USA

• Acquisition will secure control of critical battery pack engineering and production process.
• Transaction expected to yield annual cost savings of up to $350 million by 2026.
• Romeo’s Cypress, California facility will become Nikola’s Battery Center of Excellence.
• Nikola to host analyst and investor webcast on August 1 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time).

CyberFuels, Inc., a division of EncounterCare Solutions, ECSL, announced today that it has signed a Letter of Intent with an international energy company that has a new patented process for producing Green Hydrogen.  This relationship will work in conjunction with CyberFuels current distribution of its own proprietary alternative fuels and additives that already help to decarbonize the atmosphere.  The Letter of Intent calls for the first prototype of the commercial units to be placed at the new CyberFuels Gateway Terminal in Tampa, Florida.  Details on the contract will be further provided after the close of the deal.

• B&W will team with Newpoint Gas, supplying BrightLoopTM hydrogen generation and decarbonization technology and BrightGenTM combustion technology for groundbreaking project.
• Babcock & Wilcox subsidiary will provide construction services.
• B&W technology will allow plant to produce hydrogen, isolate carbon dioxide and create clean, near-zero emissions energy.

Latham, New York – Hydrogen fuel cells packed into a pair of 40-foot-long shipping containers here ramped up on an overcast day early this June as engineers gathered around laptops displaying data on the state, health and power output of the cells in this first-of-a-kind hydrogen generator.

• As in Build Back Better, credits capped at $3/kg.
• New bill brings credits close to reality.

The US Inflation Reduction Act, announced July 27, includes support for hydrogen through a new tax credit that will award up to $3/kg for low carbon hydrogen, subject to certain requirements.

Mitsui & Co., Ltd., (“Mitsui”, Head Office: Chiyoda-ku, Tokyo, President and CEO: Kenichi Hori) and CF Industries (“CF”, Head Office: Illinois, USA) have formed an agreement to jointly develop a clean ammonia production project in the United States.

• Type IV high-pressure Neptune tanks are to be delivered by Hanwha Solution’s hydrogen tank manufacturing subsidiary Hanwha Cimarron.
• Hanwha Cimarron will work with Shell to build extensive hydrogen refueling infrastructure in California.
• With its Alabama factory expected to come online late this year, Hanwha Cimarron will churn out 4,000 high-pressure tanks annually.

Houston is shaping up as a dominant player in the push to bring hydrogen into the nation’s clean energy mix.