Hyliion Holdings Closes Acquisition of GE’s Revolutionary Hydrogen

Source: www.gulfoilandgas.com 9/27/2022, Location: North America

Hyliion Holdings Corp. , a leader in electrified powertrain solutions for Class 8 semi-trucks, 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 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.

Gulf Oil and Gas
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