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    TRP   CA87807B1076

TC ENERGY CORPORATION

(TRP)
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TC Energy : signs agreement with Nikola on development of hydrogen hubs

10/07/2021 | 05:38pm EST

CALGARYTC Energy has signed an agreement with electric vehicle manufacturer Nikola to jointly develop large-scale hydrogen production facilities in the U.S. and Canada.

The two companies say they plan to produce 150 tonnes or more of hydrogen per day within the next five years.

The hydrogen hubs will be located near major trucking corridors to help U.S.-based Nikola fuel its heavy-duty fuel cell electric vehicles.

Calgary-based TC Energy says its existing pipeline assets could be used to transport the hydrogen. It says its pipelines could deliver CO2 to sequestration facilities to decarbonize the hydrogen production process.

Nikola president Pablo Koziner says the companies want to produce enough cost-efficient hydrogen to support widespread customer adoption of fuel cell electric vehicles.

The companies did not disclose an investment figure for the proposed project.

This report by The Canadian Press was first published Oct. 7, 2021.

Companies in this story: (TSX:TRP)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
NIKOLA CORPORATION -4.35% 9.46 Delayed Quote.-37.75%
TC ENERGY CORPORATION 0.15% 59.05 Delayed Quote.12.87%
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Analyst Recommendations on TC ENERGY CORPORATION
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Financials
Sales 2021 13 429 M 10 483 M 10 483 M
Net income 2021 2 227 M 1 738 M 1 738 M
Net Debt 2021 51 453 M 40 164 M 40 164 M
P/E ratio 2021 19,9x
Yield 2021 5,89%
Capitalization 57 698 M 45 043 M 45 039 M
EV / Sales 2021 8,13x
EV / Sales 2022 7,62x
Nbr of Employees 7 283
Free-Float 94,0%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 58,92 CAD
Average target price 67,90 CAD
Spread / Average Target 15,2%
EPS Revisions
Managers and Directors
Francois L. Poirier President, Chief Executive Officer & Director
Joel E. Hunter CFO, Chief Risk Officer & Vice President
Siim Alden Vanaselja Chairman
Leslie C. Kass Executive Vice President-Technical Centre
Donald Michael Godfrey Stewart Independent Director
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