- Nikola Corp NKLA and TC Energy Corp TRP have signed a strategic collaboration to co-develop large-scale hydrogen production hubs in the U.S. and Canada.
- The hubs are expected to produce 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.
- Nikola's Energy business unit and TC Energy actively collaborate to identify and develop projects to establish the infrastructure needed to deliver low-cost and low-carbon hydrogen.
- In addition, Nikola and TC Energy plan to evaluate opportunities to optimize excess hub supplies to third parties under a joint marketing and services arrangement.
- Price Action: NKLA shares closed higher by 4.51% at $10.67 on Thursday.
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