Hyliion Begins Printing Production-Intent Design Components of the KARNO™ Generator
25 January 2024 - 12:33AM
Business Wire
Hyliion Holdings Corp. (NYSE: HYLN), a developer of
sustainable electricity-producing technology, today announced that
it has begun printing parts for its production-intent design of the
KARNO generator (BETA).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240124934250/en/
(Photo: Business Wire)
The KARNO generator leverages additive manufacturing for
production of many of its components including all critical heat
exchangers and thermodynamics systems. This innovative
manufacturing process not only enhances the precision and quality
of these components but also contributes to the overall improved
efficiency of the generator.
“We are thrilled to begin printing the production-intent design
of the KARNO generator which showcases another major step on our
path to deploying this technology with customers,” said Thomas
Healy, Founder and CEO of Hyliion. “The initial 200 kW BETA units
will operate at our Cincinnati, Ohio, development facility in order
to confirm the superior efficiency levels, ultra-low emissions, and
long runtime between maintenance.”
This significant achievement highlights that Hyliion has
completed designs of the major components of the BETA version of
the KARNO generator, and it is now ready for final validation.
Throughout 2024, Hyliion will be completing testing and
verification of the BETA generator to prepare for initial
deployments to early adopters of the technology later this year.
Hyliion will continue to improve the system design and leverage the
flexible capabilities of additive manufacturing. Hyliion is
well-positioned to meet the milestones previously outlined for the
completion of BETA development by the first half of 2024.
Today, Hyliion’s Founder and CEO, Thomas Healy, will be a
featured speaker on "Modern Electrification Needs and the Rise of
Distributed Power Generation" at the POWERGEN International
Conference in New Orleans, LA.
Watch the livestream of the presentation at 2:00 p.m. CT on
Wednesday, January 24th, 2024: bit.ly/3O4ja6A
About the KARNO Generator
The KARNO generator is a fuel-agnostic solution, enabled by
additive manufacturing, that leverages a linear heat generator
architecture. Modular in design, the generator is expected to show
up to 50% fuel efficiency, require significantly lower maintenance
costs, and have a much lower emissions profile than conventional
generators. It is also capable of operating on over 20 different
fuels, including hydrogen, natural gas, propane, ammonia and
conventional fuels.
About Hyliion
Hyliion is committed to creating innovative solutions that
enable clean, flexible and affordable electricity production. The
Company’s primary focus is to provide distributed power generators
that can operate on various fuel sources to future-proof against an
ever-changing energy economy. Headquartered in Austin, Texas, and
with research and development in Cincinnati, Ohio, Hyliion is
addressing the commercial space first with a locally deployable
generator that can offer prime power, peak shaving, and renewables
matching. Beyond stationary power, Hyliion will address mobile
applications such as vehicles and marine. The Company aims to offer
innovative, yet practical solutions that contribute positively to
the environment in the energy economy. For further information,
please visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
present or historical fact included in this press release,
regarding Hyliion and its future financial and operational
performance, as well as its strategy, future operations, estimated
financial position, estimated revenues, and losses, projected
costs, prospects, plans and objectives of management are forward
looking statements. When used in this press release, including any
oral statements made in connection therewith, the words “could,”
“should,” “will,” “may,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” the negative of such terms and
other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on management’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Except as otherwise required
by applicable law, Hyliion expressly disclaims any duty to update
any forward-looking statements, all of which are expressly
qualified by the statements herein, to reflect events or
circumstances after the date of this press release. Hyliion
cautions you that these forward-looking statements are subject to
numerous risks and uncertainties, most of which are difficult to
predict and many of which are beyond the control of Hyliion. These
risks include, but are not limited to, our status as an early stage
the Company with a history of losses, and our expectation of
incurring significant expenses and continuing losses for the
foreseeable future; our ability to develop to develop key
commercial relationships with suppliers and customers; our ability
to retain the services of Thomas Healy, our Chief Executive
Officer; the expected performance of the KARNO generator and
system; the execution of the strategic shift from our powertrain
business to our KARNO business, and the other risks and
uncertainties described under the heading “Risk Factors” in our SEC
filings including in our Annual Report (See item 1A. Risk Factors)
on Form 10-K filed with the Securities and Exchange Commission (the
“SEC”) on February 28, 2023 for the year ended December 31, 2022
and Form 10-Q filed with the SEC on November 8, 2023 for the
quarterly period ended September 30, 2023. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. Should one or more of the risks or
uncertainties described in this press release occur, or should
underlying assumptions prove incorrect, actual results and plans
could different materially from those expressed in any
forward-looking statements. Additional information concerning these
and other factors that may impact Hyliion’s operations and
projections can be found in its filings with the SEC. Hyliion’s SEC
Filings are available publicly on the SEC’s website at www.sec.gov,
and readers are urged to carefully review and consider the various
disclosures made in such filings.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240124934250/en/
Hyliion Holdings Corp. press@hyliion.com Investor Relations
ir@hyliion.com
Hyliion (NYSE:HYLN)
Historical Stock Chart
From Apr 2024 to May 2024
Hyliion (NYSE:HYLN)
Historical Stock Chart
From May 2023 to May 2024