Nikola, IVECO and OGE Announce Intent to Accelerate the Deployment of Hydrogen Infrastructure and Fuelling Solutions
Thursday 15th April 2021
ULM, Germany– April 14, 2021 -- Nikola Corporation (NASDAQ: NKLA), IVECO and OGE today announced they have enteredinto a letter of intent for a collaboration to establish a business structure for transporting hydrogen via pipeline networkfrom production sources to hydrogen fuelling stations in support of fuel-cell electric vehicles (FCEVs). The collaboration isbeing launched with the intent to further define and formalize the roles and responsibilities of the parties and the required collaboration governance to enable execution of objectives to be stated in definitive agreements.
IVECO, a brand of CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) and a pioneer in the commercialization and manufacture of vehicles powered by alternative fuels, and OGE, an owner and operator of a 12,000 km natural gas pipeline infrastructurenetwork in Germany, will join Nikola, a leading designer and manufacturer of heavy-duty commercial battery-electricvehicles, FCEVs and energy infrastructure solutions, in advancing hydrogen infrastructure to enable progress and growth of FCEVs in alignment with European policy and industry needs. The primary focus of this collaboration is to further develophydrogen fuelling solutions in Germany in support of the European commercial transportation system and to work withindustry partners to install safe, reliable and cost-effective storage and fuelling locations for FCEVs.
The parties are committed to the development of a hydrogen economy and are focused on implementing the necessaryrefuelling and distribution infrastructure to deliver hydrogen to commercial truck owners safely, reliably and economically.
”Nikola is committed to delivering and advancing industry-leading hydrogen production, distribution and supply,” said Nikola'sPresident of Energy and Commercial Pablo Koziner. “We believe this collaboration, in particular, presents a very compellinglong-term fuelling distribution solution that we expect to advance industry and overall market adoption of FCEVtechnologies.”
“The ecosystem of transport will transform and current business models along the value chain will change with theintroduction of hydrogen and battery-powered heavy-duty trucks,” said Gerrit Marx, President Commercial & SpecialtyVehicles, CNH Industrial. “Our collaboration is a great first step in starting up a growing platform of partnerships to makethis a reality here in Europe, which requires entrepreneurial and non-linear thinking across fossil industrial structures.“
“OGE is committed to establishing a pipeline infrastructure to transport hydrogen from production sources to critical exitpoints of distribution,” said Dr. Thomas Hüwener, OGE’s Chief Technical Officer. “We are proud to play an essential role inenabling fuelling station development through our network capabilities and in working towards decarbonizing theeconomy.”