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Nikola (NKLA) & BayoTech Unite for Hydrogen-Powered Future
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Nikola Corporation (NKLA - Free Report) , a prominent player in zero-emissions transportation and energy solutions, and BayoTech, an innovator in hydrogen production and storage, have joined forces. This collaboration aims to advance the accessibility of reliable hydrogen supply for commercial fuel cell electric vehicle (FCEV) fleets. This partnership is set to revolutionize the zero-emission transportation sector and accelerate the growth of the hydrogen ecosystem.
In a strategic alignment of interests, BayoTech will acquire up to 50 Nikola Class 8 hydrogen fuel cell electric vehicles over the next five years to facilitate zero-emission hydrogen transport. The first dozen trucks are set for delivery in 2023 and 2024.
Simultaneously, Nikola has committed to procuring low-carbon hydrogen from BayoTech’s hydrogen hubs located in Missouri and California. Additionally, Nikola plans to acquire up to 10 BayoTech HyFill transport trailers, enabling efficient delivery of high-pressure gaseous hydrogen from production facilities to refueling stations serving fuel cell electric vehicle fleets.
Nikola's fuel cell electric vehicle stands out in the zero-tailpipe-emission Class 8 trucks category, offering a range of up to 500 miles. This impressive feature makes these trucks ideal for a range of applications, including drayage, intermodal, truckload, less than truckload and specialized hauling.
Nikola, as BayoTech's anchor hydrogen offtake customer, will commence low-carbon hydrogen procurement from Missouri in 2023, followed by California in 2024. This arrangement aligns with Nikola's commitment to reducing carbon emissions and promoting sustainable energy solutions. By incorporating BayoTech's hydrogen into its fleet, Nikola will further enhance the environmental credentials of its zero-emission trucks.
"BayoTech's low-carbon hydrogen fuel and transport equipment will play an important part in supporting the adoption of Nikola's Class 8 fuel cell electric zero-emission trucks," noted Michael Lohscheller, president and CEO of Nikola.
This strategic partnership not only ensures a reliable hydrogen supply for Nikola's FCEV fleet but also signifies a significant step forward in stimulating the growth of the hydrogen ecosystem. BayoTech's commitment to delivering hydrogen via zero-emission fuel cell trucks aligns with the objectives of forward-looking companies like Nikola. The collaboration between these industry leaders will expedite the deployment of BayoTech's hydrogen hub network and contribute to the wider adoption of hydrogen-based solutions in various sectors.
By integrating BayoTech's innovative hydrogen production, transportation and storage solutions with Nikola's state-of-the-art fuel cell electric trucks, the collaboration aims to provide reliable access to low-carbon hydrogen throughout the United States. As global clean energy efforts intensify, such alliances are pivotal in driving sustainable transport solutions and bolstering the wider hydrogen ecosystem, paving the way for a more sustainable tomorrow.
The Zacks Consensus Estimate for F’s 2023 sales implies year-over-year growth of 6.6%. The 2023 EPS estimate has been revised upward by 4 cents in the past seven days. The EPS estimate for 2024 has moved north by 3 cents in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales implies year-over-year growth of 17.6%. The 2023 EPS estimate has been revised upward by 3 cents in the past seven days. The EPS estimate for 2024 has moved north by 5 cents in the past seven days.
The Zacks Consensus Estimate for CMI’s 2023 sales implies year-over-year growth of 17%. The 2023 EPS estimate has been revised upward by 9 cents in the past 30 days. The EPS estimate for 2024 has moved north by 23 cents in the past 30 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Nikola (NKLA) & BayoTech Unite for Hydrogen-Powered Future
Nikola Corporation (NKLA - Free Report) , a prominent player in zero-emissions transportation and energy solutions, and BayoTech, an innovator in hydrogen production and storage, have joined forces. This collaboration aims to advance the accessibility of reliable hydrogen supply for commercial fuel cell electric vehicle (FCEV) fleets. This partnership is set to revolutionize the zero-emission transportation sector and accelerate the growth of the hydrogen ecosystem.
In a strategic alignment of interests, BayoTech will acquire up to 50 Nikola Class 8 hydrogen fuel cell electric vehicles over the next five years to facilitate zero-emission hydrogen transport. The first dozen trucks are set for delivery in 2023 and 2024.
Simultaneously, Nikola has committed to procuring low-carbon hydrogen from BayoTech’s hydrogen hubs located in Missouri and California. Additionally, Nikola plans to acquire up to 10 BayoTech HyFill transport trailers, enabling efficient delivery of high-pressure gaseous hydrogen from production facilities to refueling stations serving fuel cell electric vehicle fleets.
Nikola's fuel cell electric vehicle stands out in the zero-tailpipe-emission Class 8 trucks category, offering a range of up to 500 miles. This impressive feature makes these trucks ideal for a range of applications, including drayage, intermodal, truckload, less than truckload and specialized hauling.
Nikola, as BayoTech's anchor hydrogen offtake customer, will commence low-carbon hydrogen procurement from Missouri in 2023, followed by California in 2024. This arrangement aligns with Nikola's commitment to reducing carbon emissions and promoting sustainable energy solutions. By incorporating BayoTech's hydrogen into its fleet, Nikola will further enhance the environmental credentials of its zero-emission trucks.
"BayoTech's low-carbon hydrogen fuel and transport equipment will play an important part in supporting the adoption of Nikola's Class 8 fuel cell electric zero-emission trucks," noted Michael Lohscheller, president and CEO of Nikola.
This strategic partnership not only ensures a reliable hydrogen supply for Nikola's FCEV fleet but also signifies a significant step forward in stimulating the growth of the hydrogen ecosystem. BayoTech's commitment to delivering hydrogen via zero-emission fuel cell trucks aligns with the objectives of forward-looking companies like Nikola. The collaboration between these industry leaders will expedite the deployment of BayoTech's hydrogen hub network and contribute to the wider adoption of hydrogen-based solutions in various sectors.
By integrating BayoTech's innovative hydrogen production, transportation and storage solutions with Nikola's state-of-the-art fuel cell electric trucks, the collaboration aims to provide reliable access to low-carbon hydrogen throughout the United States. As global clean energy efforts intensify, such alliances are pivotal in driving sustainable transport solutions and bolstering the wider hydrogen ecosystem, paving the way for a more sustainable tomorrow.
Zacks Rank & Other Key Picks
Nikola currently carries a Zacks Rank #2 (Buy).
A few other top-ranked players in the auto space include Ford (F - Free Report) , Stellantis (STLA - Free Report) and Cummins (CMI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for F’s 2023 sales implies year-over-year growth of 6.6%. The 2023 EPS estimate has been revised upward by 4 cents in the past seven days. The EPS estimate for 2024 has moved north by 3 cents in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales implies year-over-year growth of 17.6%. The 2023 EPS estimate has been revised upward by 3 cents in the past seven days. The EPS estimate for 2024 has moved north by 5 cents in the past seven days.
The Zacks Consensus Estimate for CMI’s 2023 sales implies year-over-year growth of 17%. The 2023 EPS estimate has been revised upward by 9 cents in the past 30 days. The EPS estimate for 2024 has moved north by 23 cents in the past 30 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.