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AUSTIN, Texas, December 12, 2023–(BUSINESS WIRE)–Hyliion Holdings Corp. (NYSE: HYLN), a developer of sustainable electricity production technology, today announced that its KARNO generator technology has successfully been tested using untreated natural gas directly from the Permian Basin. This achievement highlights the KARNO generator’s innovative fuel-agnostic capability, and further demonstrates a significant step forward in the efficient utilization of natural resources.
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In a test of the KARNO reactor, the generation demonstrated its ability to successfully use raw, unprocessed fuel up to the degrees of heat required for power generation, while maintaining an ultra-low emissions profile.
“This milestone is noteworthy because it highlights the intended operation of the KARNO generator at oil and fuel sites, without the prerequisite of purifying maximum fuels,” said Thomas Healy, founder and CEO of Hyliion. “The oil and fuel industry is one of our priority spaces for immediate adoption as we see an ever-increasing call for destructive flaring. “
Historically, oil and fuel facilities release or burn surplus or unusable fuel; however, the KARNO generator deserves to offer the option of this fuel to generate electricity. By converting this untreated fuel into electricity, the KARNO generator can offer a dual benefit: in particular, reducing emissions compared to popular burning processes and generating a valuable product-profit for sites.
The KARNO generator is also expected to be used in oil and fuel facilities to force on-site appliances and upgrade the use of traditional turbines. Today, in many production facilities, operators send purified fuel to run turbines on-site. The formula deserves to run on fuel sourced directly from the site, eliminating increased expense and logistical complexity.
If you want to learn more about KARNO technology, please join us at Hyliion’s Tech Fireside Chat today, December 12th, at 10:00am CST / 11:00am EST.
Registration link: https://hyliion-inc-karno-fireside-chat-2023. open-exchange. net/
For more detailed information about Hyliion and the KARNO generator, please visit www.hyliion.com.
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, OH, 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 KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. 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 data involved in this press release include “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 offering statements or past facts included in this press release, relating to Hyliion and its long-term monetary and operational functionality, as well as its strategy, long-term operations, estimated monetary position, revenues and losses estimates, their cost projections, their perspectives. Array’s management plans and objectives are forward-looking statements. When used in this press release, adding to any oral statement made in this regard, the words “may”, “should”, “will”, “possibly”, “believe”, “anticipate”, “intend” “, “estimate”, “expect”, “project”, negative terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements imply the identification of such words. These forward-looking statements are based on management’s existing expectations and assumptions relating to long-term events and are based on existing data relating to ultimate results and the timing of long-term events. Except as otherwise required by applicable law, Hyliion expressly disclaims any legal liability. update any forward-looking statements, all of which are expressly qualified by the statements contained herein, to reflect occasions or events after the date of this press release. Array Hyliion cautions you that such forward-looking statements are subject to dangers and uncertainties. Most of which are difficult to imagine and many of which are outside of Hyliion’s control. These dangers include, but are not limited to, our standing as an early-stage company with a history of losses and our expectation of incurring significant expenses and continued losses over the foreseeable long term; our ability to expand key business relationships with suppliers and customers; our ability to retain the facilities of Thomas Healy, our president and leading CEO; the expected functionality of the KARNO generator and system; the execution of the strategic repositioning of our powertrain business to our KARNO business, and other dangers and uncertainties described under the heading “Risk Factors” in our filings with the SEC, adding in our annual report (see ‘Item 1A. Factors risk) on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 28, 2023 for the fiscal year ended December 31, 2022 and Form 10-Q filed with the SEC on November 2023 for the quarterly era ended September December 30, 2023. Given these dangers and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. If one or more of the hazards or uncertainties described in this press release occur, or if underlying assumptions prove incorrect, actual effects and plans may also differ materially from those expressed in the forward-looking statements. Additional data relating to those and other points that could possibly have an effect on Hyliion’s operations and projections may be discovered in its SEC filings. Hyliion’s SEC filings are publicly available on the SEC’s online website at www. sec. gov, and readers are encouraged to carefully review and consider the various facts provided in those filings.
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Contacts
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