Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Just wanted to point out that the recently announced battery deal with Romeo Power, does not mean that Nikola is changing its strategy with respect to the Hydrogen Fuel Cell Electric Vehicles (HFCEV) trucks. In fact, HFCEV trucks, although powered by hydrogen fuel cells, still need a battery for power management and to take advantage of regenerative breaking, obviously just not as big as for fully electric trucks.
Romeo Power's Brand New State-of-the-Art Manufacturing Center in Orange County, CA will Soon Be a Nikola Factory (Article on Factory From 7/25/2022)
Did you see this. But it looks like this firm chases all mergers.
Under the terms of the agreement, Romeo Power will be acquired by Nikola Corporation (Nasdaq - NKLA) in an all-stock transaction. Under the terms of the merger agreement, the proposed exchange ratio implies a consideration of $0.74 per Romeo share and values 100% of Romeo's equity at approximately $144 million. The investigation concerns whether the Romeo Power Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether the Nikola Corporation is paying too little for the Company. For example, the deal consideration is below the 52-week high of $7.44 for the Company's shares.
Additional information can be found at https://www.brodskysmith.com/cases/romeo-power-inc-nyse-rmo/.
https://www.reddit.com/r/NikolaCorporation/comments/wdscw2/romeo_powers_brand_new_stateoftheart/
https://investors.romeopower.com/news/news-details/2022/Romeo-Power-Announces-Successful-Completion-of-its-Relocation-to-New-State-of-the-Art-Manufacturing-Center-in-Orange-County-CA/default.aspx
Why Nikola's Latest Acquisition Will Be A Game-Changer (Romeo Power)
Aug 1, 2022
I am bag holding too deep on NKLA so just hopeful it keeps rebounding.
Sold some NKLA shares and bought RMO shares for a guaranteed 10% profit if the deal goes through. What's everyone else doing?
Romeo Power was valued at $900 million at the time of the SPAC merger with RMG Acquisition on Dec 30, 2020 (Source https://investorplace.com/2020/12/romeo-power-spac-merger-13-things-to-know-about-rmo-stock-as-it-starts-trading-today/). At its peak in early 2021, the Romeo Power share price was over $22. On February of this year, Romeo Power acquired the portion of the JV with the international battery manufacturer BorgWarner they did not own for $28.6 million, using cash on hand (Source https://investors.romeopower.com/news/news-details/2022/Romeo-Power-Completes-Acquisition-of-Joint-Venture-Interest-From-BorgWarner/default.aspx). Today Nikola announced purchasing 100% of Romeo Power for $144 million (share price $0.74). Sounds like a very good deal to me, for Nikola that is.
Checking a few things this is a very small transaction in terms of shares - 20 -23m. I think we currently have 150m + difference between authorised and outstanding so easily done with current share count.
BUT it would weaken their position if the votes are not in for tomorrow.
It is a significant benefit for the cost of goods sold though big cost reduction on battery packs just as they start ramping up to 10 per day...
UK, I agree, they must have the votes.
From the press release, Nikola will buy Romeo Power for $144 million by exchanging Nikola shares. To calculate how many Nikola shares, or how dilutive this would be for the current Nikola shareholders, I divided the $144 million, by the Friday Nikola share closing price of $6.22 and I get 144/6.22 = approximately 23 million Nikola shares (which I assume is 4.5% of the current outstanding shares, as mentioned in the PR). Is this correct? Sounds like a very good deal to me. Does it make more sense to buy Romeo Power shares below $0.74 to get Nikola shares, or to buy Nikola shares directly on any drop in share price? Opinions?
Despite what they say, they must have the votes for tomorrow meeting then in order to enter an all share purchase agreement.
Yeh!
Nikola Agrees to Acquire Romeo Power, To Bring Battery Pack Engineering and Production In-House
August 01 2022
https://ih.advfn.com/stock-market/NASDAQ/nikola-NKLA/stock-news/88722024/nikola-agrees-to-acquire-romeo-power-to-bring-bat
Summary
- 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)
PHOENIX, Aug. 1, 2022 /PRNewswire/ -- Nikola Corporation (NASDAQ: NKLA), and Romeo Power, Inc. (NYSE: RMO), today announced they have entered into a definitive agreement in which Nikola, a global leader in zero-emissions transportation and energy infrastructure solutions, will acquire Romeo, an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, in an all-stock transaction. The proposed exchange ratio implies a consideration of $0.74 per Romeo share and represents an approximately 34% premium to Romeo's July 29, 2022 closing share price and values 100% of Romeo's equity at approximately $144 million.
Nikola's acquisition of Romeo Power is an important strategic move for Nikola with minimal capital outlay that will bring Romeo’s deep battery and BMS engineering capabilities in-house. It is expected to accelerate Nikola’s product development, increase range and charge rates, and improve customer experiences.
Headquartered in Cypress, California, Romeo is an energy storage technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial vehicle applications. As Romeo's largest customer, Nikola expects the acquisition will allow for significant operational improvement and cost reduction in battery pack production. The addition of Romeo's battery and battery management system (BMS) engineering capabilities are also expected to support accelerated product development and improved performance for Nikola customers.
