Nikola and BayoTech Partner to Advance Zero-Emission Hydrogen Delivery

• BayoTech to purchase up to 50 Nikola Class 8 hydrogen fuel cell electric vehicles for zero-emission hydrogen transport
• Nikola to purchase low-carbon hydrogen from BayoTech's Missouri and California hydrogen hubs and up to 10 BayoTech HyFill™ transports for bulk hydrogen delivery to customer refueling stations

PHOENIX, July 13, 2023 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via its HYLA brand, and BayoTech, Inc.("BayoTech"), an innovator in hydrogen production, transportation and storage solutions, announced an agreement to advance reliable hydrogen supply for zero-emission commercial fuel cell electric vehicle fleets. The strategic supply agreement includes Nikola Class 8 hydrogen fuel cell electric trucks, BayoTech HyFill™ bulk hydrogen transport trailers, and hydrogen produced at BayoTech's distributed network of hubs.

As the anchor hydrogen offtake customer, Nikola expects to take delivery of low-carbon hydrogen produced by BayoTech commencing in Missouri this year and California in 2024. Nikola plans to acquire up to 10 BayoTech HyFill™ transport trailers, facilitating the distribution of high-pressure gaseous hydrogen from the production sites to refueling stations that serve fuel cell electric vehicle fleets.

"Nikola and BayoTech are united by a common goal of providing reliable access to hydrogen throughout the United States," said Michael Lohscheller, President and CEO of Nikola Corporation. "BayoTech's low-carbon hydrogen fuel and transport equipment will play an important part in supporting the adoption of Nikola's Class 8 fuel cell electric zero-emission trucks."

BayoTech will purchase up to 50 Nikola Class 8 fuel cell electric vehicles over the next five years, with the first twelve trucks being delivered in 2023 and 2024. The Nikola trucks will be paired with BayoTech's HyFill™ bulk hydrogen transport trailers to deliver low-carbon hydrogen to offtake customers from BayoTech's hydrogen production hubs.

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"We're immensely proud to be an industry leader in our commitment to deliver hydrogen to local customers via zero-emission fuel cell trucks," said Mo Vargas, President and CEO, BayoTech. "Partnering with forward-looking companies like Nikola allows us to accelerate the deployment of our hydrogen hub network and stimulate the growth of the hydrogen ecosystem."

The Nikola fuel cell electric vehicle offers a range of up to 500 miles, making it one of the longest-range zero-tailpipe-emission Class 8 trucks available and ideal for various applications, including drayage, intermodal, truckload, less than truckload, and specialized hauling.

Customers rely on BayoTech's HyFill™ bulk hydrogen transport trailers to efficiently move hydrogen to distribution and dispensing sites, and to ultimately the end user, including retail refueling stations, backup power systems in remote areas, and industrial manufacturing sites.

ABOUT NIKOLA CORPORATION

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero tailpipe emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, 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.

ABOUT BAYOTECH

BayoTech, an innovator in hydrogen solutions, is committed to addressing the global need for reliable, cost-effective, and low-carbon hydrogen. BayoTech sites hydrogen production close to demand and distributes it to nearby consumers via high-pressure gas transport and storage equipment. Customers are accelerating the decarbonization of their energy and transportation systems through BayoTech's supply of hydrogen molecules and equipment. Learn more at www.bayotech.us

SOURCE Nikola Corporation