NKLA - Nikola signs hydrogen station infrastructure deal with Voltera
2023-05-02 08:36:14 ET
Nikola ( NASDAQ: NKLA ) announced a new agreement with infrastructure specialist Voltera to support the company's deployment of its innovative zero-emissions vehicles.
Through the strategic partnership agreement, Nikola and Voltera plan to develop up to 50 HYLA stations throughout North America over the next five years. This partnership is said to underpin Nikola's ( NKLA ) prior announced plans to develop 60 stations by 2026.
The partnership will see Nikola ( NKLA ) and Voltera create the largest North American open-network of commercial hydrogen refueling stations, providing fuel to vehicles from various manufacturers to accelerate the adoption of zero-emission vehicles. Voltera will build, own, and operate the strategically located, fit-for-purpose hydrogen refueling stations - while Nikola will supply the hydrogen fuel and provide technical expertise.
The partnership is expected to accelerate the deployment of the several billion dollars Voltera plans to invest into EV charging and hydrogen fueling facilities.
Shares of Nikola ( NKLA ) moved up 2.05% in premarket trading on Tuesday.
More on Nikola:
- Read the latest breakdowns on Nikola from Seeking Alpha analysts
- View the growth metrics
- See the financial and valuation comparisons to sector peers
- Dig into the Seeking Alpha Quant Rating
For further details see:
Nikola signs hydrogen station infrastructure deal with Voltera