Nikola Corp, an electric truck manufacturing company and TC Energy, a pipeline operator of Canada has partnered for the purpose of collaborating on the plans for building and operating the large-scale hydrogen hub to produce the duel, which is needed for operating the vehicle of Nikola.
Under this new partnership, both the companies have been planning to build the hydrogen hubs in the United States and Canada, along with using the hydrogen fuel, which has been produced to power the Class 8 fuel cell electric vehicles of Nikola withing the upcoming five years.
The companies also said, they have also been aiming to build the hydrogen hubs that will be producing 150 tonnes each day near the busy truck routes, and the company ‘TC Energy’ can possibly be using the existing pipeline and storage asses for the purpose of distributing the hydrogen along with shipping the emissions of carbon starting from the hydrogen production process to the sites of permanent storage.
Ben Pham, analyst at BMO Capital Markets said, they believe that, this announcement has been reinforcing the long-term value of the pipeline infrastructure of TRP, along with the steel in the ground along with the ability for repurposing providing support to the transition of energy, specifically in the existing difficult regulatory environment for building the new pipelines.
The shares of TC Energy had been increased by 0.4 percent on the Toronto SE, and the shares of the company ‘Nikola’ had been increased by 0.6 percent.
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