"Romeo has been a valued supplier to Nikola, and we are excited to further leverage their technological capabilities as the landscape for vehicle electrification grows more sophisticated. With control over the essential battery pack technologies and manufacturing process, we believe we will be able to accelerate the development of our electrification platform and better serve our customers," said Mark Russell, Nikola's Chief Executive Officer. "Given our strong relationship with Romeo and ongoing collaboration, we are confident in our ability to successfully integrate and deliver the many expected strategic and financial benefits of this acquisition. We look forward to creating a zero-emissions future together."
Robert Mancini, Romeo Power's Chairman of the Board of Directors, added, "As Romeo's largest customer, Nikola has been a cornerstone of our development and growth, and this is a natural evolution of our relationship. Our products provide critical energy density important to heavy-duty vehicles, combined with safety performance and battery management software. Following an extensive review of alternatives, we firmly believe that this combination offers the best opportunity for Romeo shareholders to participate in the ongoing value creation at a larger scale, stronger combined company. It is exciting to see Romeo joining the Nikola family."
Compelling Strategic Rationale
- Vertical integration and single product focus will drive significant operational improvement and cost reduction for one of the most expensive components of the bill of materials
- Integrated commercial vehicle electrification platform is expected to lead to manufacturing excellence and expected annual cost savings of up to $350 million by 2026; reduce non-cell related battery pack costs by 30-40% by the end of 2023
- An important strategic move for Nikola with minimal capital outlay that will bring Romeo's deep battery and BMS engineering capabilities in-house; expected to accelerate Nikola's product development, increase range and charge rates, and improve customer experiences
- Provides Nikola with domestic battery pack manufacturing capability, complementing Nikola's commitment to dual-source battery pack strategy to satisfy capacity needs
- Romeo has proven battery pack technologies and a significant battery cell supply agreement in place
- Nikola is Romeo's largest production customer, and the parties have strong ongoing engineering collaboration
Exchange Offer
The transaction has been approved by the Boards of Directors of both companies. Under the terms of the agreement, Nikola will commence an exchange offer to acquire all of the outstanding shares of Romeo common stock. Under the terms of the agreement, Romeo stockholders will receive 0.1186 of a share of Nikola common stock for each Romeo share, representing an equity value of approximately $144 million and 4.5% pro forma ownership of Nikola. The transaction is expected to be completed by the end of October 2022, subject to the tender by Romeo's stockholders of shares representing a majority of the outstanding Romeo common stock, and customary closing conditions, including regulatory approval. Upon the successful completion of the exchange offer, a newly-formed subsidiary of Nikola will be merged into Romeo, and any remaining shares of Romeo common stock that were not tendered in the exchange offer will be canceled and converted into the right to receive the same consideration payable in the exchange offer.
Interim Liquidity Support
Nikola has agreed to provide Romeo with $35 million in interim funding to facilitate continued operations through closing. Funding will consist of $15 million in senior secured notes and up to $20 million for a pack delivery incentive which is a temporary price increase for each pack delivered through expected transaction close. Additional liquidity support is available in the event the transaction closing is delayed.
Investor Presentation
A supplemental presentation regarding the transaction is available on the Investor Relations section of the Nikola website.
Webcast and Conference Call Information
Nikola will host a webcast for analysts and investors at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) on August 1, 2022 at https://www.webcast-eqs.com/nikola20220801/en.
For those unable to participate in the live session, a recording of the webcast will be available on Nikola's Investor Relations website.
Advisors
Citigroup Global Markets Inc. acted as sole financial advisor to Nikola on the transaction, and Pillsbury Winthrop Shaw Pittman LLP served as legal advisor.
Morgan Stanley & Co. LLC acted as sole financial advisor to Romeo on the transaction, and Latham & Watkins LLP served as legal advisor.
Nikola Annual Meeting of Stockholders
Nikola's Annual Meeting of Stockholders is being held on Tuesday, August 2, 2022, at 3:00 p.m. Pacific Time. Nikola intends to file today a supplement to its proxy statement for the Annual Meeting. Nikola has sufficient shares of authorized but unissued common stock available to complete the proposed transition and will not need to use any of the share increase being considered at the Annual Meeting.
About Nikola Corporation
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-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 or Twitter @nikolamotor.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Cypress, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company's suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, follow the Company on social media, @romeopowerinc or visit romeopower.com
Update to my previous post "Highlights from the proposed Schumer/Manchin Reconciliation Bill" https://s3.documentcloud.org/documents/22122281/inflation_reduction_act_of_2022.pdf
Page 393
‘‘SEC. 45W. CREDIT FOR QUALIFIED COMMERCIAL CLEAN VEHICLES.
‘‘(4) LIMITATION.—The amount determined under this subsection with respect to any qualified commercial clean vehicle shall not exceed—
‘‘(A) in the case of a vehicle which has a gross vehicle weight rating of less than 14,000 pounds, $7,500, and
‘‘(B) in the case of a vehicle not described in subparagraph (A), $40,000.
