Nikola's DoE loan application for Phoenix hydrogen hub proceeds to Phase 2

Nikola Corp (NASDAQ:NKLA), a Phoenix, Arizona-based maker of electric vehicles (EVs), today said that the loan application for its Phoenix Hydrogen Hub LLC project has been invited to proceed to Part II of the Department of Energy Loan Program Office’s application process.

The loan guarantee application under the Innovative Clean Energy projects solicitation could amount to up to USD 1.3 billion (EUR 1.24bn) for a green hydrogen production facility, the company added. Its application was submitted in May.

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The Phoenix Hydrogen Hub, to be located on 920 acres (372 ha) of undeveloped land in Maricopa County, Arizona, is intended to support the rollout of Nikola's heavy-duty, zero-emission fuel cell EVs and hydrogen refueling stations in California and the US Southwest.

It is expected to be constructed in phases with an initial stage of 30 tonnes per day to be completed in 2024. Expansion in line with demand to up to 150 tonnes of hydrogen per day and beyond is envisaged.

The company said that the hub is also expected to support additional uses for clean hydrogen such as industrial, residential and commercial heating.

(USD 1 = EUR 0.957)