Nikola Motor Co.

Receives purchase order from Nikola

Oslo, 3 June, 2020
Nel Hydrogen Inc., a wholly owned subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order from Nikola Corporation (Nikola), a
global leader in zero-emissions transportation and infrastructure solutions, for 85 megawatt alkaline electrolysers related to the deployment of the world’s first 8 ton/day hydrogen fueling stations. 

“We’re very excited to have reached this landmark milestone with Nikola. Since our partnership began in 2017, we have been working together to develop a massive large-scale hydrogen fueling station. It’s been amazing to see the significant progress made by the Nikola team specific to vehicle development and the station design, and now we are ready to start building,” says Jon André Løkke, chief executive officer of Nel.

“We are building the largest hydrogen network in the world and I couldn’t be prouder to have Nel part of it,” said Trevor Milton, Nikola Corporation’s founder and executive chairman. “These electrolysers will support five heavy-duty hydrogen stations which will cover multiple states and trucking routes in the USA. The future of clean transportation is here, and fleets are lining up to be part of the transition with Nikola.”

The purchase order has a value in excess of USD $30 million, and the electrolysers will primarily be delivered from the new electrolyser mega-factory currently under development in Norway. This purchase order will support Nikola’s five initial stations with 8 ton per day hydrogen production capacity. The remaining equipment will be covered by a separate purchase order that is expected to be finalized within the coming months.

“The framework agreement was one of the key triggers for deciding to develop our alkaline electrolyser mega-factory in Norway, and has enabled Nikola to reserve capacity in the new plant,” Løkke concludes.

The purchase order is subject to final approval by Nel.

Press release:
https://nelhydrogen.com/press-release/nel-asa-receives-purchase-order-from-nikola-2/

Nel proposed for a $ 2 million award on project regarding fueling of heavy-duty hydrogen  vehicles

Oslo, July 30 2019
Nel Hydrogen Inc, a subsidiary of Nel ASA (Nel, OSE:NEL), has been selected by the Department of Energy (DOE) for negotiations on $2 million funding for development of hydrogen compression technology for fueling of heavy duty vehicles. The proposed funding will be shared between Nel and Nikola Motor Company (Nikola).

The purpose of the proposed project is to further develop hydrogen compression technology to better cater for heavy duty vehicles through greater capacity and cost reductions. Nel will collaborate with Nikola on the project, targeting the market deployment of hydrogen fueled zero emission heavy duty trucks currently being pursued by both companies.

“We are excited to have been selected for negotiations with the DOE on this project, which will contribute to our efforts on commercializing the use of hydrogen for zero emission trucks in the US. Hydrogen used within heavy duty mobility is moving faster than previously expected and we are adapting our technology to better cater for these applications,” says Jon André Løkke, CEO of NEL ASA.

“Nikola is excited that Nel has received this DOE Award for their Heavy Duty (HD) High Speed Hydrogen Compressor. We look forward to working together with Nel on this project and testing this next generation compressor along with our cutting-edge Hydrogen Storage System (HSS). This compression technology advances the future HD hydrogen fueling standard, development of high-throughput station hardware and enables the Global Technical Regulation HSS testing. Nikola Motor is building a state-of-the-art Hydrogen R&D Center in Arizona to validate hydrogen and fuel cell technologies under extreme temperatures -ranging from Death Valley to the Arctic Circle,” stated Jesse Schneider, Executive Vice President of Hydrogen & Fuel Cell Technologies of Nikola.

The funding selection follows a competitive application process involving thorough review by the DOE and third-party evaluators. Recently the DOE announced that Nel has been selected for funding negotiations, with expected completion during fall 2019.

Press release:
https://nelhydrogen.com/press-release/press-release-nel-proposed-for-a-2-million-award-on-project-regarding-fueling-of-heavy-duty-hydrogen-vehicles/

Nel signs MoU together with industry
group to develop and test hydrogen fueling hardware for heavy duty vehicles

February 25, 2019
Nel has together with Air Liquide, Hyundai, Nikola Motor, Shell and Toyota signed a Memorandum of Understanding (MOU) for hydrogen fueling components, for the purpose of testing state of the art heavy duty (HD) hydrogen fueling hardware to assist in standardization and speed to market for fuel cell electric trucks.

