Hyliion Holdings Corp (NYSE: HYLN) operating out of Austin, Texas, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. 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.  

Hyliion was founded by an ambitious entrepreneur, mechanical engineer and sports racer Thomas Healy in 2015 to achieve three interlocking goals: Deliver the practical advantages of hybrid and electric technology to commercial fleets. Accelerate innovation and reduce costs in commercial transportation and logistics, and Be a technology leader in the global fight against climate change by delivering solutions that reduce or negate carbon emissions. HYLN became a NYSE listed company as a result of the merger consummated with Tortoise Acquisition Corp on June 18, 2020. 

Hyliion currently offers the Hyliion Hybrid system, which is an electrified powertrain system that augments existing Class 8 semi-trucks and aims to improve vehicle performance or reduce fuel usage, depending on application. The Hybrid system can either be installed on a new vehicle prior to entering service or retrofit onto an existing in-service vehicle. This feature gives the Company’s customers the flexibility to continue using their preferred vehicle brands and maintain their existing fleet maintenance and operations strategies. 

Hyliion began selling the Hybrid system in late 2021 and it has been installed on a variety of its customers’ commercial vehicles, utilizing multiple original equipment manufacturer (“OEM”) platforms. The Company’s Hybrid system deployments are with innovative fleets in the transportation and logistics sector and include a variety of duty cycles, use cases and geographical regions. The Hybrid system aims to improve performance by giving a power boost to the CNG drivetrain when needed, along with regenerative braking and an optional fully electric auxiliary power system. Across these customer installations, and over the entire Hyliion fleet, we have accumulated millions of real-world road miles on Class 8 semi-trucks. 

Hyliion remains on schedule to start Hypertruck ERX system production in late 2023, as the Company continues to achieve the previously announced commercialization milestones. The Hypertruck ERX powertrain platform is a complete electrified powertrain system leveraging an onboard CNG-fueled generator to supplement battery range to transform an OEM platform into a range-extended electric vehicle (“REEV”). Both solutions aim to support our customers’ pursuit of sustainability and financial goals by reducing GHG emissions and operating costs while utilizing existing fueling infrastructure. We plan to begin commercialization of the Hypertruck ERX system in late 2023 and our first application will be deployed on a Class 8 Peterbilt 579 sleeper semi-truck. 

The Hypertruck ERX system leverages the experience and operating data from the Company’s Hybrid system to offer a solution to replace the traditional diesel or CNG powertrain installed in new vehicles. Its onboard CNG generator functions as an electric range-extender, addressing the market need of having a fully electric drive truck that can travel long distance between refuels without relying on a broadly-distributed and reliable electric recharging network, as battery electric vehicles (“BEVs”) do. The systems batteries are recharged by the onboard CNG generator, which when fueled by renewable natural gas (“RNG”), can offer commercial vehicle owners a net-carbon-negative-capable electrified powertrain option. 

Insane short attack on $HYLN with whooping 76.61% short volume ratio on the 24th of April.
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Source: https://t.co/VbW1k0lrad.
.#WSB @Hyliion #shortsqueeze @realThomasHealy pic.twitter.com/0DSzIt1X9q

— Andrius Rutkauskas (@AndriusRut) April 25, 2023

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During the fourth quarter the Company received 10 Hypertruck ERX system orders from DSV Logistics, with an option to buy 10 additional units. DSV is one of the largest third-party logistics companies in the world and is focused on expanding its business in the U.S. As the Company nears completion of its development and testing milestones for the Hypertruck ERX system later in 2023, it expects to see an uptick in additional customer orders for delivery in 2024. 

In September 2022 Hyliion acquired assets including new hydrogen and fuel-agnostic-capable generator technology from General Electric Company’s GE Additive business. The KARNO generator emerged out of GE’s long-running R&D investments in metal additive manufacturing across multiple industries and in areas such as generator thermal and performance design. The KARNO generator is expected to be capable of operating with over 20 different fuel types including hydrogen, natural gas, propane, ammonia and conventional fossil fuels. The technology uses heat to drive a sealed linear generator to produce electricity. The heat is produced by reacting fuels through flameless oxidation or by other heat sources including renewables.  

Hyliion plans to offer a new variant of the Hypertruck ERX system utilizing the fuel-agnostic Hyliion KARNO generator technology (Hypertruck KARNO), and a variant equipped with a hydrogen fuel cell generator (Hypertruck Fuel Cell). The KARNO generator technology is also expected to achieve a meaningful efficiency improvement over today’s conventional internal combustion engine (“ICE”) generators and could be more efficient than most available fuel cells and it should also provide for significant reductions in noise, vibration, moving parts and maintenance compared to conventional ICE generators. 

Hyliion recently inked a deal with Hyzon Motors to develop a fuel cell powered vehicle. This development is the third step in the Company’s multi-stage product roadmap towards a hydrogen future. The vehicle will use Hyliion’s electric powertrain system and Hyzon’s fuel cell technology as the generator. The powertrain will be integrated into a Peterbilt chassis. 

$HYLN @Hyliion

The manipulation by shortsellers and the $GS is REAL! https://t.co/z18C3nQ6gL

EASY DOUBLE IN MY OPINION, Based on their balance sheet alone!

$422mm in cash and short term/long term investments including US Treasuries!

Could be a buyout target at this price! https://t.co/mQfD4dImnV pic.twitter.com/gROLSteYmF

— 🇺🇸 ReliableInvestor ®©️ #CRYPTO #STOCKS #OPTIONS (@ReliableInvesto) April 25, 2023

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Currently trading at a $246 million market valuation HYLN os is 179,714,124 shares outstanding. The Company is well funded moving forward with manageable debt and $422 million of available capital on the balance sheet. As we said, Hyliion has been relentlessly shorted into oblivion and now trades just over $1, a long way from the $50 per share HYLN commanded during the summer of 2020 shortly after going public on the NYSE via a reverse merger with SPAC Tortoise Acquisition Corp. Currently there are over 11 million shares short on HYLN and growing as the Company continues to see rapid progress recently achieving new Hypertruck ERX™ commercialization milestone, obtained more orders for the Hypertruck ERX powertrain and announced a collaboration with Hyzon Motors to jointly develop a fuel cell powered truck. Hyliion also recently acquired the KARNO™ generator technology from GE and obtained 210 orders for production slots for the Hypertruck ERX powertrain. We will be updating on HYLN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in HYLN either long or short and we have not been compensated for this article.