Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a
developer of sustainable electricity-producing technology,
Victory Clean Energy Inc. (OTC : VYEY) ("Victory"), a
trailblazer in the green hydrogen energy sector, today announced
they have entered into a non-binding letter of intent (LOI). Under
the terms of the agreement, Victory will purchase up to 10 KARNO
generators, to be deployed in the Hydrogen production facilities of
their subsidiary, H2 Energy Group (H2EG). Specializing in
green hydrogen production from renewable biomass, H2EG intends to
utilize the KARNO generators to produce electricity using the
hydrogen-rich syngas derived from the biomass to power their
operations.
Under the terms of the LOI, H2EG is slated to receive their
first five KARNO generators in the second half of 2025, each
capable of producing an estimated power output of 200 kW, with a
total capacity of 1MW. H2EG also plans to leverage the KARNO
generators combined heat and power capabilities and utilize the
excess heat to improve efficiencies in their manufacturing process.
The LOI also includes the option for H2EG to purchase an additional
five KARNO generators upon the successful deployment of initial
units.
"Green Hydrogen, generated from renewable or low-carbon sources,
plays a vital role in advancing global sustainability efforts. At
H2EG, we take pride in producing Green Hydrogen from renewable
biomass at competitive economics using existing technologies," said
Christopher Headrick, Founder and Executive Chairman of H2EG.
"Working with companies like Hyliion further strengthens our
leadership in sustainability and enhances the efficiency of our
hydrogen production facilities."
The KARNO generator is a fuel-agnostic solution that leverages a
linear generator architecture to produce electricity economically
and efficiently. Modular in design, the generator is expected to
run on a range of fuels such as hydrogen, RNG, biogas, propane, and
others, require significantly lower maintenance costs, and have a
much lower emissions profile than conventional technologies.
"Hyliion is thrilled to partner with H2EG, whose groundbreaking
method for producing Green Hydrogen from renewable biomass is
instrumental in propelling clean energy initiatives forward. With
our robust architecture and versatility to run on syngas, Hyliion’s
KARNO generator will be well-suited for providing reliable heat and
power to meet H2EG’s hydrogen production requirements,” said Thomas
Healy, Founder and CEO of Hyliion.
The LOI between Hyliion and H2 Energy Group is subject to the
execution of a binding purchase agreement. For more information
about Hyliion and its innovative electrification solutions, please
visit www.hyliion.com.
About H2 Energy Group
H2 Energy Group, Inc., based in Austin, Texas, utilizes
cutting-edge technology to economically produce Sustainable and
Renewable Hydrogen and Electricity from biomass in remote locations
without reliance on the power grid. For more information, visit
www.h2eg.com. H2 Energy Group is a wholly owned subsidiary of
Victory Clean Energy.
About Victory Clean Energy
Victory Clean Energy is an innovative Green Hydrogen energy
company dedicated to developing and implementing clean, sustainable
low-cost energy solutions with applications across various
industries, including transportation, power generation, and
industrial processes. The Company's pioneering TrueGreen Hydrogen™
production solutions aim to provide clean, reliable, and
cost-effective energy sources to a diverse range of clients.
TrueGreen Hydrogen™ positions the Company as a formidable force in
the low-cost Green Hydrogen sector, focusing on decarbonization in
heavy transportation and industrial Hydrogen markets. With this
commitment, Victory Clean Energy is dedicated to shaping a
sustainable and cleaner future for industries and communities
worldwide. Learn more at www.vyey.io.
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, Ohio, Hyliion is
initially targeting the commercial and waste management industries
with a locally deployable generator that can offer prime power as
well as energy arbitrage opportunities. Beyond stationary power,
Hyliion will address mobile applications such as vehicles and
marine. 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 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
the 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240429842098/en/
Hyliion Holdings Corp. press@hyliion.com
Investor Relations ir@hyliion.com
Contact for Victory Clean Energy: Mark Komonoski Partner
Integrous Communications Direct: 877-255-8483
mkomonoski@integcom.us
Grafico Azioni Hyliion (NYSE:HYLN)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Hyliion (NYSE:HYLN)
Storico
Da Gen 2024 a Gen 2025
