- Starts installation of first production Hypertruck ERX
powertrain system
- Unveils KARNO stationary power 200kW representative model
- Expects to generate approximately $10 million in revenue on
sales from vehicles outfitted with Hypertruck ERX and Hybrid
powertrains in 2023
- Plans to begin revenue generation on KARNO stationary power
system in 2024
- Announces plans for day cab version of Hypertruck ERX
platform
- Reiterates guidance on operating expenses for 2023
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified solutions for Class 8 commercial semi-trucks, will
today host an Investor Day at the company headquarters in Austin,
Texas. The event will consist of interactive experiences throughout
the facility and presentations from Hyliion’s management team,
which will begin at 1:00 p.m. ET / 12:00 p.m. CT and can be watched
live at the following link:
https://hyliion-inc-investor-day-2023.open-exchange.net/
Executive Commentary
“We are thrilled to host Hyliion’s first ever, in-person
investor event at our headquarters in Austin. Marking today as the
start of installing our first production Hypertruck ERX powertrain
is a momentous achievement, and I couldn’t be prouder of the entire
team’s work in getting us to this commercialization milestone,”
said Hyliion’s Founder and CEO, Thomas Healy. “I am also happy to
be able to display for the first time a representative model of a
200 kW KARNO stationary power unit, showcasing its small size
relative to the large potential power output it will have,” added
Healy.
Highlights include:
Begins Installation of First Production Hypertruck ERX
System
Installation of the first production Hypertruck ERX system will
commence today at Hyliion’s headquarters. The Company is on track
to begin customer deliveries later this year and to deliver 30
Hypertruck ERX units by the end of 2023.
KARNO Stationary Model Unveiling
Hyliion will unveil a full-scale representative model of the 200
kW KARNO stationary generator unit, to show the size of the
stationary architecture. Additionally, the Company will discuss
potential use cases for the technology, including EV charging,
prime power for buildings, peak shaving, and renewables
matching.
The KARNO stationary unit is expected to operate at similar
efficiencies to modern powerplants, while providing a compact
solution that can be deployed onsite at a facility. The generator
is expected to offer over a 90% reduction in NOx emissions, run on
over 20 different fuel types, require minimal maintenance, and
produce little noise and vibration. Currently in development, the
KARNO stationary generator is expected to be deployed in initial
revenue generating operation in 2024.
Day Cab to be Next Hypertruck ERX Version
Hyliion will announce that the next version of the Hypertruck
ERX platform will be a day cab model and the powertrain is expected
to be ready in 2025. Hyliion has received strong customer requests
for a day cab variant—in addition to its sleeper truck solution—due
to the limited range fleets have experienced with day cab plug-in
electric trucks, and the CARB approval of the Advanced Clean Fleets
Regulation (ACF), which has earlier mandates on day cabs.
Hypertruck Fuel Cell
Hyliion will provide updates on the ongoing development of a
hydrogen fuel cell equipped Hypertruck powertrain. Parker Meeks,
CEO of Hyzon, will present and showcase their recently unveiled 200
kW fuel cell stack. The collaboration is for a single Hyliion
development truck equipped with the Hypertruck powertrain and
Hyzon’s fuel cell stack.
Financial Guidance
The Company today will reiterate financial guidance for 2023,
including full year operating expenses of approximately $130
million, total cash spending of less than $150 million, and no
plans to raise additional capital in 2023. The Company also
projects full-year 2023 revenue of approximately $10 million. For
2024, the Company is expected to have sufficient capital resources
to fund expected Hypertruck ERX powertrain and KARNO generator
development work for initial stationary deployments but will remain
opportunistic about raising additional capital if market conditions
are favorable.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and
greenhouse gas (GHG) emissions of Class 8 commercial trucks by
being a leading provider of electrified powertrain solutions.
Leveraging advanced software algorithms and data analytics
capabilities, Hyliion offers fleets an easy, efficient system to
decrease fuel and operating expenses while seamlessly integrating
with their existing fleet operations. Headquartered in Austin,
Texas, Hyliion designs, develops, and sells electrified powertrain
solutions that are designed to be installed on most major Class 8
commercial trucks, with the goal of transforming the commercial
transportation industry’s environmental impact at scale. For more
information, 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, Hyliion’s ability to disrupt
the powertrain market, Hyliion’s focus in 2023 and beyond, the
effects of Hyliion’s dynamic and proprietary solutions on its
commercial truck customers, accelerated commercialization of the
Hypertruck ERX™, the ability to meet 2023 and future product
milestones, the impact of COVID-19 on long-term objectives, the
ability to reduce carbon intensity and greenhouse gas emissions,
the expected performance and integration of the KARNO generator and
system, and the other risks and uncertainties set forth in “Risk
Factors” section of Hyliion’s annual report on Form 10-K filed with
the Securities and Exchange Commission (the “SEC”) on February 28,
2023 for the year ended December 31, 2022. 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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version on businesswire.com: https://www.businesswire.com/news/home/20230627100564/en/
Hyliion Holdings Corp. Ryann Malone press@Hyliion.com (833)
495-4466
Kellen Ferris kellen.ferris@Hyliion.com (737) 292-8649
Hyliion (NYSE:HYLN)
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