Hyliion’s KARNO Linear Generator Now Qualifies Under California’s Renewables Portfolio Standard (RPS)
Hyliion Holdings Corp. (NYSE: HYLN) announced that its KARNO™ linear generator now qualifies under California's Renewables Portfolio Standard (RPS) following the passage of Assembly Bill 1921. This inclusion allows KARNO to contribute to California's climate goals by delivering low-emission energy solutions using renewable fuels.
The RPS program requires 60% of retail electricity sales to come from renewable sources by 2030, aiming for 100% carbon neutrality by 2045. KARNO's versatility as a fuel-flexible power source, capable of using over 20 fuels including renewable natural gas, hydrogen, and ammonia, positions it to support these goals.
Hyliion's CEO, Thomas Healy, expressed excitement about supporting California's energy goals through their technology, emphasizing KARNO's potential to deliver clean, efficient power generation for growing energy markets.
Hyliion Holdings Corp. (NYSE: HYLN) ha annunciato che il suo generatore lineare KARNO™ ora è conforme allo Standard della Portafoglio di Energie Rinnovabili (RPS) della California, a seguito dell'approvazione della Legge Assembleare 1921. Questa inclusione consente a KARNO di contribuire agli obiettivi climatici della California fornendo soluzioni energetiche a basse emissioni utilizzando combustibili rinnovabili.
Il programma RPS richiede che il 60% delle vendite di elettricità al dettaglio provenga da fonti rinnovabili entro il 2030, con l'obiettivo di raggiungere la neutralità carbonica al 100% entro il 2045. La versatilità di KARNO come fonte di energia flessibile, capace di utilizzare oltre 20 combustibili tra cui gas naturale rinnovabile, idrogeno e ammoniaca, lo pone in una posizione favorevole per supportare questi obiettivi.
Il CEO di Hyliion, Thomas Healy, ha espresso entusiasmo per il supporto degli obiettivi energetici della California attraverso la loro tecnologia, sottolineando il potenziale di KARNO di fornire generazione di energia pulita ed efficiente per i mercati energetici in crescita.
Hyliion Holdings Corp. (NYSE: HYLN) anunció que su generador lineal KARNO™ ahora cumple con el Estándar de Cartera de Energías Renovables (RPS) de California tras la aprobación de la Ley de la Asamblea 1921. Esta inclusión permite que KARNO contribuya a los objetivos climáticos de California al ofrecer soluciones de energía de bajas emisiones utilizando combustibles renovables.
El programa RPS exige que el 60% de las ventas de electricidad al por menor provengan de fuentes renovables para 2030, con el objetivo de lograr una neutralidad de carbono del 100% para 2045. La versatilidad de KARNO como fuente de energía flexible, capaz de utilizar más de 20 combustibles, incluidos gas natural renovable, hidrógeno y amoníaco, lo posiciona para apoyar estos objetivos.
El CEO de Hyliion, Thomas Healy, expresó su entusiasmo por apoyar los objetivos energéticos de California a través de su tecnología, enfatizando el potencial de KARNO para proporcionar generación de energía limpia y eficiente para los mercados energéticos en crecimiento.
Hyliion Holdings Corp. (NYSE: HYLN)는 캘리포니아의 신재생 에너지 포트폴리오 기준(RPS)에 KARNO™ 선형 발전기가 포함되었다고 발표했습니다. 이는 1921호 법안 통과 후 이루어진 것으로, KARNO가 재생 가능한 연료를 사용하여 저배출 에너지 솔루션을 제공함으로써 캘리포니아의 기후 목표에 기여할 수 있게 됩니다.
RPS 프로그램은 2020년까지 소매 전기 판매의 60%가 재생 가능한 자원에서 나와야 하며, 2045년까지 100% 탄소 중립 목표를 세우고 있습니다. KARNO는 20종 이상의 연료, 즉 재생 가능한 천연가스, 수소, 암모니아 등을 사용할 수 있는 연료 유연 전원으로써 이러한 목표를 지원할 위치에 있습니다.
Hyliion의 CEO인 토마스 힐리는 그들의 기술을 통해 캘리포니아의 에너지 목표를 지원할 수 있게 된 것에 대해 흥분을 표명하며, KARNO의 청정하고 효율적인 전력 생성 가능성에 대해 강조했습니다.
Hyliion Holdings Corp. (NYSE: HYLN) a annoncé que son générateur linéaire KARNO™ est désormais conforme à la norme de portefeuille d'énergies renouvelables (RPS) de Californie suite à l'adoption du projet de loi de l'assemblée 1921. Cette inclusion permet à KARNO de contribuer aux objectifs climatiques de la Californie en fournissant des solutions énergétiques à faibles émissions en utilisant des combustibles renouvelables.
Le programme RPS exige que 60 % des ventes d'électricité au détail proviennent de sources renouvelables d'ici 2030, avec pour objectif d'atteindre une neutralité carbone de 100 % d'ici 2045. La polyvalence de KARNO en tant que source d'énergie flexible, capable d'utiliser plus de 20 combustibles, y compris le gaz naturel renouvelable, l'hydrogène et l'ammoniac, le place dans une position favorable pour soutenir ces objectifs.
