PHOENIX AND WEST TERRE HAUTE, IND, June 22, 2021 – Nikola Corporation (NASDAQ:NKLA), a global leader in zero-emissions transportation and infrastructure solutions, and Wabash Valley Resources LLC (WVR) announced today that Nikola is investing $50 million in cash and stock in exchange for a 20% equity interest in the clean hydrogen project being developed in West Terre Haute, Ind. The project plans to use solid waste byproducts such as petroleum coke combined with biomass to produce clean, sustainable hydrogen for transportation fuel and base-load electricity generation while capturing CO2 emissions for permanent underground sequestration. Once completed, the project is expected to be one of the largest carbon capture and clean hydrogen production projects in the United States. The focus is to produce zero-carbon intensity hydrogen with the potential to develop negative carbon intensity hydrogen in the future.
- Hydrogen Economy, Partners
- June 22, 2021
