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Hyliion Holdings Corp. (HYLN) is a leading provider of electrified solutions for the commercial vehicle industry. The company focuses on reducing carbon intensity and greenhouse gas emissions in the transportation sector by offering innovative powertrain solutions for Class 8 commercial vehicles. Hyliion's goal is to provide these advanced systems at the lowest total cost of ownership.
One of Hyliion's standout innovations is its add-on hybrid system for semi-trailers. By integrating this system, trucking companies can achieve over 30% fuel savings, with a return on investment of less than a year. This system not only reduces operational costs but also enhances the driver’s quality of life and mitigates harmful environmental impacts.
Fuel consumption is a significant concern in the trucking industry, accounting for nearly 40% of operating costs. Hyliion’s smart suspension system addresses this by employing regenerative braking to capture power when the vehicle slows down or descends hills. This captured energy is then reused to assist in acceleration, maximizing efficiency.
Traditionally, trailers have been passive systems, but Hyliion’s innovations introduce active power and technology to trailers. This enables multiple industry challenges to be tackled with a single product. For instance, the system can supply power to the truck while it is parked, allowing the driver to turn off the diesel engine and save over 13% in fuel consumption.
Currently, Hyliion is developing two major powertrain systems: the Hybrid system and the Hypertruck ERX system. These systems aim to transform the long-haul trucking market by providing sustainable and cost-effective solutions.
Hyliion's commitment to sustainability and efficiency positions it as a significant player in the commercial vehicle industry. The company’s products not only reduce costs but also contribute to a greener and more sustainable future.
Hyliion Holdings Corp (NYSE: HYLN) announced an initial order of 10 Hypertruck ERX units from DSV, aimed at reducing carbon emissions in its North American freight operations. DSV, a global leader in logistics, seeks to enhance sustainability through this investment. The deployment of these units will commence in Q1 2024, with DSV having the option to order 10 additional trucks later in the year. This partnership underscores Hyliion's commitment to transforming the commercial transportation sector through electrified powertrain solutions.
Hyliion Holdings Corp. (NYSE: HYLN) announces the appointment of Jeffrey A. (Jay) Craig as the new Chairman of the Board, effective December 12, 2022. Craig succeeds the late Ed Olkkola, who passed away after battling cancer. A seasoned leader, Craig joined Hyliion’s board in February 2022 and has played a key role in advancing the development of the Hypertruck ERX. He aims to support Hyliion's mission to revolutionize commercial trucking with innovative electrification solutions and anticipates production advancements later this year.
On November 30, Hyliion Holdings Corp (NYSE: HYLN) announced its delivery of the iconic Christmas tree to the New York Stock Exchange (NYSE) for the 99th annual lighting ceremony. This event features the first electric semi-truck, the Hyliion Hypertruck ERX, transporting the 18,000-pound Norway Spruce from West Nyack, NY to the NYSE site. CEO Thomas Healy emphasized the partnership as a testament to Hyliion's commitment to sustainability and ESG initiatives, with the Hypertruck ERX moving toward production in 2023 and participating in fleet trials nationwide.
Hyliion Holdings Corp. (NYSE: HYLN) reported its Q3 2022 financial results, generating $0.5 million in revenue and maintaining a cash position of over $455 million. The company closed the acquisition of the KARNO generator from GE Additive, enhancing its hydrogen-fuel capabilities. Hyliion announced its Founders Program for the first 200 Hypertruck ERX units and confirmed the trucks qualify for a 30% tax credit under the Inflation Reduction Act. The updated revenue guidance for 2022 is approximately $2 million, with operating expenses projected at $130 million.
Hyliion Holdings Corp (NYSE: HYLN) will host a conference call on November 9, 2022, at 11:00 a.m. ET to discuss its financial results and outlook following the release of its Q3 2022 results after market close on November 8, 2022. The company focuses on reducing carbon emissions for Class 8 trucks through electrified powertrain solutions, leveraging software and analytics to enhance fleet efficiency. An archived webcast will be available on its Investor Relations website.
Hyliion Holdings Corp (NYSE: HYLN) has completed the acquisition of the KARNO™ hydrogen and fuel-agnostic generator from GE Additive for $15 million in cash and approximately $22 million in stock. This generator will enhance Hyliion's Hypertruck powertrain platform, enabling a more versatile semi-truck solution. The acquisition includes integration of GE's engineering team into Hyliion’s operations, aiming to lower carbon emissions in the commercial trucking sector.
Hyliion Holdings Corp (NYSE: HYLN) hosted a Virtual Ride and Drive event on September 13, 2022, showcasing its Hypertruck ERX powertrain solution. The event included a tour of the Austin, Texas headquarters and live demonstrations, alongside an investor presentation by CEO Thomas Healy and a Q&A session. Following the event, a replay and updated investor presentation will be available on Hyliion's investor relations website. Hyliion focuses on reducing GHG emissions for Class 8 trucks through innovative electrified powertrain solutions.
Hyliion Holdings Corp (NYSE: HYLN) has appointed Jon Panzer as the new Chief Financial Officer. Panzer has over 26 years of experience at Union Pacific Railroad, where he held various senior financial roles. He will manage all financial operations for Hyliion, including planning, analysis, and investor relations. The company's founder and CEO, Thomas Healy, expressed confidence in Panzer's expertise, anticipating significant contributions to Hyliion's growth and technology advancements. Former CFO Sherri Baker has departed from the company as of September 8.
Hyliion Holdings Corp. (NYSE: HYLN) will host a Virtual Ride and Drive on September 13, 2022, at 11:00 a.m. ET. The event will take place virtually from Hyliion’s Austin, Texas headquarters. Attendees can expect a tour, product demonstrations of the Hypertruck ERX, and a presentation by CEO Thomas Healy, followed by a Q&A session. For registration, visit this link. An archived version of the event will be available on the Investor Relations section of Hyliion's website.
Hyliion Holdings Corp (NYSE: HYLN) announced its acquisition of the KARNO hydrogen and fuel agnostic generator from GE Additive for approximately $37 million, comprising $15 million in cash and $22 million in stock. The KARNO generator is poised to enhance efficiency by over 20% compared to conventional generators and can operate on more than 20 fuels, including hydrogen. Expected to meet stringent emissions standards, this technology will be integrated into Hyliion's Hypertruck powertrain platform, advancing its mission in clean energy solutions for Class 8 trucks.
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