which is designed to produce 30 metric tons per day in the first phase and can be scaled up to 150 metric tons per day. Nikola’s Tre FCEV program and Nikola’s hydrogen energy business will benefit from the hub’s low carbon hydrogen supply.
Furthermore, the two parties have signed a Green Hydrogen Supply Agreement for 125 metric tons per day. Nikola will be able to source hydrogen from multiple locations across the country as Plug continues to bring on new supply facilities thanks to this novel green hydrogen supply and offtake partnership.
Nikola President, Energy, Carey Mendes said, “Nikola and Plug share a common vision for sustainable, efficient, energy solutions which supports our commitment to decarbonize the transportation industry.” Nikola’s plans to increase its hydrogen energy business and promote the use of its emission-free Class 8 trucks are bolstered by this partnership.
Plug’s Chief Strategy Officer and General Manager of Energy Solutions, Sanjay Shrestha, said, “Today’s announcement demonstrates Plug’s leadership in the green hydrogen economy and its ability to make the adoption of hydrogen as easy as possible by aligning with industry pioneers such as Nikola.” Our customizable, end-to-end solutions include hydrogen production machinery and/or fuel delivery services for those who prefer it. Having Nikola as a strategic partner to help us move the hydrogen economy forward is exciting.
Nikola Tre battery-electric vehicles with a 330-mile range will be immediately available for delivery after serial production began in March 2022. Nikola Electrify Your Fleet is an online resource for more details.
THE NIKOLA COMPANY
The Nikola Corporation is revolutionizing the transportation industry on a global scale. Nikola is on a mission to transform the way we do business by designing and producing zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure. Nikola Corporation is an Arizona-based company that was established in 2015. Visit www.nikolamotor.com or follow @nikolamotor on Twitter for updates.
