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Plug and Nikola Announce Collaboration to Push Hydrogen Economy Forward
Companies enter into a Green Hydrogen Supply Agreement. Plug will be supplying green hydrogen to Nikola starting in 2023, and ramping up to a 125 TPD
About this update from Plug Power, Inc.
[{"type":"text","content":"Companies enter into a Green Hydrogen Supply Agreement. Plug will be supplying green hydrogen to Nikola starting in 2023, and ramping up to a 125 TPD take-or-pay commitment as Plug’s green hydrogen network continues to come online. Nikola to purchase a 30 TPD liquefaction system from Plug for its Arizona Hydrogen Hub Plug to purchase up to 75 Nikola Tre FCEVs over the next three years Emphasizes Plug’s commitment to sustainability by driving down greenhouse gas emissions within the hydrogen ecosystem LATHAM, N.Y., Dec. 15, 2022 (GLOBE NEWSWIRE) -- Plug Power (Nasdaq: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, and Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, today announced a strategic relationship focused on moving the hydrogen economy forward. Plug and Nikola have executed a Green Hydrogen Supply Agreement. Plug will be supplying green hydrogen to Nikola starting January 1, 2023, with volumes ramping up to 125 tons per day (TPD) as Plug’s green hydrogen production network continues to come online. The agreement anticipates 125 TPD volume by the end of 2026, with 80% under a take-or-pay contract. Nikola has awarded Plug the contract to provide one 30 TPD hydrogen liquefaction system for Nikola's recently announced Arizona hydrogen hub. The Plug designed, engineered and manufactured liquefaction system is for the first phase of Nikola's Arizona hydrogen hub, with a potential to scale up to 150 TPD. Nikola plans to provide access of up to 300 TPD of hydrogen supply and up to 60 hydrogen dispensing stations by 2026. Nikola’s Arizona hub is currently going through the permitting and rezoning process, and procurement of long-lead equipment is underway. Plug’s hydrogen liquefaction system has one of the most energy-efficient and cost-effective designs on the market, utilizing hydrogen as the refrigerant in the main liquefaction cycle. “Nikola and Plug share a common vision for sustainable, efficient, energy solutions which supports our commitment to decarbonize the transportation industry,” said Nikola President, Energy, Carey Mendes. “This strategic relationship will help underpin Nikola’s ambitious growth plans to expand the hydrogen energy business and to support the adoption of Nikola’s zero-em...