Nikola Corporation (NASDAQ: NKLA)
https://www.reddit.com/r/NikolaCorporation/new/
NKLA Nikola Questions Answered - By Paul@Nikola Motor Company
Jul 29, 2022
Nikola Hydrogen GOLD RUSH is COMING!!!!
Jul 29, 2022
Aug 04, 2022
09:30 AM EDT Nikola Q2 2022 Financial Results and Q&A Webcast
https://nikolamotor.com/investors
Most folks think you install a EV Charging Station somehow the power comes out of the ground into it to power it up, NOPE, it has to be connected to a sometimes overloaded Electrical Grid powered by guess what Fossil Fuels, oh well it makes folks feel better and that is the goal say you are saving the planet sounds nice but not happening here folks on the front end. Oh well stupid is as stupid does.
Not up to date data about fossil fuels.
Solar power from single to fleet sized stations have been displacing the electrical grid hooks ups by the month.
Even the costs to install stations is at a large discount to tearing up property to lay new wiring and sub structures. The cost of batteries has come down tremendously as well, and the cost of charging has come down as much as 1000/1200 dollars a kilowatt hour to 100's an hour. Due to alternative options to charge the vehicle. Not to mention the investments and research into wind turbines as well.
Do a internet satellite map search in china and look at the size of their solar arrays.
Fossil fuel monopoly does not want people to know this.
Highlights from the proposed Schumer/Manchin Reconciliation Bill https://s3.documentcloud.org/documents/22122281/inflation_reduction_act_of_2022.pdf
Page 254
(b) FURTHER EXTENSION FOR CERTAIN ENERGY PROPERTY. Section 48(a)(3)(A)(vii) is amended by striking ‘‘January 1, 2024’’ and inserting ‘‘January 1, 21 2035’’.
(c) PHASEOUT OF CREDIT. Section 48(a) is amended by striking paragraphs (6) and (7) and inserting the following new paragraph:
‘‘(6) PHASEOUT FOR CERTAIN ENERGY PROPERTY. In the case of any qualified fuel cell property, qualified small wind property, or energy property described in clause (i) or clause (ii) of paragraph (3)(A) the construction of which begins after December 31, 2019, and which is placed in service before January 1, 2022, the energy percentage determined under paragraph (2) shall be equal to 26 percent.’’
Page 366
Page 604
GRANTS.
(a) APPROPRIATION. In addition to amounts otherwise available, there is appropriated to the Secretary for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $2,000,000,000, to remain available through September 30, 2031, to provide grants for domestic production of efficient hybrid, plug-in electric hybrid, plug-in electric drive, and hydrogen fuel cell electric vehicles, in accordance with section 712 of the Energy Policy Act of 2005 (42 U.S.C. 16062).
All we can do is wait for the future to come and look back to see what the truth was everywhere...???
The finish line is not tomorrow….. adding for the end goal. :)
NKLA
Nikola Corporation flair_name:"Hydrogen Fueling Stations"
https://www.reddit.com/r/NikolaCorporation/search?q=flair_name%3A%22Hydrogen%20Fueling%20Stations%22&restrict_sr=1
IVECO builds innovative H2 filling station in Ulm as part of Hy-FIVE as a holistic model test for green hydrogen
Ulm, 07-04-2022
This Monday (04.07.2022) the kick-off for the project "HY-FIVE - Model Region Green Hydrogen Baden-Württemberg" took place in Schwäbisch-Gmünd: State Secretary Dr. Andre Baumann from the Ministry of the Environment, Climate and Energy symbolically presented the project consortium with a total funding amount of around 32 million euros.
The funding is provided by the European Regional Development Fund (ERDF) and the state of Baden-Württemberg. The aim of the Hy-FIVE project is to test a hydrogen economy in both rural and urban areas. The activities focus on four flagship projects that map the entire value chain from production to use in industry, transport and district solutions.
Cities, municipalities, project partners from business and science implement the concrete model projects. These include the construction of electrolyzers for hydrogen production, filling station infrastructure and distribution systems. With its joint venture, Nikola Iveco Europe GmbH, IVECO is responsible for the construction of an innovative hydrogen filling station and will at the same time test the necessary infrastructure. Initially, the facility is mainly intended for own use, i.e. for the refueling of the test fleet as well as the first filling of the Nikola Tre FCEV manufactured in Ulm. However, the filling station is successively transferred to public operation. Due to the predicted quantities and market requirements, the filling station is designed as a high-performance plant and can refuel gaseous hydrogen with 700 bar in an amount of about 80 kilograms in 15 to 20 minutes. The quantity is sufficient for a Nikola Tre for more than 800 kilometers. The project is moving on new technological territory and also benefits from the proximity of science based in Ulm (TH Ulm, ZSW). The commissioning of the H2 filling station is for the 1st Quarter 2024.
https://www.reddit.com/r/NikolaCorporation/comments/vr77mg/iveco_builds_h2_stations_in_ulm_04072022/
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169320560
Iveco builds filling station for green hydrogen in Ulm
written by: Patrick Schäfer
07/19/2022
https://www.springerprofessional.de/wasserstoff/nutzfahrzeuge/iveco-errichtet-in-ulm-tankstelle-fuer-gruenen-wasserstoff/23276984#.YtgtJrjXqpk.mailto
The commercial vehicle manufacturer Iveco has built a hydrogen filling station in Ulm as part of the Hy-Five project. It will initially be used and tested by the Nikola Iveco Europe joint venture.
