The Arizona startup’s trading debut is a high-profile bet that the elemental fuel can finally crack the transportation market.
to help it produce 40,000 kilograms of hydrogen a day from water and renewable electricity. "These electrolyzers will support five heavy duty hydrogen stations which will cover multiple states and trucking routes,” Milton said in a statement. He declined to tellwhere those first stations will be built, though undoubtedly some will be in California, which has incentives for non-polluting trucks to help curb carbon emissions.
Fuel cell technology, which makes electricity in a chemical reaction involving hydrogen and oxygen with only water vapor as a byproduct, has been around since the 1960s, but earlier iterations were far too costly and not durable enough for heavy daily use. That’s changed dramatically in the past decade, with costs for the materials and fuel tanks dropping steadily as the technology matured.
And while Nikola’s hydrogen truck and fuel plans are the most ambitious, it faces competition in the space from big players including Hyundai Motor and Toyota Motor Corp. Toyota has been testing hydrogen fuel cell trucks at the Port of Los Angeles for years and Hyundai this week opened
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