Nikola Corporation said it will be invest $50m for a 20% equity interest in the clean hydrogen project being developed by Wabash Valley Resources (WVR) in Indiana, US.
The project plans to use solid waste by-products, such as petroleum coke combined with biomass, to produce clean sustainable hydrogen for transportation fuels and base-load electricity generation. It will also capture the carbon emissions for permanent underground sequestration.
Nikola said that once completed, the project is expected to be one of the largest carbon capture and clean hydrogen production projects in the US.
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