The Great Hydrogen Fleet Flip: Nikola’s Collapse Fueled A New Subsidy Play - CleanTechnica

The article "The Great Hydrogen Fleet Flip: Nikola’s Collapse Fueled A New Subsidy Play" from CleanTechnica examines how former Nikola executives have reemerged through Hyroad Energy to continue pursuing hydrogen trucking ventures despite Nikola’s bankruptcy. These executives, who previously secured hundreds of millions in grants and investments for Nikola’s hydrogen truck ambitions, are now acquiring subsidizable hydrogen assets at steeply discounted prices. They repackage these assets as part of a new “fleet transformation” narrative to tap into fresh public funding, even though the fundamental technical challenges, high costs, and limited market demand that doomed Nikola remain unresolved. Hyroad Energy, prior to acquiring Nikola’s assets, had received over $9 million from Texas’s THIVE program to deploy hydrogen Class 8 trucks but had no public record of operating such vehicles. The Nikola assets, originally valued at over $50 million, sold for less than 8% of that amount, highlighting the lack of a viable secondary market for hydrogen trucks. The article