Nicola – TC Energy – Hydrogen Hubs – US and Canada

Under the agreement, the two companies plan to build plants in the United States and Canada and use the hydrogen fuel produced to power Nikola’s Class 8. Fuel cell Electric vehicles (FCEV) within the next 5 years.

The two companies said they are aiming to build a hub that produces more than 150 tonnes of hydrogen per day near a congested truck route. Calgary-based TCs can use their existing pipelines and stored assets to distribute hydrogen and transport carbon. Emissions From hydrogen production process to permanent storage.

TC is one of North America’s largest oil and gas pipeline companies and the developer of the failed Keystone XL project. As new fossil fuel pipelines face increasing environmental opposition, they have considered using existing infrastructure to pursue energy conversion opportunities.

“We believe this announcement will enhance the long-term value of TRP’s pipeline infrastructure and steel with the ability to reuse and support energy migration, especially in the current difficult regulatory environment of building new pipelines. “Masu,” said Benfam, an analyst at BMO Capital Markets. I said in a memo.

TC Energy shares rose 0.4% on the Toronto Stock Exchange to C $ 61.61. Nikola’s share price, based in Phoenix, Arizona, rose 0.6% to $ 10.91, up nearly 3% in early trading.

Last month, Nikola signed a contract with the German Bosch Group to manufacture Bosch fuel cell power modules for two trucks equipped with FCEV technology at a US automaker’s facility in Coolidge, Arizona.

Nicola, who was charged with deceiving investors by founder Trevor Milton lying to investors about the company’s products and technologies, forecasts annual deliveries in August due to supply chain issues. I halved it.

Nicola and TC Energy collaboratively develop hydrogen hubs in the US and Canada

Source: Nicola and TC Energy.


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