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$30m hydrogen fuelling deal for electric trucks

Business news |
By Nick Flaherty

Electric truck maker Nikola has ordered 85MW of electrolysers from Nel in Norway to produce hydrogen to power its trucks.

The $30m deal will supply five of the world’s first high volume hydrogen fuelling stations, each delivering 8 tonnes of hydrogen per day. Together, the electrolysers may produce over 40,000 kgs of hydrogen each day.

The electrolyzers will primarily be delivered from the new electrolyzer mega-factory currently under development in Norway. The purchase order will support Nikola’s five initial stations with 8 ton per day hydrogen production capacity. The remaining equipment will be covered by a separate purchase order that is expected to be finalized within the coming months.

“We are building the largest hydrogen network in the world and I couldn’t be prouder to have Nel part of it,” said Trevor Milton, Nikola Corporation’s founder and executive chairman. “These electrolyzers will support five heavy duty hydrogen stations which will cover multiple states and trucking routes. The future of clean transportation is here, and fleets are lining up to be part of the transition with Nikola.”

The framework agreement was one of the key triggers for Nel deciding to develop an alkaline electrolyzer mega-factory in Norway and has enabled Nikola to reserve capacity in the new plant.

“We’re very excited to have reached this landmark milestone with Nikola. Since our partnership began in 2017, we have been working together to develop a massive large-scale hydrogen fueling station. It’s been amazing to see the significant progress made by the Nikola team specific to vehicle development and the station design, and now we are ready to start building,” said Jon André Løkke, chief executive officer of Nel.

Nikola went public last week on the Nasdaq stock exchange by reversing into an investment company, VectoIQ Acquisition. This raised over $700m for the electrolyser deal and to accelerate Nikola’s production of battery-electric (BEV) and fuel cell electric vehicles (FCEV)

The Nikola Tre electric truck will launch first in Europe through a joint venture with Nikola and IVECO. It will be built in Ulm, Germany.

www.nel.com

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