Nikola Partners With TC Energy To Develop Hydrogen Production Hubs

Nikola Corp NKLA and TC Energy Corp TRP have signed a strategic collaboration to co-develop large-scale hydrogen production hubs in the U.S. and Canada.
The hubs are expected to produce 150 tonnes or more of hydrogen per day near highly traveled truck corridors to serve Nikola's planned need for hydrogen to fuel its Class 8 FCEVs within the next five years.
Nikola's Energy business unit and TC Energy actively collaborate to identify and develop projects to establish the infrastructure needed to deliver low-cost and low-carbon hydrogen.
In addition, Nikola and TC Energy plan to evaluate opportunities to optimize excess hub supplies to third parties under a joint marketing and services arrangement.
Price Action: NKLA shares closed higher by 4.51% at $10.67 on Thursday.