FirstElement Fuel named authorized Fueling
Solutions Partner for Nikola Class 8
hydrogen fuel cell electric trucks
PHOENIX, Dec. 20,
2023 /PRNewswire/ -- Nikola Corporation (Nasdaq:
NKLA), a global leader in zero-emissions transportation and energy
supply and infrastructure solutions, via the HYLA brand, and
FirstElement Fuel (FEF), a world leader in hydrogen refueling
station solutions, have formalized a definitive 10-year agreement
to refuel Nikola's hydrogen fuel cell electric truck at FEF's
hydrogen refueling station in Oakland,
Calif. This collaboration unifies their commitment to
driving the widespread adoption of hydrogen fuel cell electric
vehicles and marks a significant step towards a greener and more
sustainable tomorrow.
![Nikola Corporation Logo (PRNewsfoto/Nikola Corporation) Nikola Corporation Logo (PRNewsfoto/Nikola Corporation)](https://mma.prnewswire.com/media/1431805/Nikola_Corporation_Logo.jpg)
Under this strategic partnership, FEF is appointed as an
authorized Nikola Fueling Solutions Partner. This collaboration
enables Nikola customers to access fueling services at the new FEF
multi-use heavy-duty truck station situated strategically near the
port in Oakland, Calif. The
station, which uses FEF's proprietary design, anticipates a fueling
capacity of approximately 200 trucks per day, and will boast the
world's first heavy-duty truck H70 fast-fill lane for efficient
hydrogen refueling. The station received funding from the
California Energy Commission under the NorCal Zero Project. This
agreement aligns seamlessly with Nikola's initial truck launch
strategy, concentrating on the deployment of its zero-emissions
trucks in areas adjacent to Maritime Ports throughout Calif. and
serves as the first of many partner stations to come.
"FirstElement Fuel is a recognized leader in hydrogen vehicle
fueling in California, and the
Nikola team is inspired by the immense possibilities created by
this agreement," said Nikola
President of Energy, Joe
Cappello. "Our customers now have access to fuel at FEF's
first heavy-duty site in Oakland,
California. With additional stations planned, this signifies
a powerful synergy between Nikola and FEF, driving us towards a
shared vision of a future with cleaner and more sustainable
solutions."
The Oakland station's fast-fill lane is a prime example of the
synergies between Nikola's advanced truck technology as well as
FEF's station capabilities and demonstrates Nikola's commitment to
enabling the adoption of hydrogen fuel cell electric vehicles in
Northern Calif. Nikola plans to utilize several paths to achieve a
network of up to 60 stations in the coming years, including mobile
and permanent HYLA branded stations, customer-owned stations,
and new and established public truck stops via Nikola's fueling
station partner network. Two fueling solutions locations are slated
by the end of 2023 — one HYLA branded fueling station in
Ontario, Calif. and the FEF
Oakland location. Several additional fueling solutions locations
are planned by the close of Q2 2024.
Nikola's broader strategy involves working with industry-leading
partners to ensure a robust hydrogen supply chain, transport
logistics, storage solutions, and dispensing locations. As Nikola
previously announced, enough energy offtake has been secured to
support customer operations through the beginning of 2024. The team
is actively working to secure additional hydrogen offtake for
future sales while continuing to develop the refueling
ecosystem.
"This collaboration is a testament to our commitment to
transform the transportation industry and we are proud to play a
role in powering Nikola's innovative hydrogen fuel cell electric
trucks," said Joel Ewanick, Founder
and Executive Chairman of FEF. "We are confident the synergy
between our shared expertise and vision will help to reshape the
landscape of clean and sustainable transportation, driving towards
a future powered by hydrogen."
California leads the charge in
reducing carbon emissions, especially in high-traffic ports, with
Nikola's Class 8 hydrogen fuel cell electric truck playing a
crucial role in advancing these initiatives. This station and
partnership underscore Nikola and FEF's commitment to meeting state
and federal zero-emission goals. The deployment of refueling
infrastructure is pivotal to the energy transition, and the
strategic placement of the FEF station in Oakland marks a significant milestone in this
joint mission.
FEF is in the process of installing a number of hydrogen
refueling stations capable of fast-filling for Class 8 trucks. This
strategic initiative with Nikola will enable an acceleration of
FEF's commitment to building hydrogen infrastructure to serve
transportation hubs in areas where clean solutions are
imperative.
