NIKOLA EXPANDS HYDROGEN NETWORK WITH INAUGURATION OF SECOND HYLA REFUELING STATION IN SOUTHERN CALIFORNIA

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May 08, 2024, 08:05 ET

New Long Beach station advances Nikola's commitment to sustainable transportation solutions

PHOENIX, May 8, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, proudly announces the opening of its latest HYLA high-pressure modular refueling station and facility in Southern Calif.

HYLA refueling station in Southern California

Situated near the Port of Long Beach at 2267 W. Gaylord St., this new station commenced operations on May 4, 2024. This launch is yet another pivotal milestone in Nikola's strategic plan, aiming to establish a network of up to nine refueling solutions by mid-2024, with a total of 14 operational sites slated for completion by year-end, which include a combination of HYLA modular fuelers and partner stations such as FirstElement Fuels' in the Port of Oakland.

Complementing the infrastructure is Nikola's unwavering commitment to providing an exceptional customer experience, offering round-the-clock assistance through dedicated HYLA Ambassadors and Operation Technicians, ensuring seamless and efficient fueling.

"We are thrilled to inaugurate our second HYLA hydrogen refueling station in Southern California, marking a significant stride toward sustainable transportation," said President of Energy Ole Hoefelmann. "Our heartfelt appreciation extends to the City of Long Beach and the Long Beach Fire Department for their instrumental role in realizing this vision. With multiple stations in the pipeline this year, we are steadfast in our mission to pioneer zero-emission trucking solutions and drive positive environmental impact."

Through the alignment with notable industry partners, Nikola is actively securing its hydrogen supply chain and expanding its HYLA refueling infrastructure to support increased demand. This ongoing development underscores Nikola's commitment to accelerating the adoption of hydrogen fuel cell electric trucks and advancing the decarbonization agenda in transportation.

The HYLA refueling network plans to offer a diverse portfolio of refueling solutions to Nikola's hydrogen fuel cell electric vehicles and other Class 8 customers, including modular and permanent HYLA stations, "behind-the-fence," and partnerships with public truck stops. Notably, this expansion includes a recent 10-year agreement with FirstElement Fuel for a hydrogen refueling station in Oakland, Calif.

ABOUT NIKOLA CORPORATION:
Nikola Corporation's mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem.

Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility in Coolidge, Arizona.

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or Twitter @nikolamotor.

FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the "Company"), including statements relating to the benefits and capabilities of the Long Beach station or the planned HYLA fueling solutions and related hydrogen infrastructure; about the station beginning a pivotal milestone in the Company's strategic plan; about the station marking a significant stride toward sustainable transportation; and about the station's ability to drive positive environmental impact; providing customers access to hydrogen; working with partners to establish a fueling ecosystem; and the Company's beliefs regarding its competitive position and the benefits thereof. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the ability of the Company to access sufficient capital to meet its requirements and fund its business; manufacturing delays and difficulties; risks related to the rollout of the Company's hydrogen fueling infrastructure and the timing thereof; construction risks and delays; the availability of access to hydrogen refueling facilities; risks associated with manufacturing batteries and fuel cell power modules; variations in and characteristics of the hydrogen fueling location, including but not limited to fueling hardware and software protocol, fuel amount, and fueling conditions, any of which may affect refueling times; variations in terrain, temperature, speed, road conditions, truck configuration, payloads and other variables which may affect range; the Company's ability to remain listed on Nasdaq; and the factors, risks and uncertainties described in the "Risk Factors" section of the Company's annual report on Form 10-Q for the quarter ended March 31, 2024 filed with the SEC, in addition to the Company's subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Nikola Corporation