New hydrogen refueling partnership is good news for Nikola’s stock
December 22, 2023Nikola 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 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.
“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.
“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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Good luck, First Element stations for regular hydrogen cars are down most of the time and are inconsistent in operations. Also, fueling nozzles need to be upgraded, often you cannot remove nozzle for up to 30 minutes after fueling your car, sensors malfunction. Also, why is a east coast company in charge of running the west coast hydrogen stations?
By the way, the price of Hydrogen is $36 a kilogram for regular cars which in my opinion is a joke, costs you approximately $185 to go 300 miles. These are facts, I own a hydrogen car, and this is my experience with the system so far, way too expensive to be successful, need to lower the price of hydrogen to $24 a kilogram for hydrogen cars for starters to encourage the use of these cars, as it is now, I cannot afford to drive my hydrogen car!
That… is… shocking. You seem to have been one of the first adopters. I almost went there when I noticed that a local gas station had newly installed a hydrogen pump. But it “broke” soon after.
What do you think about the use of green hydrogen when supplied to trucks, trains, boats, steel, and fertilizers etc. Rather than invest in a car would you be more optimistic about its use in industrialized transportation/production? It looks like cars and vans are all going with the rechargeable battery.
The Southern San Joaquin Valley in California has the dirties air in the USA, 55,000 Diesel Trucks pass through Fresno and Bakersfield daily spewing tons of GHG Emissions. H2 is a solution but without major government incentives, this is some politicians Pipe Dream. The projected cost to build a Green Hydrogen Facility to produce 25,000 kg. of H2 is one billion dollars and 1,000 acres of solar panels. Politicians are already putting new Rules and Regulations in place to slow down the process and increase tax revenues to California. The industry tries to move forward and the politicians continue to push back on their own mandates to clean up the environment. H2 is amazing and will help clean the air but the politicians and bureaucrats need to get out of the way of the inventors and industrialist and make hydrogen fuel cell trucks a reality.