Nikola’s $1.3B federal loan guarantee application for its planned hydrogen production hub in Buckeye has moved to the second phase of the approval process.
The company applied for funding through the U.S. Department of Energy Loan Program Office’s Innovative Clean Energy Loan Guarantee Program.
Nikola acquired the 920-acre Buckeye site south of the Lewis Prison facility for $16.5M in September. After initial construction, the plant could produce up to 30 metric tons of hydrogen per day, with an ultimate expanded capacity of more than 150 tons per day.
The Department of Energy will now review the company’s Part II application and decide whether to proceed with the funding request. If the loan funding goes through, Nikola officials project the facility’s first phase to finish construction in 2024. (Source)
