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Nikola inks hydrogen production deal with Canada's TC Energy

Nikola FCEV.jpg
Posted at 9:00 AM, Oct 11, 2021
and last updated 2021-10-11 12:00:25-04

Nikola, the Phoenix-based maker of zero-emission vehicles, announced a joint development agreement with Canada’s TC Energy on Thursday to co-develop hydrogen production facilities in the U.S. and Canada.

Nikola Corp. (Nasdaq: NKLA) and Calgary, Canada-based TC Energy Corp. (TSX, NYSE: TRP) have agreed to collaborate on development, construction and operation of hydrogen hubs, with the goal of building facilities capable of producing 150 tonnes or more of hydrogen per day in the next five years.

This agreement is designed to encourage the adoption of hydrogen fuel cell electric vehicles (FCEVs) by building out the necessary infrastructure to fuel these forthcoming vehicles. Nikola is still in pre-production, but the company plans to deliver its first battery electric vehicles (BEVs) by the end of this year, with first FCEVs expected by 2023.

Nikola’s vehicles will fall under the Class 8 vehicle classification, for large tractor-trailer trucks designed to haul freight.

TC Energy is one of the largest energy companies in North America, operating natural gas pipelines, liquid pipelines and energy production businesses. TC Energy was also the company leading development of the Keystone XL pipeline, but officially abandoned the project in June.

Read more of this story from the Business Journal.