Fuel Cell semi used combination of hydrogen and electrochemical batteries.

Nikola, IVECO and OGE Announce Intent to Accelerate the Deployment of Hydrogen Infrastructure and Fueling Solutions

The collaboration is expected to enable cost-effective distribution of hydrogen from production to storage and fueling locations in Germany to serve industry needs


SOURCE: Nikola Corporation

ULM, Germany– April 14, 2021 -- Nikola Corporation (NASDAQ: NKLA), IVECO and OGE today announced they have entered into a letter of intent for a collaboration to establish a business structure for transporting hydrogen via pipeline network from production sources to hydrogen fueling stations in support of fuel-cell electric vehicles (FCEVs). The collaboration is being launched with the intent to further define and formalize the roles and responsibilities of the parties and the required collaboration governance to enable execution of objectives to be stated in definitive agreements.

IVECO, a brand of CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) and a pioneer in the commercialization and manufacture of vehicles powered by alternative fuels, and OGE, an owner and operator of a 12,000 km natural gas pipeline infrastructure network in Germany, will join Nikola, a leading designer and manufacturer of heavy-duty commercial battery-electric vehicles, FCEVs and energy infrastructure solutions, in advancing hydrogen infrastructure to enable progress and growth of FCEVs in alignment with European policy and industry needs. The primary focus of this collaboration is to further develop hydrogen fueling solutions in Germany in support of the European commercial transportation system and to work with industry partners to install safe, reliable and cost-effective storage and fueling locations for FCEVs.

The parties are committed to the development of a hydrogen economy and are focused on implementing the necessary refueling and distribution infrastructure to deliver hydrogen to commercial truck owners safely, reliably and economically.

"Nikola is committed to delivering and advancing industry-leading hydrogen production, distribution and supply," said Nikola's President of Energy and Commercial Pablo Koziner. "We believe this collaboration, in particular, presents a very compelling long-term fueling distribution solution that we expect to advance industry and overall market adoption of FCEV technologies."

"The ecosystem of transport will transform and current business models along the value chain will change with the introduction of hydrogen and battery-powered heavy-duty trucks," said Gerrit Marx, President Commercial & Specialty Vehicles, CNH Industrial. "Our collaboration is a great first step in starting up a growing platform of partnerships to make this a reality here in Europe, which requires entrepreneurial and non-linear thinking across fossil industrial structures."

"OGE is committed to establishing a pipeline infrastructure to transport hydrogen from production sources to critical exit points of distribution," said Dr. Thomas Huwener, OGE's Chief Technical Officer. "We are proud to play an essential role in enabling fueling station development through our network capabilities and in working towards decarbonizing the economy."

ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter nikolamotor.

ABOUT IVECO
IVECO is a brand of CNH Industrial N.V., a world leader in capital goods listed on the New York Stock Exchange (NYSE: CNHI) and on the Mercato Telematico Azionario of the Borsa Italiana (MI: CNHI). IVECO designs, manufactures and markets a wide range of light, medium and heavy commercial vehicles, off-road trucks, and vehicles for applications such as off-road missions.

The brand's wide range of products include the Daily, a vehicle that covers the 3.3 – 7.2 tonne vehicle weight segment, the Eurocargo from 6 – 19 tonnes and, in the heavy segment above 16 tonnes, the Trakker (dedicated to off-road missions) and the IVECO WAY range with the on-road IVECO S-WAY and the IVECO X-WAY for light off-road missions. In addition, the IVECO Astra brand builds off-road trucks, rigid and articulated dumpers as well as special vehicles.

IVECO employs close to 21,000 individuals globally. It manages production sites in 7 countries throughout Europe, Asia, Africa, Oceania and Latin America where it produces vehicles featuring the latest advanced technologies. 4,200 sales and service outlets in over 160 countries guarantee technical support wherever an IVECO vehicle is at work. For further information about IVECO: www.IVECO.com

ABOUT OGE
OGE is one of the leading transmission system operators in Europe. With a pipeline network

First Published: 2021-04-14

Pages Viewed: 558

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