Nikola invests $50M to produce clean hydrogen

Nikola Corporation is investing $50 million in a clean hydrogen project being developed by Wabash Valley Resources (WVR)  in West Terre Haute, Indiana. The investment, which represents a 20% equity stake in the project, aims 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 also capturing the carbon dioxide emissions for permanent underground sequestration.

This investment is anticipated to build a hydrogen hub with the ability to offtake about 50 tons a day to supply its future dispensing stations across the Midwest. Exercising its offtake right will likely require significant additional investment by Nikola to build liquefaction, storage, and transportation services.