Nikola awarded $2 million grant for research on autonomous refueling of hydrogen fueling stations

Shares of Nikola Corp. climbed 3.0% in premarket trading Thursday, after the electric vehicle maker said it was awarded a grant of about $2 million from the U.S. Department of Energy, to support its research into autonomous refueling technologies for hydrogen fueling stations. The company said autonomous fueling is part of the industry's effort for the safe fueling of an onboard storage system to be less than 20 minutes for heavy-duty vehicles. "This funding is essential to advance key hydrogen fueling technologies that can improve the overall efficiency of fuel-cell commercial vehicles, while maintaining the safety and reliability standards required," said Pablo Koziner, president of energy and commercial at Nikola. The stock has dropped 20.5% over the past three months through Wednesday, while the S&P 500 has gained 18.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Nikola awarded $2 million grant for research on autonomous refueling of hydrogen fueling stations
Shares of Nikola Corp. climbed 3.0% in premarket trading Thursday, after the electric vehicle maker said it was awarded a grant of about $2 million from the U.S. Department of Energy, to support its research into autonomous refueling technologies for hydrogen fueling stations. The company said autonomous fueling is part of the industry's effort for the safe fueling of an onboard storage system to be less than 20 minutes for heavy-duty vehicles. "This funding is essential to advance key hydrogen fueling technologies that can improve the overall efficiency of fuel-cell commercial vehicles, while maintaining the safety and reliability standards required," said Pablo Koziner, president of energy and commercial at Nikola. The stock has dropped 20.5% over the past three months through Wednesday, while the S&P 500 has gained 18.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.