As part of the project "Hy-Five - Model Region Green Hydrogen Baden-Württemberg", Iveco is building a filling station for green hydrogen in Ulm. The high-performance plant can refuel gaseous hydrogen at 700 bar in an amount of about 80 kg in 15 to 20 minutes. Iveco is responsible for the construction with its joint venture "Nikola Iveco Europe" and will test the necessary infrastructure. The filling station is scheduled to go into operation at the beginning of 2024. It will initially be used for the refuelling of the test fleet and the initial filling of the Nikola Tre FCEV manufactured in Ulm, but will then be gradually transferred to public operation.
The aim of the Hy-Five project is to test a hydrogen economy in both rural and urban areas. Four lighthouse projects are intended to map the entire value chain from the production to the use of hydrogen in industry, transport and district solutions: This ranges from the production of hydrogen by hydropower to the development of a system for local and cross-grid storage and transport as well as its use in fuel cell trucks. The project consortium, which also includes several universities and the ZSW Centre for Solar Energy and Hydrogen Research, will be funded until 2027 by the European Regional Development Fund (ERDF) and the state of Baden-Württemberg.
I understand that, I was just trying to encourage anyone here that has not voted yet. Thanks!
US votes are easy and not the issue. Its overseas voters who have issues.
US company and US voters means its a local exchange and relatively easy. People in other countries voting on foreign exchanges is an entirely different thing.
I voted here in the US by calling the number and answering a few questions, easy as that.
Thanks for the info a little bit harder than clicking a link in an email and checking a couple of boxes which is all I did with TD Ameritrade. So there is some likely hood that European processes are one reason the votes haven’t been cast yet.
Just a matter of time I guess but so infuriating. I hope the courts make Trevor’s shares null and void…
Being a Belgian shareholder, I had to email my broker (Bolero) to vote. The customer service emailed me a voting form. Voted “FOR” to all points. Had to send my response to general.meetings@bolero.be with info@bolero.be in CC before 28/06/22.
from what I have seen in other forums there is an issue with European holders of shares not being able to vote, or may be not even knowing about the vote.
I saw some one post that they had just voted with enough exclamation points and other emojis to suggest it had been very long and arduous.
Would love to know the rules round the company reaching out directly to shareholders having got details form their brokers...
So frustrating for this critica vote tobe taking so long - they can't really commit some of their big expenses until they know if it will be from share sales or a regular (expensive by comparison) loan
ATTENTION NIKOLA STOCKHOLDERS - LESS THAN 0.5% OF OUTSTANDING SHARES NEEDED TO PASS PROPOSAL 2!
July 20 2022 - 08:00AM
https://ih.advfn.com/stock-market/NASDAQ/nikola-NKLA/stock-news/88633385/attention-nikola-stockholders-less-than-0-5-of
DEADLINE TO VOTE: August 1, 2022 at 11:59 p.m. Eastern Time
VOTE BY PHONE: North America – (855) 935-2562 or International – 1-(207) 607-7123
VOTE ONLINE: www.proxyvote.com
...
Every vote matters and all stockholders, even if they hold only a handful of shares, play a critical role in approving Proposal 2 to give Nikola the flexibility to support the future growth and development of its business. VOTE FOR Proposal 2 NOW, if you have not already. Stockholders must VOTE by 11:59 p.m., Eastern Time, on August 1, 2022, to ensure their vote is counted.
this is their 1st quarter results for this year and it explains the momentum we have been seeing recently..........we should be getting their 2nd quarter results in about 3 weeks
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169320139
https://www.sec.gov/cgi-bin/browse-edgar?CIK=0001731289&owner=exclude
Hydrogen vs battery trucks | 'H2 may be needed for grid-constrained areas and double shifts, not just long distances'
But cost parity with diesel would be needed for large-scale take-up, and subsidies would help, says industry report
19 July 2022 9:55 GMT
By Leigh Collins
https://www.rechargenews.com/energy-transition/hydrogen-vs-battery-trucks-h2-may-be-needed-for-grid-constrained-areas-and-double-shifts-not-just-long-distances/2-1-1262430
Hydrogen proponents have long stated that H2 will be required for long-distance, heavy-duty road freight, but a new report says it has identified two other use cases where hydrogen trucks would have advantages over battery electric vehicles (BEVs).
