Nikola and Voltera Enter into a Definitive Strategic Partnership on Hydrogen Station Infrastructure Funding for up to 50 Stations

(Nikola/PR Newswire) Creating the largest North American open network of commercial hydrogen refueling stations -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, and Voltera, a leading provider of critical infrastructure necessary to support the full decarbonization of transportation, announced a definitive agreement to develop the hydrogen fueling infrastructure required to support Nikola's deployment of its innovative zero-emissions vehicles. Through this strategic partnership agreement, Nikola and Voltera plan to develop up to 50 HYLA stations throughout North America over the next five years. This partnership underpins Nikola's prior announced plans to develop 60 stations by 2026.

Through this partnership, Nikola and Voltera will create the largest North American open-network of commercial hydrogen refueling stations, providing fuel to vehicles from various manufacturers to accelerate the adoption of zero-emission vehicles. Voltera will site, build, own, and operate the strategically located, fit-for-purpose hydrogen refueling stations, and Nikola will supply the hydrogen fuel and provide technical expertise. This partnership will accelerate the deployment of the several billion dollars Voltera plans to invest into EV charging and hydrogen fueling facilities. Together, Nikola and Voltera will develop a reliable and optimal refueling experience.

"Our partnership with Voltera will bring substantial capital and expertise to support Nikola's plans to build refueling infrastructure to support its customers," said Carey Mendes, President, Nikola Energy. "Voltera's expertise in building out zero-emission energy infrastructure will be a key enabler for Nikola's first-to-market hydrogen fuel cell electric trucks and fueling infrastructure. Nikola and Voltera have a shared commitment to the rapid deployment of infrastructure which is key to enabling the transition to a zero-emission economy."

"Voltera's mission is to accelerate the adoption of zero-emission vehicles, by taking on the complex and costly nature of developing the necessary infrastructure," said Matt Horton, CEO of Voltera. "By partnering with Nikola, we are expanding our focus beyond battery-electric vehicle charging in order to dramatically increase hydrogen fueling infrastructure, reduce barriers for operators buying vehicles at scale to enable mass adoption of hydrogen trucks."

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, via the HYLA brand, 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 VOLTERA
Voltera sites, builds, owns, and operates strategically located, fit-for-purpose EV charging and hydrogen fueling facilities to enable zero-emission vehicle deployment and operation at scale. With equity backing from EQT and plans to invest several billion dollars, alongside a team with deep experience deploying charging assets, proven critical infrastructure expertise and key strategic partners, Voltera is uniquely positioned to help solve the infrastructure challenge and scale zero-emission transportation. For more information, visit www.volterapower.com.