(Nikola) Nikola Corporation will invest $50 million in cash and stock in Wabash Valley Resources for a clean hydrogen project.
Nikola will have a 20% equity stake in the project, which is being developed in West Haute, Ind. It will use solid waste byproducts and biomass to generate clean hydrogen fuel and base-load electricity.
The project is expected to produce zero-carbon intensity hydrogen and potentially lead to negative carbon intensity hydrogen.
Nikola’s hydrogen project will be the largest carbon capture and clean hydrogen production facility in the US.
NKLA: NASDAQ is up +4.53%,
