Nikola Partners With Voltera To Build Up To 50 Stations For Hydrogen Trucks

Nikola

The project aims to create North America’s biggest network of hydrogen refueling stations for commercial vehicles, the companies said in an emailed statement. Virginia-based Voltera, created in 2022 with funding from Swedish investment firm EQT, will site, build, own and operate the stations using Nikola’s. Nikola will supply the hydrogen fuel and technical assistance. Nikola said the investment needed to build all 50 stations could reach $1 billion.

The deal could play a vital role in helping Nikola build up sales of the Tre hydrogen fuel cell trucks it plans to start producing later this year. The Phoenix-based company, which saw its market capitalization swell to more than $34 billion after going public in 2020 despite having no revenue, has struggled financially in the wake of founder Trevor Milton’s fraud conviction for making false statements to investors.

Voltera, which is building and opening charging stations for electric commercial vehicles, said it plans to deploy “several billion dollars” for EV charging and hydrogen fuel stations.

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Nikola Partners With Voltera To Build Up To 50 Stations For Hydrogen TrucksThe companies say the HYLA station network, to be built, owned and operated by Voltera, will be the largest of its type in North America.
Source: ForbesTech - 🏆 318. / 59 Read more »

Nikola Partners With Voltera To Build Up To 50 Stations For Hydrogen TrucksThe companies say the HYLA station network, to be built, owned and operated by Voltera, will be the largest of its type in North America.
Source: ForbesTech - 🏆 318. / 59 Read more »