New hydrogen refueling partnership is good news for Nikola’s stock

New hydrogen refueling partnership is good news for Nikola’s stock

December 22, 2023 3 By Bret Williams

Nikola and FirstElement Fuel have teamed up for a decade-long strategic partnership.

The aim of the 10-year partnership forged between the two hydrogen companies is to advance hydrogen refueling infrastructure, by making FirstElement Fuel (FEF) the authorized Fueling Solutions Partner for Nikola Class 8 hydrogen fuel cell trucks. When this announcement broke on Wednesday, Nikola Corp.’s stock was up by 4.7%.

The partnership will see Nikola’s hydrogen trucks refuel at FEF’s H2 station in Oakland.

The collaboration between Nikola and FirstElement Fuel unifies both companies’ dedication to drive the widespread adoption of hydrogen fuel cell electric vehicles (FCEVs). Additionally, it marks a significant step toward a greener and more sustainable future.

Specifically, under the partnership, Nikola customers can access fueling services at the new FEF multi-use heavy-duty truck hydrogen refueling station. This station has been built in a strategic location near the port in Oakland, California.

The expectation is that an estimated 200 trucks will be refueled per day at the station. Additionally, the H2 station, which features FirstElement Fuel’s propriety design, will have the first heavy-duty truck H70 fast-fill lane in the world. This world-first fast-fill lane supposedly delivers efficient hydrogen refueling.

Additional hydrogen refueling stations have been planned.

FirstElement Fuel is currently working on installing multiple hydrogen refueling stations that can fast-fill Class 8 trucks. The strategic partnership with Nikola will help FEF to deliver on its commitment to build hydrogen infrastructure to serve transportation hubs in regions where clean solutions are needed, at a faster rate.

Hydrogen refueling of Nikola H2 Truck - PNMC5146 - Image Source - Nikola

Hydrogen refueling of Nikola Class 8 Hydrogen Fuel Cell Electric Truck- Image Source: Nikola

“FirstElement is a recognized leader in hydrogen vehicle fueling in California, and the Nikola team is inspired by the immense possibilities created by this agreement,” Nikola President of Energy, Joe Cappello, said in a company news release.Memory test

“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.”

Transforming the transportation industry.

hydrogen news ebook“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,” commented Founder and Executive Chairman of FirstElement Fuel, Joel Ewanick.

Presently, California leads the way in lowering carbon emissions, particularly in high-traffic ports. Nikola’s hydrogen trucks play a critical role in advancing the state’s initiatives. FEF’s hydrogen refueling station and partnership with Nikola underscores their commitment to meet California’s federal zero-emission goals.

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