Le PDG de Hyliion, Thomas Healy, a exprimé son enthousiasme à l'idée de soutenir les objectifs énergétiques de la Californie grâce à leur technologie, soulignant le potentiel de KARNO à fournir une production d'énergie propre et efficace pour les marchés énergétiques en croissance.
Hyliion Holdings Corp. (NYSE: HYLN) gab bekannt, dass ihr KARNO™ Linear Generator nun unter den Anforderungen des Renewables Portfolio Standard (RPS) in Kalifornien qualifiziert ist, nachdem der Gesetzesentwurf 1921 verabschiedet wurde. Diese Aufnahme ermöglicht es KARNO, zu Kaliforniens Klimazielen beizutragen, indem es energieeffiziente Lösungen mit niedrigen Emissionen unter Verwendung erneuerbarer Brennstoffe bereitstellt.
Das RPS-Programm verlangt, dass bis 2030 60% des Einzelhandelsstromverkaufs aus erneuerbaren Quellen stammen, mit dem Ziel, bis 2045 eine Kohlenstoffneutralität von 100% zu erreichen. Die Vielseitigkeit von KARNO als kraftstoffflexible Energiequelle, die über 20 Brennstoffe wie erneuerbares Erdgas, Wasserstoff und Ammoniak nutzen kann, versetzt ihn in die Lage, diese Ziele zu unterstützen.
Der CEO von Hyliion, Thomas Healy, äußerte seine Begeisterung darüber, Kaliforniens Energieziele durch ihre Technologie unterstützen zu können, und betonte das Potenzial von KARNO zur Bereitstellung von sauberer, effizienter Energieerzeugung für wachsende Energiemärkte.
- KARNO linear generator now qualifies under California's Renewables Portfolio Standard
- Potential to contribute to California's climate goals and renewable energy targets
- KARNO technology can use over 20 different fuels, including renewable options
- Positions Hyliion to support California's growing clean energy market
- None.
Insights
The inclusion of Hyliion's KARNO linear generator in California's Renewables Portfolio Standard (RPS) is a significant development for the company. This qualification opens up new market opportunities in one of the largest and most progressive clean energy markets in the U.S. California's ambitious target of 60% renewable energy by 2030 and 100% carbon neutrality by 2045 creates a substantial demand for innovative clean energy solutions.
The KARNO generator's fuel flexibility is a key advantage, allowing it to utilize over 20 different fuel types, including renewable natural gas and hydrogen. This versatility positions Hyliion well in the evolving energy landscape, where adaptability to various renewable fuel sources is crucial. However, it's important to note that while this qualification enhances Hyliion's market potential, the company still needs to demonstrate commercial viability and scalability of the KARNO technology to fully capitalize on this opportunity.
For investors, this development could potentially lead to increased revenue streams and market share for Hyliion in the long term, particularly as California and other states push for greater adoption of renewable energy technologies. However, the impact on Hyliion's financial performance will depend on successful commercialization and adoption rates of the KARNO generator in the coming years.
The KARNO linear generator's qualification under California's RPS is a testament to its innovative design and potential environmental impact. The technology's ability to operate on multiple fuel types, including renewable natural gas, hydrogen and ammonia, positions it as a versatile solution for low to zero-emission energy generation. This flexibility is particularly valuable in the transition to cleaner energy sources, as it can adapt to the evolving fuel landscape and infrastructure development.
From a technical perspective, the KARNO generator's efficiency and emissions profile will be important factors in its market success. While the RPS qualification is promising, Hyliion will need to demonstrate superior performance metrics compared to existing technologies to gain significant market traction. The generator's ability to contribute to both stationary power generation and potentially mobile applications (given Hyliion's background in transportation) could create unique value propositions.
Investors should monitor Hyliion's progress in scaling up production, improving efficiency and securing commercial partnerships or contracts, especially within California's energy sector. The success of the KARNO technology could significantly impact Hyliion's future growth trajectory and market valuation, particularly as the company diversifies beyond its initial focus on electric powertrains for commercial vehicles.
The RPS program requires
“We believe the KARNO technology holds tremendous potential to deliver clean, efficient power generation urgently needed in today’s growing energy markets,” said Thomas Healy, Founder and CEO of Hyliion. “California is leading the way in green initiatives, and we are excited to support their energy goals through our cutting-edge technology, helping to create a more sustainable and resilient energy future.”
To learn more about the Assembly Bill 1921, visit: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202320240AB1921.
To learn more about the Hyliion KARNO generator, visit www.hyliion.com.
About the KARNO Generator
The KARNO generator is a linear heat generator that leverages advanced 3D metal printed components and proprietary flameless oxidation technology to produce clean electricity. Modular in design, the generator is expected to show an improvement in 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
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 Company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability 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 13, 2024 for the year ended December 31, 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 differ 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.
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Hyliion Holdings Corp.
press@hyliion.com
Investor Relations
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Source: Hyliion Holdings Corp.
FAQ
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