Hyliion’s Hypertruck ERX™ Showcased During U.S. Secretary of Energy’s Michigan Manufacturing Facilities Tour
August 09 2021 - 5:33PM
Business Wire
- U.S. Secretary of Energy takes ride in Hypertruck ERX™
demonstration unit
- Current administration’s infrastructure package emphasizes
clean energy technology, EVs and the creation of more jobs in the
sector
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, recently
met with U.S. Secretary of Energy Jennifer Granholm and U.S.
Representative Haley Stevens to showcase the Hypertruck ERX™ at
development collaborator FEV North America’s Auburn Hills, Michigan
facility. The visit was part of a tour to promote the Biden
administration’s $1 trillion bipartisan infrastructure
proposal.
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U.S. Secretary of Energy Jennifer
Granholm and U.S. Representative Haley Stevens take an in-depth
look at the Hyliion Hypertruck ERX ™ during a tour of the FEV North
American Technical Center in Auburn Hills, MI. (Photo: Business
Wire)
Secretary Granholm and Representative Stevens were given an
in-depth overview of the innovative, American-made technology that
powers the Hypertruck ERX™, and also took a ride in a
proof-of-concept unit, experiencing firsthand the quiet power of an
electrified Class 8 truck.
“We were so pleased to showcase the Hypertruck ERX™ to Secretary
Granholm, whose commitment to helping America achieve its goal of
net-zero carbon emissions through innovative clean energy
technology aligns with our vision of an electrified trucking
industry,” said Bobby Cherian, Senior Vice President of Sales and
Supply Chain.
“Hyliion’s powertrain technology provides fleets with a
next-generation solution that empowers them to efficiently address
sustainability goals by reducing their carbon footprint while
bolstering performance,” Cherian added.
The Hypertruck ERX™ is an electric powertrain that is recharged
by an onboard natural gas generator for Class 8 commercial trucks
and will provide lower operating costs, emissions reductions, and
superior performance to fleets nationwide. Utilizing the 700+
commercial natural gas vehicle filling stations across North
America, it enables long range and quick refueling, and when fueled
with renewable natural gas, can provide net-negative carbon
emissions to commercial fleets.
In April, Hyliion announced a first of its kind Hypertruck
Innovation Council with leading fleet and technology companies that
will test and provide feedback on the Hypertruck ERX™. Just last
week, the company noted that one of its current customers, Detmar
Logistics LLC, has executed a reservation agreement covering 300
Hypertruck ERX™, with Hyliion showcasing demonstration units to the
Detmar team in late 2021 and trials running in 2022.
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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Press Contact Ryann Malone press@hyliion.com (833)
495-4466 Investor Contact Louis Baltimore ir@hyliion.com
(833) 495-4466
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