Nikola plans to develop a series of new hydrogen fueling
locations under the brand name HYLA throughout Southern Calif. in
the coming months followed by Northern Calif. to support the recent
launch of the Nikola hydrogen fuel cell electric truck.
Supplementing these stations will be a network of hydrogen fueling
solution partners that will create additional hydrogen fueling
opportunities for Nikola customers. The combination of these
hydrogen fueling options will help facilitate the adoption of
hydrogen fuel cell electric trucks and the decarbonization of
transportation.
ABOUT NIKOLA CORPORATION
Nikola Corporation's mission
is clear: pioneering solutions for a zero-emissions world. As an
integrated truck and energy company, Nikola is transforming
transportation and over-the-road freight services. With our Class 8
vehicles, including battery-electric and hydrogen fuel cell
electric trucks, and our energy brand, HYLA, we are driving the
advancement of the complete hydrogen refueling ecosystem. This
encompasses supply, distribution, and dispensing, reflecting our
commitment to sustainable practices and a cleaner future.
Nikola is based in Phoenix,
Arizona with a manufacturing facility in Coolidge, Arizona.
Experience our journey to achieve your sustainability goals
at nikolamotor.com or engage with us on social media
via Facebook @nikolamotorcompany,
Instagram @nikolamotorcompany,
YouTube @nikolamotorcompany,
LinkedIn @nikolamotorcompany or
Twitter @nikolamotor.
ABOUT FIRSTELEMENT FUEL
FirstElement Fuel Inc. (FEF or
the "Company") is a California-based company established in
2013 to provide safe, reliable, retail hydrogen to customers of
hydrogen-powered vehicles. The Company is the world leader in
hydrogen refueling station solutions, with facilities in
Irvine, Santa Ana, and Livermore, CA. FEF has 41 retail light-duty
stations throughout California and
is developing a network of stations to serve Heavy Duty Trucks
powered by hydrogen, starting with the world's first high-flow
refueling station in Oakland, CA
as part of a joint project with the California Air Resources Board
and the California Energy Commission. Over the past 10 years
since FEF's founding, the Company has partnered with public
organizations including the California Energy Commission, the South
Coast Air Quality Management District, the Bay Area Air Quality
Management District, and the Sacramento Municipal Air Quality
Management District which have also provided funding. Private
partnerships have included those with Mitsui & Co, Air Water
Inc., Honda Motor Company, Toyota Motor Corporation, MUFG, the
Japan Bank of International Cooperation, Nikisso Company, and Air
Liquide., all of which have provided funds to FEF in pursuit of the
vision of a zero-emissions transportation future.
FORWARD LOOKING STATEMENTS
This press release contains
certain forward-looking statements within the meaning of federal
securities laws with respect to Nikola Corporation (the "Company"),
including statements relating to: the Company's beliefs regarding
the benefits of the stated partnership between Nikola and FEF; the
ability to scale and secure a position as a pioneer in the hydrogen
refueling ecosystem; the anticipated widespread adoption of
hydrogen fuel vehicles; whether this partnership is significant
step towards a greener and more sustainable future; the ability of
FEF's fueling technology to rapidly fill approximately 200 trucks a
day; FCEV truck's ability to meet is range and fueling time
targets;; the benefits of various government incentives in Calif.;
the ability to meet the hydrogen fueling demands of Company
customers; and the ability to realize the benefits of certain
awards or partnerships to help create an network of commercial
hydrogen refueling stations. These forward-looking statements
generally are identified by words such as "believe," "project,"
"expect," "anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," and
similar expressions. Forward-looking statements are predictions,
projections, and other statements about future events based on
current expectations and assumptions and, as a result, are subject
to risks and uncertainties. Many factors could cause actual future
events to differ materially from the forward-looking statements in
this press release, including but not limited to the factors, risks
and uncertainties regarding the Company's business described in the
"Risk Factors" section of the Company's quarterly report on Form
10-Q for the quarter ended September 30,
2023 filed with the SEC, in addition to the Company's
subsequent filings with the SEC. These filings identify and address
other important risks and uncertainties that could cause the
Company's actual events and results to differ materially from those
contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and, except as required by law, the Company assumes no obligation
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
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