Nikola, Plug Power partner for green hydrogen development

Nikola (NKLA) and Plug Power (PLUG) announced a strategic relationship focused on moving the hydrogen economy forward. The Nikola Tre fuel-cell electric vehicle – FCEV – is a hydrogen-powered cabover for longer or continuous metro-regional applications and is expected to have a range of up to 500 miles. Plug will purchase up to 75 Nikola Tre FCEVs over the next three years, with the first trucks being delivered in 2023. The acquired FCEVs will be paired with Plug’s liquid hydrogen tankers. Nikola’s hydrogen hub project in Buckeye, Ariz., is currently going through a permitting and rezoning process. Plug has been selected to provide its fully integrated liquefaction system for the project which will be engineered to produce 30 metric-tons per day in its first phase, scaling up to 150 metric-tons per day. The companies have also executed a 125 metric-tons per day Green Hydrogen Supply Agreement. This green hydrogen supply and offtake partnership is expected to provide Nikola with a minimum of 100 metric-tons per day of hydrogen, with the option to increase volume over time. The Nikola Tre battery-electric vehicle, with a range of up to 330 miles, started serial production in March 2022.