New station marks major step towards
decarbonizing Canada's busiest
commercial transport sector
TORONTO, July 30,
2024 /CNW/ -- Nikola Corporation (Nasdaq: NKLA),
a global leader in zero-emissions transportation and energy supply
and infrastructure solutions, via the HYLA brand, together
with ITD Industries, opened the first commercial hydrogen
refueling station for the heavy-duty transportation sector in
Ontario. The station, located at
ITD Industries' headquarters in Etobicoke, ON, is situated at 161 The
Westmall, a pivotal location near Highway 401, Highway 427, and the
Queen Elizabeth Highway (QEW).
Notable guests in attendance at a special launch event included
Hon. Doug Ford, Premier of
Ontario, Hon. Sam Oosterhoff, Associate Minister of
Energy-Intensive Industries of Ontario and other provincial and federal
dignitaries, as well as notable business leaders within the energy,
retail and transportation industry such as Walmart Canada, Canadian
Tire and Loblaws.
This station marks a significant milestone for Nikola and ITD
Energy, a subsidiary of ITD Industries, which is the first Canadian
dealer in the Nikola sales and service network. The
station uses a 700-bar pressure-fill system, allowing hydrogen fuel
to be dispensed into onboard storage for long-range vehicles, such
as the Nikola hydrogen fuel cell electric Class 8 truck.
"It is inspiring to witness the vision of a hydrogen-powered
future coming to life with the opening of this refueling station in
the greater Toronto area," said
Nikola CEO Steve Girsky.
"Collaborating with ITD Industries, we are not only providing
trucks but also the fueling solutions to support the entire
hydrogen ecosystem. This station marks significant progress in our
mission to build a comprehensive hydrogen infrastructure in
North America."
Together with partners such as the Canadian Hydrogen Association
and other private and public organizations, including Walmart
Canada, which recently became the first major retailer in
Canada to use a Nikola hydrogen
fuel cell electric truck in its fleet, Nikola and ITD Industries
are spearheading the transformation of Ontario and Canada's commercial transportation sector
towards a carbon-free future.
"The presence of so many distinguished public and private
figures, underlines and validates the importance of this
station launch to the future of long-haul carbon-free
commercial transportation. This station is the first of
several ITD is planning on erecting across Ontario with Nikola Corporation as we aim
to build a hydrogen fueling corridor connecting Windsor to Montreal," mentioned Philip Turi, COO of ITD Industries during the
opening remarks.
"Congratulations to Nikola Corporation and ITD Industries on
building the first commercial hydrogen refueling station for the
heavy-duty transportation sector in Ontario," said Premier Doug Ford. "This milestone marks a significant
step as we work together with businesses, industry and all levels
of government to build reliable, affordable, and clean energy
solutions to power our province's growth."
Nikola anticipates significant growth in Canada with eligibility received for
the Incentives for Medium- and Heavy-Duty Zero-Emission
Vehicles (iMHZEV) Program. The iMHZEV program offers Canadian
organizations (for profit and non-profit), in all provinces,
territories and municipalities, up to $200,000 (CAD) in incentives towards the purchase
or lease of the Nikola hydrogen fuel cell electric
truck and up to $150,000 (CAD)
in incentives towards the purchase or lease of the Nikola
battery-electric truck.
Furthermore, Nikola is eligible for the Clean BC Go
Electric Rebates in the province of British Columbia, with $150,000 (CAD) in incentives towards the purchase
or lease of both the Nikola hydrogen fuel cell and battery-electric
trucks. This provincial incentive is stackable with the iMHZEV
federal incentive.
Earlier this year, Alberta's
first commercial hydrogen refueling station was
unveiled signaling the beginning of an expanded hydrogen
refueling network across Western
Canada. This HYLA refueling station is situated along
Alberta's two largest urban
centers, the Edmonton region and
Calgary, and will play a key role
in decarbonizing one of Western
Canada's busiest highways.
ABOUT NIKOLA CORPORATION
Nikola Corporation's mission is clear: pioneering solutions for a
zero-emissions world. As an integrated truck and
energy company, Nikola is transforming commercial
transportation, with our Class 8 vehicles, including
battery-electric and hydrogen fuel cell electric trucks, and our
energy brand, HYLA, driving the advancement of the complete
hydrogen refueling ecosystem, covering supply, distribution and
dispensing.
Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility
in Coolidge, Arizona.
Experience our journey to achieve your sustainability goals
at nikolamotor.com or engage with us on social media
via Facebook @nikolamotorcompany,
Instagram @nikolamotorcompany,
YouTube @nikolamotorcompany,
LinkedIn @nikolamotorcompany or X /
Twitter @nikolamotor.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Nikola Corporation (the "Company"), including statements relating
to the benefits and capabilities of the Ontario, Canada station and
related hydrogen infrastructure; about the station beginning
a pivotal milestone in the Company's strategic plan; about the
station marking a significant stride toward sustainable
transportation; and about the stations ability to drive positive
environmental impact; providing customers access to hydrogen;
working with partners to establish a fueling ecosystem; and the
Company's beliefs regarding its competitive position and the
benefits thereof. Forward-looking statements are predictions,
projections, and other statements about future events based on
current expectations and assumptions and, as a result, are subject
to risks and uncertainties. Many factors could cause actual future
events to differ materially from the forward-looking statements in
this press release, including but not limited to: the ability of
the Company to access sufficient capital to meet its requirements
and fund its business; manufacturing delays and difficulties; risks
related to the rollout of the Company's hydrogen fueling
infrastructure and the timing thereof; construction risks and
delays; the availability of access to hydrogen refueling
facilities; risks associated with manufacturing batteries and fuel
cell power modules; variations in and characteristics of the
hydrogen fueling location, including but not limited to fueling
hardware and software protocol, fuel amount, and fueling
conditions, any of which may affect refueling times; variations in
terrain, temperature, speed, road conditions, truck configuration,
payloads and other variables which may affect range; the Company's
ability to remain listed on Nasdaq; and the factors, risks and
uncertainties described in the "Risk Factors" section of the
Company's quarterly report on Form 10-Q for the quarter ended
March 31, 2024 filed with the SEC, in
addition to the Company's subsequent filings with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, the Company assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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SOURCE Nikola Corporation