PHOENIX, April 22, 2021 /PRNewswire/ -- Nikola Corporation
(Nasdaq: NKLA) (Nikola), through its Nikola Energy division, and
TravelCenters of America Inc. (Nasdaq: TA) (TA-Petro), the largest
publicly-traded operator/franchisor of full-service travel centers
in the United States, have agreed
to collaborate on the installation of hydrogen fueling stations for
heavy-duty trucks at two existing TA-Petro sites. This
collaboration is a first step for the parties to explore the mutual
development of a nationwide network of hydrogen fueling
stations. The collaboration is subject to negotiation and
execution of definitive documentation acceptable to the
parties.
The first two stations will be constructed at existing TA-Petro
locations in California and are
targeted to be commercially operational by Q1 2023. These
stations are expected to accelerate adoption of hydrogen
fuel-cell-powered commercial electric trucks. Paired with the
expected 500-mile range of the previously-announced Nikola Tre fuel-cell electric vehicle, the
launch stations will enable operations of zero-emission heavy-duty
commercial vehicles in and around the greater Los Angeles region and north through
California's Central
Valley.
The two hydrogen fueling stations under consideration for
development by Nikola and TA-Petro will provide for an open fueling
network available to any truck customer and will follow a common
industry standard for heavy-duty fueling protocols, ensuring
compatibility across all hydrogen fuel-cell truck
manufacturers.
Nikola President of Energy and
Commercial Pablo Koziner stated,
"Today we announce an important advancement in enabling the growth
of heavy-duty fuel-cell electric vehicles by partnering with a
leader in commercial fueling sites and high quality customer
services. Our collaboration in southern California will form a basis for building an
expanded network of hydrogen fueling stations for Nikola vehicle
customers and for industry use overall. This collaboration forms an
essential part in delivering the hydrogen-based ecosystem required
to advance zero emission solutions for commercial trucks."
"This exploration into hydrogen supply expands on our commitment
to provide customers the widest range of fuel and non-fuel
offerings, and on our Mission to 'return every traveler to the road
better than they came,'" said Jon
Pertchik, CEO of TA-Petro. "Through our new business unit
eTA, we are positioning ourselves to facilitate the transportation
industry's shift toward alternative fuel offerings including
hydrogen, a leading form of energy for Class 7 and 8 vehicles. We
are excited about this first foray into the future of heavy duty,
long-haul trucks and look forward to supporting our loyal fleet
customers as they increasingly adopt decarbonization
strategies."
ABOUT NIKOLA CORPORATION:
Nikola Corporation is
globally transforming the transportation industry. As a designer
and manufacturer of zero-emission battery-electric and
hydrogen-electric vehicles, electric vehicle drivetrains, vehicle
components, energy storage systems, and hydrogen station
infrastructure, Nikola is driven to revolutionize the economic and
environmental impact of commerce as we know it today. Founded in
2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information,
visit www.nikolamotor.com or
Twitter @nikolamotor.
ABOUT TRAVELCENTERS OF AMERICA:
TravelCenters of
America Inc. (Nasdaq: TA) is the nation's largest publicly traded
full-service travel center network. Founded in 1972 and
headquartered in Westlake, Ohio,
its nearly 20,000 employees serve customers in over 270 locations
in 44 states and Canada,
principally under the TA®, Petro Stopping Centers® and TA Express®
brands. Offerings include diesel and gasoline fuel, truck
maintenance and repair, convenience stores, full-service and
quick-service restaurants, car and truck parking and other services
and amenities dedicated to providing great experiences for
professional drivers and the general motoring public. TravelCenters
of America operates nearly 650 full-service and quick-service
restaurants and 9 proprietary brands including Iron Skillet® and
Country Pride®. For more information,
visit www.ta-petro.com.
NIKOLA FORWARD LOOKING STATEMENTS
Certain statements
included in this press release that are not historical facts are
forward-looking statements for purposes of the safe harbor
provisions under the Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as "believe," "may," "will," "estimate," "continue,"
"anticipate," "intend," "expect," "should," "would," "plan,"
"predict," "potential," "seem," "seek," "future," "outlook," and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding the potential benefits of the collaboration;
the ability to enable cost-effective distribution of hydrogen from
production to storage and fueling locations; the ability to
transport hydrogen via pipeline network from production sources to
hydrogen fueling stations; the potential impact of this network to
advance the adoption of FCEV technologies; need for and benefits of
FCEV trucks and hydrogen and fuel-cell related technologies; and
the ability of the parties to achieve economies of scale in
hydrogen production, distribution and supply. These statements are
based on various assumptions, whether or not identified in this
press release, and on the current expectations of Nikola's
management and are not predictions of actual performance.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements, including but not limited to,
the ability of the parties to enter into definitive documentation
for the collaboration and the terms of any such agreement; the
failure to realize the anticipated benefits of the letter of intent
or any definitive agreement; design and manufacturing changes and
delays; general economic, financial, legal, regulatory, political
and business conditions and changes in domestic and foreign
markets; the potential effects of COVID-19; the outcome of legal,
regulatory and judicial proceedings to which Nikola is, or may
become a party; demand for and customer acceptance of Nikola's
trucks; risks associated with development and testing of fuel-cell
power modules and hydrogen storage systems; the conversion of
pre-orders into binding orders; risks related to the rollout of
Nikola's business and the timing of expected business milestones;
the effects of competition on Nikola's future business; the
availability of capital; and the other risks detailed from time to
time in Nikola's reports filed with the Securities and Exchange
Commission, including its annual report on Form 10-K for the year
ended December 31, 2020 and other
documents Nikola files with the SEC. If any of these risks
materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. These forward-looking statements speak
only as of the date hereof, and Nikola expressly disclaims any
obligation to update these forward-looking statements.
TA-PETRO FORWARD LOOKING STATEMENTS
This press
release contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and other securities laws. For example, this
press release includes various statements about plans for the
delivery and monetization of sustainable and alternative energy,
potential partnership opportunities, the anticipated benefits of
TA's investment in sustainable and alternative, TA's future
financial performance, public policy and market trends related to
alternative energy, and TA's plan to expand the availability of DEF
and EV charging stations. Also, whenever TA uses words such as
"believe", "expect", "anticipate", "intend", "plan", "estimate",
"will", "may" and negatives or derivatives of these or similar
expressions, TA is making forward-looking statements. These
forward-looking statements are based upon TA's present intent,
beliefs or expectations, but forward-looking statements are not
guaranteed to occur and may not occur or may not have the effects
TA expects. Actual results may differ materially from those
contained in or implied by TA's forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, including those set forth in TA's
filings with the Securities and Exchange Commission, some of which
are beyond TA's control.
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SOURCE Nikola Corporation