It may be in fits and starts but hydrogen is coming.
Two from Inside EVs. First up, September 5:
CNH Industrial To Invest $250 Million In Nikola Corporation
Nikola attracted a serious industry partner to industrialize fuel-cell and battery-electric heavy-duty trucks.
CNH Industrial announced its intention to participate in the Nikola Corporation's Series D round with a $250 million investment to become a strategic and exclusive heavy-duty truck partner in North America and Europe.And September 12:
The pre-money valuation was set at $3 billion, which means that with over $1 billion anticipated in Series D, new investors and business partners will obtain about 25% of the ownership (including roughly over 6% to CNH Industrial).
"Nikola’s zero-emission Heavy Duty Trucks, powered by proprietary hydrogen fuel cell and battery technology, will be the first-to-production. The company’s disruptive business model foresees an industry-first ‘all-in’ lease rate, which includes vehicle, service, maintenance and fuel costs, providing long-term total cost of ownership certainty at or below diesel...MUCH MORE
Bosch And Hanwha Invest $230 Million In Nikola Corporation
With significant investments secured, Nikola will be able to move from the development phase to the commercialization phase.
Just days after a bold announcement about a $250 million investment from CNH Industrial, Nikola Corporation welcomes on-board two new strategic investors - Bosch and Hanwha, which comes with $230 million (at least $100 million each).
Bosch already was "an instrumental partner for Nikola", engaged in both - hydrogen fuel cell systems and battery systems tech. Hanwha on the other hand, as a solar panel manufacturer, is responsible for the generation of renewable electricity at hydrogen refueling stations.
"Bosch has been an instrumental partner for Nikola in the development of its state-of-the-art heavy-duty vehicle fuel cell system and battery technology. Bosch’s investment confirms its commitment to the development of hydrogen technology and hydrogen infrastructure.
Previously on Nikola:Hanwha is a world leader in renewable energy and solar panel manufacturing and is partnering with Nikola to assist in obtaining clean energy for its hydrogen fueling network. Hanwha is Nikola’s exclusive solar panel provider (Q CELLS), generating the clean electricity that is critical to the production of renewable hydrogen."....MORE
May 11, 2018
Watch Out Elon: "Anheuser-Busch just bought 800 fuel cell Nikola trucks" (TSLA; NEL:Oslo)
May 24, 2018
Watch Out Elon: Nikola Is Offering More Than Just Trucks (TSLA; NEL:Oslo)
And among our posts on the subject of hydrogen, one of the approaches:
NH3 - ammonia - three hydrogens attached to a nitrogen
Credit: This Condensed Life
Feb. 2019
Shipping: "UK Department of Transport recommends launch of ammonia / hydrogen powered vessels within 5-15 years"
Ammonia, it's what everyone is talking about.
And if your crowd isn't, you'll be the best-informed next-gen energy storage/transport-medium connoisseur at the Thursday afternoon salon!
Bosch likes the stuff so much they featured Nikola in a small section of the introduction to their 2018 Annual Report.
Bosch is very big.
And CNH, at $27 billion in revenues is not tiny but only about a third the size of Bosch.
And destined to get smaller when they split the company into on-road (Iveco) and off-road companies, a move that has attracted the attention of Dr, Evil himself, Paul Singer.
FT, last month: "Elliott invests in CNH Industrials ahead of Iveco truck split"Mr. Singer doesn't use reptiles in his communications, although some people think he is one.