This cross-industry group of both vehicle and infrastructure companies has signed an MOU with the purpose to test pre-commercial 70MPa hydrogen heavy duty vehicle high flow (H70HF) fueling hardware for future Class 8 (40 Ton) trucks. The industry group has created specifications for the fueling nozzle, vehicle receptacle, dispenser hose and breakaway device components for this HD application for the purpose of developing Request for Proposals to suppliers.
This industry group is requesting notification of suppliers’ intent to participate in a pre-commercial development and test program designed specifically for this fueling hardware. The fueling hardware samples will undergo performance tests in accordance with the appropriate SAE/ISO/CSA industry standards along with additional aspects for this emerging market.

«Heavy Duty Fuel Cell Trucks offer the same range as their conventional Diesel counterparts and fueling hardware is being developed to fill in 10 minutes. Key members of the industry have joined forces to evaluate HD Fueling Hardware to make this a reality. The goal isto enable interoperability so that any HD FCEVs can fuel at our hydrogen stations and we can fill at any of theirs, just like diesel today. This is a big first step,» said Jesse Schneider, executive vice president, Nikola Motor, Hydrogen & Fuel Cell Technologies.

“Hydrogen as fuel for the Heavy Duty transport sector is showing great promise and traction, and we are now in the process of developing the next generation, high capacity stations for this segment. In order to enable commercial success for this segment, standardization of fueling hardware is a key” says Jørn Rosenlund, SVP of Nel Hydrogen Fueling.

Press release:
https://mb.cision.com/Main/115/2748799/997189.pdf

NEL invests USD 5 million in Nikola C round financing

Oslo, September 5, 2018
Nel ASA (“Nel”) today announced that it has invested USD 5 million into Nikola Motor Company (“Nikola”) as part of their C-round financing. On August 6, 2018, Nikola announced that they had secured USD 100 million investment (pre-money valuation of USD 1.1 billion) in the current C-round and that the process to raise more than USD 200 million was progressing well. This USD 5 million investment is in line with earlier communications from Nel and further strengthens the partnership and collaboration between Nel and Nikola.

“We fully support Nikola in their exciting journey to revolutionize the heavy-duty trucking industry and look forward to strengthening our collaboration even further with this equity investment. Nikola intends to build a
U.S. nationwide network of hydrogen stations for zero-emission truck and passenger vehicles, and they are front runners in a massive transportation technology shift. On August 22, Nel announced the construction of the world’s largest electrolyzer manufacturing plant, which will fully support Nikola’s ambitions to outcompete fossil alternatives,” says Jon André Løkke, Chief Executive Officer of Nel.

Nikola Motor Company is pioneering hydrogen-electric renewable technology within heavy-duty  transportation. Nikola has an ambition to build a network of 700 hydrogen fueling stations across North  America by 2028 and has been awarded an 800-truck order commitment from Anheuser-Busch, the total number of truck preorders is currently exceeding 11,000. Nikola and Nel announced earlier this year a multi- billion NOK partnership where Nel will deliver 448 electrolyzers and associated hydrogen production equipment for the fueling network.

“To say we have come a long way in 2018 is an understatement. Nikola’s business model has been vetted, and the investment world is taking notice. The C-round financing is progressing well and we are proud to have Nel as part of the new equity owners as they already hold an integrated role in our story. Together, Nikola and Nel pave the way for an emissions-free future,” says Trevor Milton, CEO of Nikola.

Press release:
https://mb.cision.com/Main/115/2608717/903229.pdf

Awarded multi-billion NOK electrolyzer and fueling station contract by Nikola

Who: Nikola Motor Co.
Project desc.: Support the Anheuser-Busch fleet of trucks (800 Hydrogen-Electric Powered Semi-Trucks). Nikola and Nel would need to deploy around 28 stations.
Product: Electrolyzers and supporting fueling equipment
Quantity: 448 + 28
Where: The first two stations installed in Arizona and California (depending on permit timelines)
When: Deployment from 2020
Value: Revenue potential, USD 500 mill.+

Oslo, 28 June 2018
Nel ASA (Nel, OSE: NEL) has been awarded a contract for
delivery of 448 electrolyzers and associated fueling equipment to Nikola Motor
Company (Nikola) as part of Nikola’s development of a hydrogen station infrastructure in the US for truck and passenger vehicles. Under the multi-billion NOK
contract, to be deployed from 2020, Nel will deliver up to 1 GW of electrolysis
plus fueling equipment. The company reiterates a potential major expansion of
the production capacity at Notodden to accommodate the contract order.

