Nikola Corporation and Voltera Corporation Form Definitive Strategic Alliance for Hydrogen Fueling Stations Financing, Potentially Supporting Up to 50 Stations
Nikola and Voltera Partner to Build North America's Largest Hydrogen Refueling Network
Nikola Corporation and Voltera have joined forces in a strategic partnership aimed at revolutionising the transportation industry in North America. The collaboration will see the development of up to 50 hydrogen fueling stations, branded as Hyla, over the next five years.
This partnership supports Nikola’s plans to expand its hydrogen-powered trucking operations. The network of refueling stations, strategically located across the continent, will provide essential hydrogen refueling points that will enable broader adoption of Nikola’s hydrogen Class 8 trucks.
As an infrastructure developer, Voltera is responsible for deploying and operating the hydrogen fueling stations. Voltera's team brings deep experience in deploying charging assets and proven critical infrastructure expertise. The company has equity backing from EQT and plans to invest several billion dollars into EV charging and hydrogen fueling facilities.
Nikola will supply the hydrogen fuel and provide technical expertise. Matt Horton, CEO of Voltera, stated that Voltera's expertise in building out zero-emission energy infrastructure will be key for Nikola's first-to-market hydrogen fuel cell electric trucks and fueling infrastructure.
Carey Mendes, President of Nikola Energy, stated that the partnership will bring substantial capital and expertise to support Nikola's infrastructure plans. He also mentioned that, despite his recent resignation, the partnership with Voltera continues as Nikola advances its hydrogen infrastructure plans.
Both companies share a commitment to the rapid deployment of infrastructure, which is key to enabling the transition to a zero-emission economy. Voltera sites, builds, owns, and operates strategically located, fit-for-purpose EV charging and hydrogen fueling facilities. The partnership will accelerate the deployment of several billion dollars Voltera plans to invest into EV charging and hydrogen fueling facilities.
Voltera, founded in 2022, primarily develops EV charging infrastructure but is expanding into hydrogen fueling networks. The investment in infrastructure is critical since hydrogen-powered trucks require sufficient fueling points for operational efficiency and driver confidence.
Nikola Corporation, headquartered in Phoenix, Arizona, was founded in 2015 and is globally transforming the transportation industry, designing and manufacturing zero-emission battery-electric and hydrogen-electric vehicles, among other products. The partnership will enable mass adoption of hydrogen trucks by reducing barriers for operators buying vehicles at scale.
The partnership will be officially announced on May 2, 2023, in Phoenix and Anaheim.
References:
- Voltera
- Nikola Corporation
- Nikola's hydrogen fueling stats
- The partnership betweenVoltera and Nikola Corporation will see substantial investment in technology, particularly in the development of EV charging and hydrogen fueling facilities, as part of their joint commitment to environmental-science and the transition to a zero-emission economy.
- In addition to the collaboration on hydrogen fueling stations, Nikola Corporation will supply the hydrogen fuel and provide technical expertise, leveraging its position in the science and technology sectors to drive innovation in the transportation industry.
- The strategic location of these hydrogen refueling stations, when combined with Nikola's hydrogen-powered trucks, will not only serve the needs of the transportation industry but also contribute to the long-term sustainability goals of North America, aligning with the focus on energy conservation and finance for a greener future.
