Hyliion Holdings Corp (HYLN): Hyliion Holdings Closes Acquisition of G...

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Hyliion Holdings Corp (HYLN)

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Saturday, 10/08/2022 10:21:11 AM

Saturday, October 08, 2022 10:21:11 AM

Hyliion Holdings Closes Acquisition of GE’s Revolutionary Hydrogen and Fuel Agnostic Generator Technology

AUSTIN, Texas, September 27, 2022--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced the September 26th closing of its previously announced deal to acquire a new hydrogen and fuel agnostic capable generator, KARNO™, from GE Additive, part of GE (NYSE: GE) and a world leader in metal additive technologies and manufacturing. Under the terms of the deal, GE received $15 million in cash and approximately $22 million in Hyliion stock.

The KARNO generator will be deployed in Hyliion’s Hypertruck powertrain platform to offer a next-generation, fuel-agnostic semi-truck solution. Hyliion will integrate the Cincinnati-based engineering team that created the KARNO system into the Company’s operations.

https://finance.yahoo.com/news/hyliion-holdings-closes-acquisition-ge-120000565.html

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