December 22, 2024 1:21 am
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Nikola to sell trucks, buy hydrogen production system

By Jeff Gifford | Phoenix Business Journal

Zero-emissions vehicle maker Nikola Corp. is taking another step toward establishing a hydrogen hub in Arizona by signing an agreement with Plug Power, another public company dedicated to expanding hydrogen energy. 

Under the deal, Phoenix-based Nikola (Nasdaq: NKLA) will sell up to 75 of its Tre hydrogen fuel-cell electric vehicles over the next three years to Plug Power (Nasdaq: PLUG). In turn, Nikola will purchase a liquefaction system from Plug Power that will initially be capable of processing 30 metric-tons of hydrogen fuel per day. 

Read the full subscription story from the Phoenix Business Journal.

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