Nikola Wins Research Grant From DOE

Scandal-plagued electric truck maker Nikola introduced Thursday that it gained a $two million grant from the U.S. Electrical power Department to produce hydrogen refueling systems.

The grant was formally awarded July seven — 3 months just before Nikola founder Trevor Milton was indicted on 3 counts of prison fraud for lying about “nearly all aspects of the business” to enhance the startup’s inventory income.

“Even just before the indictment, the looming lawful challenges have been effectively identified as the firm disclosed it experienced acquired subpoenas from both of those the Justice Department and the Securities and Exchange Fee,” CNN observed.

Nikola explained the grant was for advancing its research into autonomous refueling systems for long term hydrogen fueling stations. Some of the electric vehicles Nikola is acquiring would be powered by hefty duty hydrogen gasoline cells.

“This funding is critical to progress key hydrogen fueling systems that can strengthen the general performance of gasoline-cell industrial vehicles, while maintaining the protection and reliability requirements necessary,” Pablo Koziner, who qualified prospects Nikola’s hydrogen fueling business, explained in a news release.

Milton was compelled to resign as Nikola’s government chairman in September 2020 after quick-vendor Hindenburg Analysis alleged the firm was “an intricate fraud designed on dozens of lies over the study course of [Milton’s] vocation.” Nikola admitted in a filing previously this calendar year that an inner investigation confirmed Milton experienced deceived buyers.

In response to the grant award, Hindenburg observed that Milton’s indictment quoted him as expressing that “Nikola was making hydrogen and was undertaking so at a minimized value, when [he] understood that in truth no hydrogen was currently being created at all by Nikola, at any value.”

The quick-vendor added that it doubts “a $two million grant will aid transform that lie into a reality.”

In accordance to The Verge, the grant comes at a time when the Electrical power Department “is having ready to ramp up funding action to aid progress the United States’ improvement of clean electricity systems — a precedence underneath President Biden.”

The department “makes funding awards based on a arduous, merit-based overview procedure that incorporates numerous technologies industry experts reviewing apps,” it explained Thursday.

Department of Electrical power, electric vehicles, grants, hydrogen refueling, Nikola, Trevor Milton