The pro-hydrogen trucking group H2Accelerate — a collaboration between oil giants Shell and TotalEnergies, truck makers Daimler, Volvo and Iveco, refiner OMV and industrial gases firm Linde — consulted with more than 10 logistics operators and end-users, including Amazon and DHL, and wrote up its findings in a new “whitepaper”, Understanding and Meeting Customer Expectations for Hydrogen Trucking.
“While logistics operators are aligned with the H2Accelerate view that hydrogen trucking will be required for long-haul, heavy-duty applications due to the operational flexibility it offers, further use cases where hydrogen offers operations advantages over BEVs have been identified,” the eight-page document states. “These include trucks operating in areas with significant grid constraints which will present challenges for BEV charging, and for use cases where vehicles are double shifted, requiring fast refuelling.”
It describes “double shifted” as vehicles that are “driven for two consecutive shifts by two separate drivers”.
“For these applications, waiting for battery vehicles to recharge is not operationally viable, even for relatively short-haul applications,” says the study.
“Logistics operators stressed the importance of hydrogen vehicles in areas where deployment of battery electric vehicles to replace existing fleets would lead to significant grid constraints and would therefore require grid upgrade works. For example, in the Netherlands where zero-emission vehicles will be required in certain urban areas from 2025, it is expected that the current electricity grid will not be able to support demand from battery vehicles. Hydrogen vehicles will therefore be required even in short-range applications for logistics operators to be able to reliably serve these areas.”
Many observers would disagree with such conclusions. Multiple studies have shown that green hydrogen is a highly inefficient fuel for road transport, being far more expensive on a per-kilometre basis than a comparable BEV. Whereas a BEV would be able to utilise 77kW of every 100kW of renewable energy generated, a hydrogen fuel-cell vehicle would only be able to make use of 30kW, according to Brussels-based clean transport campaign group Transport & Environment, meaning that two to three times more renewable energy would be required per kilometre.
And a study published in February by the Fraunhofer Institute for Systems and Innovation Research (ISI) in Germany concluded that hydrogen was unlikely to play a major role in road transport due to high operating costs. It also pointed out that while long-haul trucking of more than 500km per day “poses a challenge” for battery-electric options, European regulations mean truck drivers are required to stop for a 45-minute break after driving for more than four-and-a-half hours.
“Within 4.5 hours, a heavy truck could travel up to around 400km and thus practical [battery] ranges of about 450km would suffice, if high-power fast charging for battery electric trucks was widely available,” said Fraunhofer’s Patrick Plötz, who wrote the peer-reviewed article in the journal Nature Electronics.
“Charging 400km in 45 min for a heavy truck means about 800kW average charging power. The current fast-charging standard... allows up to 350kW. But a new megawatt charging system standard is under development, which should allow over 2MW charging.”
But trying to charge multiple battery trucks simultaneously at the same location would prove very challenging for the grid, and require eight times as many charging points as a hydrogen refuelling network, Craig Knight, CEO of hydrogen truck maker Hyzon Motors, told Recharge in March.
“Organisations consulted during the workshops suggested that battery electric trucks could fulfil the requirements of about 80% of routes based only on range requirement,” said the H2Accelerate report. But it added: “Though it can be more cost effective for fleets to switch to a single technology type, logistics operators expect that most future fleets will be mixed, comprising both battery electric and hydrogen vehicles.”
Cost parity with diesel
The paper also revealed that “while both logistics end users and logistics operators are willing to invest at a premium to trial new technologies such as hydrogen, cost parity with diesel is needed to justify switching whole fleets to the technology”.
“Organisations are, at present, unwilling to explicitly pass on additional costs of zero emissions technologies to customers, eg, through a ‘green premium’.
“If [low-carbon trucking] technologies are not available at reasonable cost, some organisations confirmed that offsetting will be considered to meet targets.”
It suggests that while “hydrogen truck costs as well as the cost of low-carbon hydrogen production are expected to fall significantly over the coming decades… policy has a critical role to play in enabling and accelerating these cost reductions”.
H2Accelerate added that there was “strong support for existing German policies for zero emissions trucking to be adopted across Europe”. These include grant funding of up to 80% of the difference in costs between a diesel and a climate-friendly commercial vehicle, grant funding for up to 80% od the cost of refuelling/recharging infrastructure, and an exemption from road tolls for trucks with alternative propulsion.
Srm4u, thanks. Saw it on Stocktwits, I figured it was old, tried looking for the source but could not find it. Still worth posting.
Nikola Adjourns and Will Reconvene Annual Meeting of Stockholders on August 2, 2022, to Secure the Less than 0.5% of Votes Needed
July 18 2022 - 05:11PM
https://ih.advfn.com/stock-market/NASDAQ/nikola-NKLA/stock-news/88616143/nikola-adjourns-and-will-reconvene-annual-meeting
- VOTE NOW by phone at (855) 935-2562, if in North America, or 1-(207) 607-7123, if international
- VOTE NOW online at www.proxyvote.com
PHOENIX, July 18, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced that its 2022 Annual Meeting of Stockholders has been adjourned to August 2, 2022, at 3:00 p.m. Pacific Time to allow stockholders additional time to vote FOR Proposal 2.
