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