Nikola Corporation's Bankruptcy Asset Sale: Hydrogen Trucks and Fuelling Infrastructure
Key Ideas
  • Nikola Corporation is selling 103 fully operational Class 8 hydrogen fuel cell electric trucks and over $100 million worth of fuelling and manufacturing assets through a court-supervised process.
  • The sale includes hydrogen fuel cell stack modules, lithium-ion battery cells, spare parts, testing equipment, and brand-new HYLA-branded mobile and stationary hydrogen refuelling infrastructure.
  • Assets are located in various facilities across the United States and Canada, providing an opportunity for buyers to acquire new hydrogen vehicles, parts, and refuelling systems.
  • Despite the bankruptcy filing, Nikola had made significant strides in hydrogen technology, with the first commercially available hydrogen-powered Class 8 truck and a developed HYLA hydrogen refuelling network.
Nikola Corporation is undergoing an asset liquidation process post its bankruptcy filing earlier in the year. The company is offering 103 fully operational Class 8 hydrogen fuel cell electric trucks and a wide array of fuelling and manufacturing assets for sale. The sale, managed by Gordon Brothers and Nations Capital, includes hydrogen truck inventory, fuelling equipment, and manufacturing assets valued at over $114 million. Additionally, the offering comprises hydrogen fuel cell stack modules, lithium-ion battery cells, spare parts, and brand-new mobile and stationary hydrogen refuelling infrastructure. Interested buyers have the opportunity to acquire these assets located at various Nikola facilities in the United States and Canada. The sale also encompasses the HyFASST testing facility in Phoenix, which is equipped with hydrogen storage assets and testing equipment. Despite the bankruptcy filing, Nikola had previously launched North America’s first commercially available hydrogen-powered Class 8 truck and developed the HYLA hydrogen refuelling network. The company's customers had already covered significant mileage using Nikola's FCEV and battery electric platforms before the bankruptcy. Scott Ribeiro from Gordon Brothers highlighted the sale as a chance for buyers to acquire cutting-edge hydrogen technology, vehicles, parts, and testing equipment.
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