Nikola Corporation has secured an innovative electric rate schedule with Arizona Public Service Company (APS) to accelerate the development of its hydrogen-based fuelling solutions for the transportation industry.
Announced yesterday (12th Jan), the unanimous approval by the Arizona Corporation Commission (ACC) provides Nikola with a competitive electric rate specifically designed for the production, processing, and dispensing of hydrogen.
The approval will now help lead the creation of the hydrogen economy in Arizona and enable a zero emission heavy-duty freight corridor along the I-10 freeway between Los Angeles and Phoenix, among other things.
Celebrating the milestone, Mark Russell, CEO of Nikola, said, “Nikola values the joint efforts of APS and the ACC to enable competitive electrolytic hydrogen production. The approval of this special rate for hydrogen production is critical for advancing the future of zero-emissions transportation and building a hydrogen economy.”
Pablo Koziner, Nikola’s President of Energy and Commercial, added, “Through this agreement, Nikola is assured a reliable and competitively priced source of electricity that will allow us to commence the development of hydrogen production facilities to serve the fuelling needs of our truck customers.”
“The agreement sets an important precedent in showcasing that innovative operational solutions can be developed for the economic production of hydrogen that maximise benefits to all stakeholders.”