It was the awesome occasions, it was the most noticeably awful of times for zero-emission truck maker Nikola.
The company on Thursday said it has been granted a $2 million grant by the Department of Energy — only weeks after Nikola founder Trevor Milton was criminally charged by for misleading financial backers about “practically all parts of the business.”
Milton moved away from the company in September after a condemning report from short-selling activist firm Hindenburg Research accusing Milton of misleading financial backers with a video that made it seem as though one of Nikola’s trucks was driving when indeed the vehicle was just moving down a slope.
Nikola says Milton, who was criminally charged by Manhattan government examiners on July 29. is as of now not engaged with the company. He actually holds about 16% of the shares exceptional, notwithstanding.
Nikola has not been charged, yet has been summoned by the SEC and the Department of Justice. It is additionally managing multiple shareholder lawsuits.
The grant comes as the Biden Administration hopes to increase interest in clean energy. What’s more, Nikola — while it still can’t seem to really make any trucks since its establishing in 2014 — has said it plans to produce up to 50 electric trucks before the year’s over.
At first the company anticipated it would make up to 100 trucks, yet retreated recently, saying it doesn’t have the necessary parts to make that many trucks.
The company has recently gotten a $1.7 million grant from the Energy Department. The latest financing will be utilized for “research into independent refueling advances for future hydrogen fueling station,” the company said.
“This financing is vital for advance key hydrogen fueling innovations that can work on the general productivity of fuel-cell commercial vehicles, while keeping up with the security and dependability guidelines required,” Nikola President Pablo Koziner said in an explanation.
Nikola was granted the grant on July seventh however stood by to declare the news until Friday.