“We are immensely proud of announcing this 1 GW electrolyzer contract with Nikola for the exclusive delivery of 448 electrolyzers and supporting fueling equipment as part of their groundbreaking development of a hydrogen station infrastructure across the US. The multibillion NOK contract is by far the largest electrolyzer and fueling station contract ever awarded. It will secure fast and cost efficient fueling of Nikola’s fleet of hydrogen trucks, delivering support to major customers like Anheuser-Busch, as well as a growing fleet of Fuel
Cell Electric Vehicles. We look forward to working with Nikola on developing the world’s largest, most efficient network of low-cost hydrogen production and fueling sites,” says Jon André Løkke, Chief Executive Officer of Nel.
Nikola and Nel announced late 2017 an exclusive partnership aimed at developing low-cost, renewable hydrogen production and fueling sites as part of a nationwide network of hydrogen stations, supporting Nikola’s vision of replacing the current fleet of diesel trucks in America with zero-emission hydrogen trucks.
“The future for zero-emission trucks has never been brighter. Nel’s electrolyzers are efficient and reliable, making them a natural backbone for our station infrastructure. We’ll begin fleet testing the Nikola hydrogen electric semi-trucks in 2019. The first two stations will be installed in Arizona and California depending on permit timelines. The next 28 stations will be installed on each route outside of Anheuser-Busch’s Breweries or their distribution centers.
Each station will produce 700 bar and will be compatible with class 8 trucks and consumer cars. This is an incredibly exciting time and we have now contractually set in motion the largest network of hydrogen in the world,” says Trevor Milton, Chief Executive Officer of Nikola. Under the contract, Nel will deliver 448 electrolyzers and supporting fueling equipment to Nikola, the rollout is expected to start in 2020. The contract includes an initial order for a pre-engineering package of around USD 1.5 million, where Nel will develop a station design, including electrolyzers, specifically made for fast fueling of Nikola trucks. Nel will continue to
work, in collaboration with Nikola, to finalize the detailed station design and other technology elements to be deployed for the commercial stations. Nikola has already placed an initial order amounting to more than USD 9 million for two demo-stations for which delivery will commence towards the end of 2018.

Early in May, Nikola announced that Anheuser-Busch has placed an order for up to 800 Hydrogen-Electric Powered Semi-Trucks. To support the Anheuser-Busch fleet of trucks, Nikola and Nel would need to deploy around 28 stations. This order volume alone will have a revenue potential for Nel of more than USD 500 million.

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The electrolyzer stacks will be manufactured in Norway and fueling equipment in Denmark. However, other supporting components and sub-systems will be sourced locally in the US to reduce costs and minimize transportation needs.

“We’re looking at a total contract volume which is many times higher than the current annual production capacity at Notodden. While we have not reached any conclusions on an expansion to accommodate the order, we want to reiterate our plans to develop the Notodden facility into the world’s largest electrolyzer stack manufacturing facility, aiming at a cost reduction of around 40 percent,” says Løkke.

Press release:
https://mb.cision.com/Main/115/2559428/867873.pdf

Receives additional purchase order from Nikola

Who: Nikola Motor Co.
Where: TBA
Project desc.: World’s largest H2-fueling network.
Nikola and Nel are now evaluating if the initial station number should be doubled to 28 stations.
Product: H2Station®
Quantity: +28
Value: USD 5.5 million
When: Delivery H2, 2018 and into 2019

Oslo, 3 April, 2018
Nel ASA (Nel, OSE: NEL) has received a USD 5.5 million purchase order from Nikola Motor Company (Nikola), as part of the previously announced hydrogen stations.

