Nikola Corporation received an award from the U.S. Department of Energy to advance its research into autonomous refueling technologies for future hydrogen fueling stations

 

Nikola Corporation (NASDAQ: NKLA), designer and manufacturer of heavy-duty commercial battery-electric vehicles (BEV), fuel-cell electric vehicles (FCEV) and energy infrastructure solutions, announced August 12  they  received an award from the U.S. Department of Energy to advance its research into autonomous refueling technologies for future hydrogen fueling stations for   approximate $2 million to advance its research into autonomous refueling technologies for future hydrogen fueling stations.

The grant is funded by the US Department of Energy’s Energy Efficiency and Renewable Energy (EERE) Transportation Office under the recently announced Hydrogen and Fuel Cells R&D FY2021 FOA (#HydrogenNow).

“This funding is essential to advance key hydrogen fueling technologies that can improve the overall efficiency of fuel-cell commercial vehicles, while maintaining the safety and reliability standards required,” said Pablo Koziner, president, Energy and Commercial, Nikola. “The work we are doing with the Department of Energy and our partners on fueling technology is part of Nikola’s wholistic approach to the hydrogen ecosystem; supplementary to our work on heavy-duty vehicles, infrastructure, and energy solutions.”

In other news, announced today an expansion to its dealer network for its Class 8 truck sales and service coverage with the addition of Alta Equipment Group (NYSE: ALTG).

Zacks reports, Investors in Nikola Corporation NKLA need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 27, 2021, $13.50 Call had some of the highest implied volatility of all equity options today.

The share price  has been  30% into the red in 2021 and lost as much as 73% in value over the past 12 months.

Former Executive Chairman of Nikola, Trevor Milton sold 7 million of his 79 million shares in the electric truck startup, Nikola last week, for  $71.5 million most likely for his legal battle for  federal fraud charges. The SEC is suing Milton for alleged violations of federal securities laws.

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