PHOENIX, Aug. 12, 2021 /PRNewswire/ -- Nikola Corporation
(NASDAQ: NKLA), a leading designer and manufacturer of heavy-duty
commercial battery-electric vehicles (BEV), fuel-cell electric
vehicles (FCEV) and energy infrastructure solutions, today
announced that they have been awarded an approximate $2 million grant from the U.S. Department of
Energy to advance its research into autonomous refueling
technologies for future hydrogen fueling stations.
Autonomous fueling is part of the industry's effort to ensure
fast, efficient, and safe fueling of a large onboard storage system
to be less than 20 minutes for heavy-duty vehicles. This project is
expected to address this goal by working to develop an autonomous
fueling system that can rapidly refuel heavy-duty fuel-cell
electric trucks, while minimizing labor and challenges relating to
ergonomics and maintenance of equipment, as compared to an
equivalent manual fueling process.
"This funding is essential to advance key hydrogen fueling
technologies that can improve the overall efficiency of fuel-cell
commercial vehicles, while maintaining the safety and reliability
standards required," said Pablo
Koziner, president, Energy and Commercial, Nikola. "The work
we are doing with the Department of Energy and our partners on
fueling technology is part of Nikola's wholistic approach to the
hydrogen ecosystem; supplementary to our work on heavy-duty
vehicles, infrastructure, and energy solutions."
The grant is funded by the US Department of Energy's Energy
Efficiency and Renewable Energy (EERE) Transportation Office under
the recently announced Hydrogen and Fuel Cells R&D FY2021 FOA
(#HydrogenNow).
Nikola is committed to designing and building hydrogen fueling
stations, as well as helping to develop, test, and standardize
fueling hardware to facilitate the widespread adoption of
heavy-duty fuel-cell electric trucks.
ABOUT NIKOLA CORPORATION:
Nikola Corporation is globally transforming the transportation
industry. As a designer and manufacturer of zero-emission
battery-electric and hydrogen-electric vehicles, electric vehicle
drivetrains, vehicle components, energy storage systems, and
hydrogen station infrastructure, Nikola is driven to revolutionize
the economic and environmental impact of commerce as we know it
today. Founded in 2015, Nikola Corporation is headquartered in
Phoenix, Arizona. For more
information, visit www.nikolamotor.com or Twitter @nikolamotor.
FORWARD LOOKING STATEMENTS
Certain statements included in this press release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "believe," "may," "will," "estimate,"
"continue," "anticipate," "intend," "expect," "should," "would,"
"plan," "predict," "potential," "seem," "seek," "future,"
"outlook," and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to,
statements regarding the potential benefits of the grant in the
development of autonomous refueling technologies; the company's
expectations regarding its business, business model and strategy;
the company's expectations for its trucks and market acceptance of
electric trucks, both BEV and FCEV; and market opportunity. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of Nikola's management and are not predictions of actual
performance. Forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements, including but not
limited to, design and manufacturing changes and delays; failure to
realize the anticipated benefits of the definitive agreements;
general economic, financial, legal, regulatory, political and
business conditions and changes in domestic and foreign markets;
the potential effects of COVID-19; the outcome of legal, regulatory
and judicial proceedings to which Nikola is, or may become a party;
demand for and customer acceptance of Nikola's trucks; risks
associated with development and testing of fuel cell power modules
and hydrogen storage systems; risks related to the rollout of
Nikola's business and the timing of expected business milestones;
the effects of competition on Nikola's future business; the
availability of capital; risks associated with changes in
accounting treatment or accounting standards; and the other risks
detailed from time to time in Nikola's reports filed with the
Securities and Exchange Commission, including its annual report on
Form 10-Q for the quarter ended June 30,
2021 and other documents Nikola files with the SEC. If any
of these risks materialize or our assumptions prove incorrect,
actual results could differ materially from the results implied by
these forward-looking statements. These forward-looking statements
speak only as of the date hereof and Nikola specifically disclaims
any obligation to update these forward-looking statements.
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SOURCE Nikola Corporation