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  "authorName": "Nikola",
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  "notes": "Includes detailed assumptions, operating expenses, and IRR calculations for a hydrogen station model.",
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      "kind": "callout",
      "text": "Single-station model expected to generate cash to fund future stations and potentially have access to multiple financing options to fund ongoing H2 network development",
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      "text": "HYDROGEN STATION KEY ASSUMPTIONS: $0.035/kWh of electricity, 61.2 kWh needed to produce 1 kg of hydrogen, 11.1 liters required to produce 1 kg of hydrogen, 3 FTE per station, 100% station utilization, 8,000 kg per day, Station useful life of 21 years",
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      "text": "A combination of debt and equity financing (at the station level) may be utilized to maximize capital efficiency and return to shareholders",
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      "text": "1. Assumes station at 100% utilization... 7. Assumes stations are financed with 60% debt, with a maturity of 10 years and a 6% interest rate",
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      "text": "CASH GENERATED PER STATION – 630 TRUCKS (3 LEASE CYCLES) table showing annual cash flow, IRR, and station capex over 21 years.",
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      "text": "Annual Cost to Produce Hydrogen table showing variable and fixed costs, total operating expenses, and cost per kg.",
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      "kind": "title",
      "text": "H2 STATION UNIT ECONOMICS",
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