Hyliion’s Investor Day to Highlight Hypertruck ERX Powertrain and KARNO Generator Technology and Future Applications

Expects to generate approximately $10 million in revenue on sales from vehicles outfitted with Hypertruck ERX and Hybrid powertrains in 2023

Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), electrified solutions for Class 8 commercial semi-trucks, will 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:

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.

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