NIKOLA SECURES NEW HYLA LOCATION IN WEST SACRAMENTO

Rhea-AI Summary

Nikola (NKLA) has secured a new HYLA hydrogen refueling station in West Sacramento, CA, marking its first modular refueling location in Northern California. The station, located at 917 Stillwater Rd, will be commercially operational in January 2025. Phase one of the facility will have capacity to fuel up to 20 Nikola hydrogen fuel cell electric Class 8 trucks daily.

The West Sacramento location represents a strategic expansion along the north-south I-5 freight corridor and will enhance coverage from the Port of Oakland. The HYLA network will provide flexible refueling options, including modular and permanent stations, customer-owned facilities, and public truck stop partnerships.

Positive

• Expansion of hydrogen refueling infrastructure in strategic Northern California location
• Capacity to fuel 20 Class 8 trucks daily in phase one
• Strategic positioning along I-5 freight corridor and near Port of Oakland

Negative

• Station won't be operational until January 2025
• initial daily fueling capacity of only 20 trucks

• West Sacramento station marks HYLA's first modular refueling station in Northern California
• A significant step in HYLA's plan to connect current HYLA stations to northern central California
• This new HYLA station will be commercially operational in January 2025

PHOENIX , Dec. 18, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, proudly announces the securing of a new HYLA station located in West Sacramento, CA. Featuring a compact high-pressure hydrogen refueler, the station at 917 Stillwater Rd in West Sacramento, California, represents the latest phase in Nikola's commitment to provide hydrogen refueling solutions for Class 8 trucks. This new station will increase Nikola's hydrogen presence in Northern California.

Phase one of the West Sacramento station will be capable of fueling up to 20 Nikola hydrogen fuel cell electric Class 8 trucks daily. HYLA will provide continuous site support, ensuring a seamless and efficient fueling experience for its customers.

"We are thrilled to open our first HYLA hydrogen refueling station in Northern California. West Sacramento marks a significant milestone for Nikola and offers convenient access for our fleet customers based in West Sacramento and its surrounding areas," said President of Energy Ole Hoefelmann. "Reaching a zero-emission future just became one step closer as we continue our planned rollout to strengthen the north-south I-5 freight corridor and expand coverage areas from the Port of Oakland."

Working alongside state and local jurisdictions, HYLA is securing a robust hydrogen supply chain and refueling infrastructure to support its growing fleet customer base. Nikola's expansion of its HYLA fueling network into West Sacramento will further accelerate the adoption of hydrogen fuel electric trucks across California, helping to further zero-emissions transportation efforts across the United States.

California State Senator Christopher Cabaldon stated, "California's hydrogen future first launched in West Sacramento with the global Fuel Cell Partnership, so it is exciting to welcome Nikola's new HYLA station to the city at the core of the region and national logistics network. Hydrogen offers rapid refueling and long working range at load, which is ideal for trucking. This new hydrogen fueling station will help accelerate adoption of zero-emission trucks in California, right here in the state capital region."

The HYLA refueling solutions network will offer Nikola hydrogen fuel cell electric vehicles and other Class 8 customers flexible refueling options, including modular and permanent HYLA stations, customer-owned facilities, and partnerships with public truck stops.

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 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 Guasti station or the planned HYLA fueling stations and related hydrogen infrastructure;  transitioning to zero emission trucking; 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; the level of and cancellation of customer orders; 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 September 30, 2023 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

FAQ

When will Nikola's (NKLA) new West Sacramento HYLA station become operational?

The new HYLA hydrogen refueling station in West Sacramento will become commercially operational in January 2025.

What is the daily fueling capacity of NKLA's new West Sacramento HYLA station?

Phase one of the West Sacramento station will be capable of fueling up to 20 Nikola hydrogen fuel cell electric Class 8 trucks daily.

Where is Nikola's (NKLA) new HYLA station located in West Sacramento?

The new HYLA station is located at 917 Stillwater Rd in West Sacramento, California.

What types of refueling options will NKLA's HYLA network offer?

The HYLA network will offer flexible refueling options, including modular and permanent stations, customer-owned facilities, and partnerships with public truck stops.

How does the West Sacramento HYLA station fit into Nikola's (NKLA) infrastructure strategy?

The station is part of Nikola's strategy to strengthen the north-south I-5 freight corridor and expand coverage areas from the Port of Oakland, supporting zero-emissions transportation efforts.