Nikola Unveils First Commercial Hydrogen Fueling Station In Alberta Near Blackjacks Roadhouse - Nikola (NASDAQ:NKLA)

EV maker Nikola Corp NKLA said on Wednesday that a unit of the company collaborated with players, including trucker rest stop Blackjacks Roadhouse, to unveil the first commercial hydrogen fueling station in Alberta, Canada.

What Happened: The HYLA fueling station is part of Nikola’s aim to develop fueling infrastructure while simultaneously scaling hydrogen-powered vehicles. It will be situated along a busy highway in Leduc County, with about 96,000 vehicles passing by the truck stop daily.

Terming the station a “huge milestone,” Alberta Minister of Energy and Minerals Brian Jean said, “Hydrogen is the next step in our commitment to reducing emissions, and projects like this demonstrate that we have the resources, expertise and interest in our province to drive innovation and become leading suppliers of responsibly produced clean hydrogen.”

Other collaborators in the fueling station include the not-for-profit Alberta Motor Transport Association and Suncor.

Why It Matters: Nikola started delivering production hydrogen fuel cell electric trucks (FCEV) in the fourth quarter. The company delivered 35 hydrogen FCEVs in the quarter and reserved the remaining seven it made for testing and fleet demos.

For the whole of last year, the company produced a total of 138 trucks, less than the 258 it made in 2022. It reported a total revenue of $35.8 million for the period and a gross loss of $214.1 million, higher than the $86 million it reported for 2022.

The company is yet to resume deliveries of its battery electric vehicles since it was paused last year following several fire incidents and a subsequent recall.

Price Action: Nikola shares closed 11.7% higher at $0.91 on Wednesday. The stock is up 9.53% year-to-date, according to Benzinga Pro.

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