Nikola Corporation Logo (PRNewsfoto/Nikola Corporation)
Nikola stockholders have voted overwhelmingly in favor of Proposal 2 as more than 208 million shares have been voted in favor. As of July 18, the Company is less than 0.5% short of the outstanding shares needed to be voted in favor for Proposal 2 to pass, which equates to less than 1.6 million shares needed. Approximately 105 million shares have not yet been voted on the proposal.
While the other proposals that have received the necessary vote required only a majority of shares voted, Proposal 2 requires a majority of all outstanding common stock to pass. This means Proposal 2 has a much higher threshold needed for approval. Nikola also has a diverse stockholder base with many investors that hold small positions in the company, making every vote received meaningful.
Nikola is urging ALL stockholders to vote IMMEDIATELY FOR Proposal 2, which would allow Nikola to increase the authorized number of shares of common stock to 800 million, providing the Company greater flexibility to support the future growth and development of the business.
"Thanks to the overwhelming support of our stockholders, we are getting closer to securing the number of votes needed to approve Proposal 2, with less than 1.6 million shares still needed. We urge all stockholders – regardless of the number of shares you own – to vote today and play a role in supporting Nikola's business objectives and advancing our vision of a zero-emissions future," said Mark Russell, Nikola's Chief Executive Officer.
Every single vote matters. Stockholders must ACTIVELY VOTE by 11:59 p.m., Eastern Time, on August 1, 2022, to ensure their vote is counted. The record date for the adjourned annual meeting continues to be April 4, 2022. No additional action is required for stockholders who have already voted.
As previously communicated, the requisite number of votes have been received to approve Proposal 1, Election of Directors, Proposal 3, Non-binding Advisory Vote on Executive Compensation, and Proposal 4, Ratification of Appointment of Independent Registered Public Accounting Firm.
Voting is quick and simple:
- BY PHONE: Please call Alliance Advisors, Nikola's proxy solicitor, toll-free, at (855) 935-2562. International voters can call 1-(207) 607-7123. You can also contact Alliance Advisors if you have any questions about voting.
- Retail investors, including individual stockholders who purchased shares through app-based brokers, should call the relevant number above.
- BY INTERNET: Vote at www.proxyvote.com using your control number by following the instructions shared by your broker, bank or other nominee.
- If you are a Robinhood holder, you can vote your shares at www.proxypush.com and follow the instructions you have received.
The adjourned annual meeting will continue to be held at www.virtualshareholdermeeting.com/NKLA2022 via live audio webcast.
About Nikola Corporation
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-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 or Twitter @nikolamotor.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/nikola-adjourns-and-will-reconvene-annual-meeting-of-stockholders-on-august-2--2022--to-secure-the-less-than-0-5-of-votes-needed-301588559.html
SOURCE Nikola Corporation
Copyright 2022 PR Newswire
2022 Annual Meeting of Stockholders, which will be held virtually on July 18, 2022, at 2:00 p.m. Pacific Time.
so when do we find out if we got the votes?
Can they postpone the meeting again?
Seeing over 100 cabs and frames in the flyover videos. production ramping up now - may be 10 a day soon? at what $350,000 revenue each?
Record order sends share price "through the roof" according to the Germans...
https://www.deraktionaer.de/artikel/mobilitaet-oel-energie/nel-rekordauftrag-20253350.html
I assume this is from Nikola but could be others.
(Chrome translated this for me:)
The Norwegian hydrogen company Nel has invested heavily in expanding its capacities in recent years. Gradually, the strategy seems to be paying off: On Monday, the company can announce a record order for alkaline electrolysers over 200 megawatts from a long-standing US customer. A liberation for the share.
Specifically, Nel is to deliver electrolyser stacks, which is a firm order worth over 45 million euros. Production and delivery is scheduled to take place between February 2023 and mid-2024. Subject to an ongoing technical study, Nel may also have the option to supply additional equipment for the project, it said.
"We are very pleased to announce Nel's largest order to date. This project will demonstrate Nel's delivery and execution capabilities on a large scale and will be a valuable reference for future large orders," said new Nel boss Håkon full dal. "It will have a significant, positive impact on Nel's finances, electrolyser product and production costs, technology development and scale-up plans."
Investors reward the major order with a price increase of ten percent. As a result, the chart image brightens up significantly for the hydrogen value. In the euro listing, the paper is scratching the 200-day line – a sustained leap above it would be another positive signal.
Nel (WKN: A0B733)
DER AKTIONÄR has repeatedly emphasized in recent months that Nel must finally land larger orders in order to justify a billion-euro valuation in the long term. The record order is a step in the right direction – the title is up three percent in early trading. The hydrogen share is still only suitable for risk-conscious investors. Before entering the market, however, further positive chart impulses should be awaited.
“Eureka moment” as Australian researchers make hydrogen storage breakthrough
Sophie Vorrath 15 July 2022
https://reneweconomy.com.au/eureka-moment-as-australian-researchers-make-hydrogen-storage-breakthrough/
Australian researchers have found a novel way to separate, store and transport huge amounts of gas safely that could wind up being the missing piece of the puzzle for renewable hydrogen.
