Nikola Secures Energy Partner for Hydrogen Production

Truck maker Nikola (NASDAQ: NKLA) said late Tuesday that it has finalized a deal to receive affordable electricity needed to produce hydrogen for the company's planned fueling network.

The company said it has secured a rate schedule with Arizona Public Service, a unit of utility holding company Pinnacle West Capital (NYSE: PNW), that Nikola says "makes possible the accelerated development of hydrogen-based fueling solutions for the transportation industry."

A pair of Nikola Two trucks. Image source: Nikola.

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Source Fool.com