Hyliion Partners with Texas-Based Oil & Gas Industry Leader for Fleet Electrification
May 20 2021 - 08:45AM
Business Wire
- Detmar Logistics selects Hyliion to help forge path as early
alternative fuel adopter
- Hyliion supporting Detmar’s vision to fully electrify its fleet
of over 100 trucks in the next five years
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, today
announced that it has partnered with leading frac sand solutions
provider Detmar Logistics LLC. Their first collaboration with a
company serving the oil and gas industry, Hyliion will work closely
with Detmar as they initiate the electrification of their fleet
over the next five years.
“We’re thrilled to be building a lasting relationship with a
business that shares our vision of a net-carbon-negative commercial
transportation industry,” said Hyliion’s Founder and CEO Thomas
Healy. “Detmar is paving the way with their commitment to adopting
alternative fuels, and we look forward to continuing to offer the
practical solutions they need to help realize their goal of
becoming a fully electrified fleet.”
An early adopter of electrification in the oil and gas industry,
Detmar owns and operates 127 trucks and hauls over 200 loads of
fracking sand per day. The logistics company has placed their
initial order of 10 Hyliion Hybrid Electric units, marking the
first step on its path to powering 100% of its fleet by low
emission solutions.
“Oil and gas will continue to be an important part of the
world’s energy future, and it’s imperative that we align with
climate efforts to make our operations sustainable for generations
to come. Hyliion’s approach to electrification by making
improvements to our existing semi-trucks makes the most sense for
us. We also see natural gas playing a significant role as an energy
source for powering electric vehicles in the years ahead,” said
Detmar Logistics President and CEO Matthew Detmar.
Flaring at oil and gas extraction sites is one of the largest
greenhouse gas emitting practices in the industry. However, with an
increasing focus on environmental, social, and corporate governance
(ESG), the infrastructure to convert flare gas into usable CNG
continues to grow, allowing what was once a waste product to be
turned into usable fuel to power electrified trucks, like Hyliion’s
CNG Hybrid and Hypertruck ERX.
“We want to work with our customers to keep American energy
moving forward and oil and gas production sustainable. We believe
in doing our part in pushing toward reliable, low carbon
alternatives and we look forward to achieving that through
Hyliion’s Hybrid solution and the Hypertruck ERX in the future,”
Detmar added.
These initial Hybrid units are being installed on Detmar’s Volvo
trucks at Hyliion’s headquarters in Austin, TX. Hyliion’s Diesel
and CNG Hybrid solutions can be installed on most major Class 8
commercial trucks and are designed to improve performance, reduce
emissions, lower fuel costs, and enhance the driver experience.
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 2021 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 2021 and future product
milestones, the impact of COVID-19 on long-term objectives, the
ability to reduce carbon intensity and greenhouse gas emissions and
the other risks and uncertainties set forth in “Risk Factors”
section of Hyliion’s annual report on Form 10-K/A filed with the
Securities and Exchange Commission (the “SEC”) on May 17, 2021 for
the year ended December 31, 2020. 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 different 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/20210520005305/en/
Hyliion Holdings Corp. Ryann Malone
press@hyliion.com (833) 495-4466
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