- TC Energy (TRP) and Nikola have signed a joint development agreement for large-scale clean hydrogen hubs
- The U.S. and Canadian facilities will produce 150 tonnes or more of hydrogen per day to supply Nikola’s forthcoming electric vehicles
- The partnership hopes to jumpstart hydrogen and electric vehicle adoption across industrial sectors
- Nikola Corporation designs and manufactures zero-emission battery-electric and hydrogen-electric vehicles and associated components
- TC Energy is a leading energy provider across Canada, the U.S. and Mexico
- TC Energy (TRP) is up by 0.52 per cent and is currently trading at $61.52 per share
TC Energy (TRP) and Nikola have signed a joint development agreement for large-scale clean hydrogen hubs.
The companies will co-develop, construct, operate and own the low-cost hydrogen production facilities in the U.S. and Canada.
The objective is to produce 150 tonnes or more of hydrogen per day to serve Nikola’s Class 8 fuel cell electric vehicles within the next five years.
The partnership intends to accelerate the adoption of hydrogen and heavy-duty zero-emission FCEVs across industrial sectors.
TC Energy will likely make use of its extensive pipeline, storage and power assets to increase the hubs’ efficiency.
Potential avenues to reducing the project’s carbon intensity include renewable energy, low-cost natural gas, renewable natural gas and biomass feedstocks paired with carbon capture and storage.
Pablo Koziner, Nikola’s President, Energy and Commercial, stated,
“We are excited to have a strategic partnership with a North American energy leader focused on delivering low-carbon and hydrogen-based energy solutions. TC Energy offers pipeline distribution capabilities that will be essential for the cost-efficient movement of hydrogen in the future.
Today marks a major step by Nikola in accordance with its stated energy strategy for the provision of hydrogen fuel solutions to future Nikola FCEV customers and to public network fueling stations.”
Corey Hessen, TC Energy’s Senior Vice President and President, Power and Storage, added,
“By leveraging our natural gas and power operations footprint, we see this new partnership as an important first step in facilitating access to affordable low-carbon production of hydrogen for the transportation and industrial sector.
TC Energy is focused on our own decarbonization efforts as well as being the provider of choice for carbon-free energy to the North American industrial, natural gas and oil sectors. Nikola as a partner and as a customer aligns well with that approach.”
Nikola Corporation designs and manufactures zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems and hydrogen station infrastructure.
TC Energy is a leading energy provider across Canada, the U.S. and Mexico.
TC Energy (TRP) is up by 0.52 per cent and is currently trading at $61.52 per share as of 9:30 am ET.