Nikola, KeyState Ink Partnership On Hydrogen Supply

  • Nikola Corp NKLA has partnered with KeyState Natural Gas Synthesis to create Pennsylvania's first low-carbon hydrogen production value chain.
  • The project is intended to represent the transition to lower emissions transportation, chemicals and manufacturing.
  • The companies will eventually enter into a definitive agreement to expand the hydrogen supply for Nikola's zero-emissions heavy-duty cell electric vehicles (FCEVs).
  • KeyState plans to supply Nikola with up to 100 tons per day of low carbon hydrogen, which can supply fuel for up to 2,500 Nikola Tre FCEVs, displacing over 51 million gallons of fossil diesel fuel per annum consumed.
  • Once operational in 2026, the 7,000 plus-acre KeyState site is expected to have the capacity to store the CO2 associated with the hydrogen production.
  • KeyState will also produce ammonia and urea for industrial and transportation markets.
  • "Nikola's participation in the project will allow us to secure sufficient volumes of hydrogen to underpin and accelerate the adoption of zero-emission trucks by unlocking new customer demand and enabling key investments in downstream hydrogen refueling infrastructure in the Mid-Atlantic region," said Nikola President, Energy, Carey Mendes.
  • Price Action: NKLA shares are trading higher by 13.75% at $3.64 on the last check Monday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny StocksContractsSmall CapGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!