Renewable hydrogen figures enormously in the net zero emissions plans of Australia – particularly in the hard to decarbonise sectors of industry and heavy transport. But storing and transporting large quantities of gases for practical application remains a major challenge.
A team from Deakin University’s Institute for Frontier Materials (IFM) in Melbourne says it has found a new mechanochemical way of separating and storing gases, which is safe, uses a tiny fraction of the energy compared to traditional methods and creates zero waste.
The team says the breakthrough, detailed in the journal Materials Today, is such a departure from accepted wisdom on gas separation and storage that it had to be repeated 20 to 30 times before it could be believed.
“We were so surprised to see this happen, but each time we kept getting the exact same result, it was a eureka moment,” said lead researcher Dr Srikanth Mateti.
“There is no waste, the process requires no harsh chemicals and creates no by-products. …This means you could store hydrogen anywhere and use it whenever it’s needed.”
The breakthrough is the culmination of three decades of work led by Alfred Deakin Professor Ying (Ian) Chen, IFM’s Chair of Nanotechnology, and his team.
The hero ingredient in the breakthrough is boron nitride powder, which is has a knack for absorbing substances, being small, but with a large amount of surface area. It’s also classed as a “level-0 chemical,” something that is deemed perfectly safe to have in your house.
The researchers put boron nitride powder into a ball mill – a type of grinder containing small stainless-steel balls in a chamber – along with the gases that need to be separated.
As the chamber rotates at a higher and higher speed, the balls collide with the powder and the wall of the chamber triggers a mechanochemical reaction resulting in gas being absorbed into the powder.
One type of gas is absorbed quicker, separating it out from the others, and allowing it to be easily removed from the mill. The process can be repeated over several stages to separate the gases one by one.
All up, the process consumes 76.8 KJ/s to store and separate 1000L of gases, which means it uses at least 90 per cent less than the current gas separation process commonly used in the petroluem industry.
Even more significantly, once the gas is absorbed into the powder it gas can be transported safely and easily. When the gas is needed, the powder can be simply heated in a vacuum to release the gas unchanged.
“The current way of storing hydrogen is in a high-pressure tank, or by cooling the gas down to a liquid form. Both require large amounts of energy, as well as dangerous processes and chemicals,” said Professor Chen.
“We show there’s mechanochemical alternative, using ball milling to store gas in the nanomaterial at room temperature. It doesn’t require high pressure or low temperatures, so it would offer a much cheaper and safer way to develop things like hydrogen powered vehicles.
The next step for the IFM team is to gather industry support and scale the process up to a full pilot. A provisional patent application has been submitted for the process.
“We need to further validate this method with industry to develop a practical application,” Professor Chen said.
“To move this from the laboratory to a larger industry scale we need to verify that this process is cost saving, more efficient, and quicker than traditional methods of gas separation and storage.”
Signalco1, great posts, thanks for sharing, welcome aboard.
Lets look at the Nikola CEO Michael Lochscheller
https://en.wikipedia.org/wiki/Michael_Lohscheller
If you want a well made vehicle or truck - no one better than
German engineers - I am glad this man is in the lead of this Company
The Original Nikola Founder had the vision - this new CEO, Actually
can get this company moving up a hill and will overcome obstacles -
like anything new, money will always be obstacles - someone get Elon on the
phone - we only need a few billion not 44 billion what he may end of
spending on Twitter. Seriously not kidding give him a Tweet- for go
his Tesla Semi - put that money here. GLTA Very bullish on this company.
Post I posted on Stocktwits from Youtuber seemed/interesting
https://stocktwits.com/Signalco1/message/472218056
I voted weeks ago... ???
Pay week…. Added more this morning …. Under $6??? Crazy days to talk about a year from now!!!!
:)
NKLA
NIKOLA STOCKHOLDERS VOTE NOW: Less than 1% of Outstanding Shares Needed to Approve Proposal 2
Published July 14, 2022
- DEADLINE TO VOTE: 11:59 p.m., Eastern Time on July 17, 2022
- VOTE NOW by phone at (855) 935-2562, if in North America, or 1-(207) 607-7123, if international
- VOTE NOW online at www.proxyvote.com
PHOENIX – July 14, 2022 -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, strongly urges ALL stockholders to vote IMMEDIATELY for Proposal 2 ahead of the Annual Meeting of Stockholders on July 18, 2022.
With the support of our stockholders, Nikola is now less than 1% short of the outstanding shares needed to be voted in favor for Proposal 2 to pass. Proposal 2 is important as it will allow Nikola to increase the authorized number of shares of common stock it can issue from 600 million to 800 million, providing the Company more flexibility to support the future growth and development of the business.
Nikola is getting closer to securing the number of votes needed to approve Proposal 2, but we are not there yet, with only a few days remaining to vote. Every vote matters and all stockholders, regardless of the number of shares they hold, play a critical role in helping Nikola get the additional votes for approval. Cast your vote FOR Proposal 2 NOW, if you have not already.