“We are very proud to announce that we have received an additional order from Nikola related to the electrolyzer and fueling solution for their prototype trucks. The order marks a strengthening of our partnership and is a recognition of the level of competence our team and hydrogen solutions can offer. We look forward to supplying the demo stations, which will lay the groundwork for the world’s largest, most efficient network of low-cost hydrogen production and fueling sites,” says Jon André Løkke, Chief Executive Officer of Nel.

On November 15, 2017, Nikola and Nel announced the exclusive partnership and a purchase order for two so-called demo hydrogen refueling stations for Nikola’s fleet of prototype hydrogen trucks. The partnership aims at developing low-cost, renewable hydrogen production and fueling sites for the potential development of 14 large-scale sites, however, Nikola and Nel are now evaluating if the initial station number should be doubled to 28 stations.

“The Nikola hydrogen electric semi-trucks will begin testing with fleets in 2019 and begin full production in 2021. One of the most respected brands in America just signed an order with Nikola to convert 100% of their fleet over to Nikola trucks. This will require an additional 28 more stations to go up to support those efforts on top of the existing Nel purchase order.
Nel has been a great partner to work with and we are excited to begin replacing diesels in America with zero emission trucks. The future for zero emission trucks has never been brighter,” says Trevor Milton, Chief Executive Officer of Nikola.

The additional purchase order has a value of USD 5.5 million, bringing the total value for the demo stations to approximately USD 9 million, with delivery in the second half of 2018 and into 2019.

Press release:
https://mb.cision.com/Main/115/2485905/814804.pdf

Enters into exclusive partnership with Nikola – Awarded initial purchase order for two demo stations

Who: Nikola Motor Co.
Project desc.: Building the world’s largest hydrogen network. Scalable to a max.of 32 units pr.site, equaling a prod. cap. of up to 32 tons of h2/day.
Product: A-485 electrolyzer
Quantity: Minimum 8 x 16 sites
Where: TBA
Value: 3.6 Million USD
When: Delivery of the demo stations is intended to start H2, 2018. Target to build 16 of the mega-scale hydrogen stations between 2019-21

Oslo, 15 November 2017
Nel ASA (Nel, OSE:NEL) has received a purchase order from Nikola Motor
Company (Nikola Motor) for two demo refueling stations to provide hydrogen to Nikola’s fleet of prototype hydrogen trucks. The purchase order is the initial part of an exclusive partnership aiming at developing low-cost renewable hydrogen production and fueling sites for the potential development of 16 large-scale sites with a capacity up to 32 tons of hydrogen per day.

“We are very excited to announce our partnership with Nikola for a joint endeavor to develop mega-scale hydrogen fueling stations based on our new cluster design, which leverages Nel’s highly scalable electrolyzers in order to reduce the cost of hydrogen and achieve price parity with fossil fuels. Our initial two demo stations will each provide one ton of hydrogen to Nikola Motor’s prototype trucks and serve as design verification for Nel’s mega-scale concept. This solution will be jointly developed and scaled into the world’s most efficient network of low-cost hydrogen production and fueling sites,” says Jon André Løkke, Chief Executive Officer of Nel.
Nikola Motor has entered into an agreement with Nel to work exclusively on all hydrogen stations involving electrolysis. The initial part of the partnership includes building two demo-stations for hydrogen fueling, which will serve the Nikola test fleet that will begin rolling out next year. For the following mega-stations, Nel will incorporate its clustering concept, where eight Nel A-485 electrolysers are integrated into one unit, to achieve lower CapEx levels.

“We are building the world’s largest hydrogen network. Nel´s electrolyzers are well proven, and known in
the industry for being very efficient and reliable, making them a natural backbone for the development of
our mega-stations. We are beyond excited to work with the Nel team to deploy this groundbreaking technology as quickly as possible across the US,” says Trevor Milton, Chief Executive Officer of Nikola Motor.

Nikola has an initial target to build 16 of the mega-scale hydrogen stations between 2019-2021, with a minimum of eight units of the Nel A-485 electrolyzer per site. The solution is scalable to a maximum of 32 units of the Nel A-485 electrolyzer per site, equaling a production capacity of up to 32 tons of hydrogen per day.
The initial purchase order has a value of USD 3.6 million and delivery of the demo stations is intended to start in the second half of 2018.

Press release:
https://mb.cision.com/Main/115/2392964/752755.pdf