NKLA - Nikola Fortescue Future Industries to collaborate on U.S. green hydrogen production

January, 24 2023 05:11 PM Nikola Corporation

Nikola ( NASDAQ: NKLA ) on Tuesday said it would work with Fortescue Future Industries (FFI) to co-develop U.S. green hydrogen production facilities.
As per the memorandum of understanding (MoU) signed between the two companies, NKLA will evaluate green hydrogen offtake opportunities from projects being pursued by FFI.
"The parties will also evaluate the potential co-development of new green hydrogen production and associated infrastructure projects," NKLA said in a statement .
Financial details of the MoU were not disclosed.
FFI is a green energy company producing green hydrogen. It is a unit of major Australian miner Fortescue Metals Group ( OTCQX:FSUMF ) ( OTCQX:FSUGY ).
Nikola ( NKLA ) stock was up 1.1% to $2.64 after hours.

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