In Arizona, Nikola Corporation and Fortescue Future Industries (FFI), announced that FFI will acquire Nikola’s Phoenix Hydrogen Hub (PHH) project.
FFI will bring the capital and resources required to fully develop the project and the parties are working towards a hydrogen supply agreement to support Nikola’s Class 8 zero-emission trucks.
The PHH is a green hydrogen project located near Phoenix and is expected to be built in phases to scale alongside demand. The project is expected to progress towards its first hydrogen production by the middle of this decade.
“Nikola’s priority is to see more zero-emission trucks on the road and this acquisition by FFI will greatly strengthen one of the country’s first and most important hydrogen hubs,” said Nikola Corporation President and CEO, Michael Lohscheller. “FFI’s acquisition of this project is a significant milestone as we work to create an all-important local connective infrastructure to accelerate the use of hydrogen to fuel zero-emission vehicles.”
PHH marks the first project announced as part of the Memorandum of Understanding signed in January 2023 between the two companies to collaborate on and evaluate the co-development of large-scale U.S. green hydrogen production facilities.
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