RTTNews | Oct 7, 2021 08:41AM EDT

08:41 Thursday, October 7, 2021 (RTTNews.com) - Energy firms Nikola Corp. (NKLA) and TC Energy Corp. (TRP.TO) announced Thursday that they have agreed to collaborate on co-developing, constructing, operating and owning large-scale hydrogen production facilities (hubs) in the U.S. and Canada.

Nikola's Energy business unit and TC Energy are actively collaborating to identify and develop projects to establish the infrastructure required to deliver low-cost and low-carbon hydrogen at scale in line with each company's core objectives.

Furthermore, Nikola and TC Energy desire to accelerate the adoption of heavy-duty zero-emission fuel cell electric vehicles (FCEVs) and hydrogen across industrial sectors by establishing hubs in key geographic locations.

A key objective of the collaboration is to establish hubs producing 150 tonnes or more of hydrogen per day near highly traveled truck corridors to serve Nikola's planned need for hydrogen to fuel its Class 8 FCEVs within the next five years.

This collaboration is positioned to leverage and optimize TC Energy's existing asset footprint with access to advantaged renewable energy, biomass and natural gas feedstocks.

Both Nikola and TC Energy are committed to reducing the carbon intensity (CI) of hydrogen produced and delivered to end-use markets utilizing renewable energy, as well as low-cost natural gas, renewable natural gas and biomass feedstocks paired with carbon capture and storage.

Nikola and TC Energy will evaluate opportunities to optimize excess hub supplies to third parties under a joint marketing and services arrangement.

Read the original article on RTTNews ( https://www.rttnews.com/3231186/nikola-tc-energy-ink-deal-to-co-develop-large-scale-clean-hydrogen-hubs-quick-facts.aspx)

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