![]() ![]() The large-scale deployment of hydrogen as a zero-emission fuel into the transportation sector is expected to benefit from the hydrogen tax credit in the federal Inflation Reduction Act and state level incentives such as the Low Carbon Fuel Standard in California. “This is an exciting opportunity to work towards a fast-moving project that will lead the way in the U.S., creating new green industrial jobs for Americans, while also helping to reduce emissions once production begins.”įFI and Nikola will work toward a hydrogen supply agreement to support Nikola’s hydrogen fuel cell electric vehicle demand. We are committed to helping turn North America into a world-leading global green energy producer,” said FFI CEO, Mark Hutchinson. presence and strengthening its position as a leading global developer of green energy production and technology. PHH marks the first project announced as part of the Memorandum of Understanding signed in January 2023 between the two companies to collaborate on and evaluate the co-development of large-scale U.S. “FFI’s acquisition of this project is a significant milestone as we work to create an all-important local connective infrastructure to accelerate the use of hydrogen to fuel zero-emission vehicles.” “Nikola’s priority is to see more zero-emission trucks on the road and this acquisition by FFI will greatly strengthen one of the country’s first and most important hydrogen hubs,” said Nikola Corp. The project is expected to progress towards its first hydrogen production by the middle of this decade. The PHH is a green hydrogen project located near Phoenix, in the city of Buckeye, Ariz., and is expected to be built in phases to scale alongside demand. This agreement is fully aligned with Nikola’s capital efficient energy strategy to collaborate with partners interested in the hydrogen energy ecosystem that Nikola is pioneering. FFI will bring the capital and resources required to fully develop the project and the parties are working towards a hydrogen supply agreement to support Nikola’s Class 8 zero-emission trucks. Nikola Corp.’s HYLA brand and Fortescue Future Industries (FFI) have announced that FFI will acquire Nikola’s Phoenix Hydrogen Hub (PHH) project. ![]()
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