tiprankstipranks
Nikola and Fortescue Future Industries execute MOU for green hydrogen facilities
The Fly

Nikola and Fortescue Future Industries execute MOU for green hydrogen facilities

Nikola and Fortescue Future Industries, or FFI, have executed a memorandum of understanding, or MOU, to collaborate on and evaluate the co-development of large-scale U.S. green hydrogen production facilities. Supply of green hydrogen for any potential projects will be underpinned by Nikola as a potential offtaker, which has a large demand for green hydrogen in order to decarbonize the transportation sector and other industries. FFI’s significant experience and capabilities in hydrogen project development make it an ideal partner for Nikola in the potential development of this project. It is a global green energy company pursuing opportunities in more than 25 countries and a subsidiary of top ten ASX company Fortescue Metals Group. Under the terms of the MOU, Nikola will evaluate green hydrogen offtake opportunities from any other green hydrogen projects being pursued by FFI. The parties will also evaluate the potential co-development of new green hydrogen production and associated infrastructure projects.

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on NKLA:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles