Hyliion
Hyliion, headquartered in Austin, Texas, designs and sells linear generator solutions like the KARNO generator, which operates on over 20 fuel types and is used in various applications. Founded in 2015, the company focuses on innovative, clean, and flexible electricity production.
Company History
Hyliion was founded in 2015 and completed the first prototype of the Hyliion Hybrid™ in 2017. The company relocated its headquarters to Austin, Texas, in 2018. That same year, Hyliion acquired a battery division to enhance its technological capabilities. By 2020, the company had completed the prototype for the Hypertruck ERX™ and was listed on the NYSE under the ticker $HYLN. The first commercialized Hybrid solution was launched in 2021. In 2022, Hyliion acquired KARNO™ technology from General Electric (GE) and began Hypertruck ERX™ production in 2023. The company's first Investor Day was also held in 2023.
KARNO Generator Technology
The KARNO generator, acquired from GE in 2022, employs an advanced linear generator solution that uses heat to drive a sealed electricity-producing linear generator. This technology is designed to operate on more than 20 different types of fuel, making it versatile for various applications, including transportation, stationary, and marine. The KARNO generator is expected to offer significant reductions in maintenance costs and downtime. It utilizes highly efficient flameless oxidation, providing an expected 20% increase in efficiency compared to current leading generators. Its modular design allows it to accommodate various levels of power demand, making it suitable for EV charging, renewables matching, peak shaving, prime power, and waste gas utilization.
Hyliion Hybrid™ and Hypertruck ERX™
Hyliion completed the prototype for the Hyliion Hybrid™ in 2017 and the Hypertruck ERX™ in 2020. The Hyliion Hybrid™ focuses on enhancing the efficiency of vehicles by combining traditional combustion engines with electric power. The Hypertruck ERX™ prototype aims to provide a cleaner and more cost-effective solution for long-haul trucking, using an electric powertrain coupled with a natural gas generator. Hyliion started production of the Hypertruck ERX™ in 2023, demonstrating its ongoing commitment to developing innovative transportation solutions.
Company Headquarters and Facilities
Hyliion is headquartered in Austin, Texas, a move made in 2018 to better align with its growth and operational strategy. The company also has a facility in Cincinnati, Ohio, underscoring its regional presence and commitment to innovation. These strategic locations support Hyliion's mission to develop clean, flexible, and scalable electricity production solutions.
Environmental and Social Governance (ESG) Commitment
Hyliion integrates Environmental, Social, and Governance (ESG) considerations into its decision-making processes. The company is focused on creating innovative solutions that reduce emissions and operational costs for its customers. Hyliion's software solutions further add value to customer experience by optimizing performance and efficiency. The company's mission is to achieve clean, flexible, and scalable electricity production through continual innovation.