Stockholders must VOTE by 11:59 p.m., Eastern Time, on July 17, 2022, to ensure their vote is counted.
VOTE NOW to SUPPORT NIKOLA:
BY PHONE: Please call Alliance Advisors, Nikola's proxy solicitor, toll-free, at (855) 935-2562. International voters can call 1-(207) 607-7123. You can also contact Alliance Advisors if you have any questions about voting.
Retail investors, including individual stockholders who purchased shares through app-based brokers, should call the relevant number above.
BY INTERNET: Vote at www.proxyvote.com using your control number by following the instructions shared by your broker, bank or other nominee.
If you are a Robinhood holder, you can vote your shares at www.proxypush.com and follow the instructions you have received.
The 2022 Annual Meeting of Stockholders will be held virtually on Monday, July 18, 2022, at 2:00 p.m. Pacific Time at https://east.virtualshareholdermeeting.com/vsm/web?pvskey=NKLA2022 via live audio webcast. Nikola strongly encourages ALL stockholders of record at the close of business on April 4, 2022, to vote their shares by 11:59 p.m., Eastern Time, on July 17, 2022, even if they no longer own them.
ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-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 or Twitter @nikolamotor.
INVESTOR INQUIRIES
investors@nikolamotor.com
MEDIA INQUIRIES
Nicole Rose
nicole.rose@nikolamotor.com
480-660-6893
Colleen Robar
crobar@robarpr.com
313-207-5960
Nikola Motor
Nikola Corporation | www.nikolamotor.com
4141 E Broadway Rd | Phoenix | AZ | 85040
cannot believe they dont have the votes yet - less than 1% to go but sill. who hasn't voted?
Anyone know how do ETF's and the like vote? I am sure my vanguard funds in my 401K have Nikkola shares want to make sure they are voting yes. I assume tey vote with the board recommendations but would like to know.
Followers
|
273
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
10956
|
Created
|
03/03/20
|
Type
|
Free
|
Moderators WeTheMarket |
Nikola and VectoIQ Acquisition Corp. Announce Closing of Business Combination
Published June 03, 2020
https://nikolamotor.com/press_releases/nikola-and-vectoiq-acquisition-corp-announce-closing-of-business-combination-77
Steve Girsky
Girsky was GM Vice Chairman from March 2010 through January 2014. During that time he was responsible for several functional areas, including:
Global corporate strategy,
New business development,
Global product planning and program management,
Global connected customer/OnStar, and
GM Ventures LLC and global research & development.
Girsky also served as Chairman of the Adam Opel AG Supervisory Board and as interim President of GM Europe during this time frame, a critical period in
which the company established its current 'Drive Opel 2022' strategy. Girsky also held responsibility for GM's Global Purchasing and Supply Chain function
from 2011 to 2013, and served as Senior Advisor to General Motors from January 2014 to July 2014.
https://investor.gm.com/news-releases/news-release-details/gm-announces-stephen-girsky-retire-board-directors
https://www.freightwaves.com/news/shell-stuffing-how-nikola-became-vectoiqs-public-preference
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165678224
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165764942
Nikola and TC Energy Sign Joint Development Agreement
for Co-Development of Large-Scale Clean Hydrogen Hubs
October 7, 2021
Nikola and TC Energy sign joint development agreement for co-development of large-scale clean hydrogen hubs. Nikola Corporation (Nasdaq: NKLA), (Nikola),
a global leader in zero-emissions transportation and energy infrastructure solutions, and TC Energy Corporation (TSX,NYSE: TRP), (TC Energy), a leading
North American energy infrastructure company, have agreed to collaborate on co-developing, constructing, operating and owning large-scale hydrogen
production facilities (hubs) in the United States and Canada.
https://hydrogen-central.com/nikola-tc-energy-agreement-hydrogen-hubs/
#NationalHydrogenDay celebrations continue with a sneak peek of all things happeningat our Coolidge
manufacturing facility, including our Nikola Tre #FCEV, for our next episode of the #DrivingChange series!
1:57 PM · Oct 8, 2021
https://twitter.com/i/status/1446565427493044225
Hydrogen Heavy Duty Vehicle Industry Group Partners to Standardize Hydrogen Refueling,
Bringing Hydrogen Closer to Wide Scale Adoption
Published October 08, 2021
https://nikolamotor.com/press_releases/hydrogen-heavy-duty-vehicle-industry-group-partners-
to-standardize-hydrogen-refueling-bringing-hydrogen-closer-to-wide-scale-adoption-137
Gettin' it done. Season 2 of #DrivingChange starts with the continued journey
of the #NikolaTre FCEV alpha builds in Coolidge, Arizona.
November 3, 2021
https://www.facebook.com/nikolamotorcompany/videos/driving-change-season-2-episode-1-
get-it-done/1259891077770836/?__so__=permalink&__rv__=related_videos
https://www.youtube.com/watch?v=RokrKePeRrk
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |