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Aug. 12, 2021, 8:26 a.m. EDT

Nikola awarded $2 million grant for research on autonomous refueling of hydrogen fueling stations

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By Tomi Kilgore

Shares of Nikola Corp. /zigman2/quotes/208704275/composite NKLA +4.55% climbed 3.0% in premarket trading Thursday, after the electric vehicle maker said it was awarded a grant of about $2 million from the U.S. Department of Energy, to support its research into autonomous refueling technologies for hydrogen fueling stations. The company said autonomous fueling is part of the industry's effort for the safe fueling of an onboard storage system to be less than 20 minutes for heavy-duty vehicles. "This funding is essential to advance key hydrogen fueling technologies that can improve the overall efficiency of fuel-cell commercial vehicles, while maintaining the safety and reliability standards required," said Pablo Koziner, president of energy and commercial at Nikola. The stock has dropped 20.5% over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.17% has gained 18.4%.

/zigman2/quotes/208704275/composite
US : U.S.: Nasdaq
$ 9.88
+0.43 +4.55%
Volume: 9.93M
Dec. 6, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.85 billion
Rev. per Employee
$211.11
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/zigman2/quotes/210599714/realtime
US : S&P US
4,591.67
+53.24 +1.17%
Volume: 2.58B
Dec. 6, 2021 5:09p
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