Hyliion Holdings Corp. (NYSE American: HYLN), a developer of sustainable electricity-producing technology, today announced the successful operation of its full KARNO™ Core system on diesel fuel. This achievement marks a significant milestone towards the commercialization of the KARNO solution, confirming its operational effectiveness on liquid fuel in addition to its previously validated portfolio of gaseous fuels. During operation at the company’s Cincinnati, Ohio facility, the KARNO system successfully exported power to the grid while meeting stringent Tier 4 Final (T4F) emission requirements without the need for after-treatment systems.

The successful diesel trial demonstrates the KARNO’s unique fuel flexibility which positions it as a competitive power generating solution across a wide range of applications and industries. The KARNO Power module is designed to operate on over 20 fuels, enabling customers to deploy systems using conventional fuels today and seamlessly transition to low-carbon and renewable options as they become more widely available. This versatility reduces customer risk and preserves long-term assets.

Traditional T4F diesel generators rely on complex exhaust after-treatment systems such as SCR, DPF, and ongoing DEF consumption. By contrast, the KARNO Power Module is designed to meet T4F requirements without emissions after-treatment hardware, reducing system complexity and operating costs while improving reliability.

“Operating on liquid fuels meaningfully expands our addressable market and strengthens energy resiliency for customers, including supporting our upcoming deployments in defense applications where diesel is the preferred fuel,” said Thomas Healy, Founder and CEO of Hyliion. “In other mission-critical environments like data centers, the KARNO Power Module will be able to seamlessly switch to onsite diesel if primary fuel sources like pipeline gas are disrupted or unavailable.”

The KARNO Power Module leverages advanced thermodynamics and 3D metal additive manufacturing to generate electricity from heat, rather than traditional combustion. Its fuel-agnostic design enables the system to operate seamlessly on a range of liquid and gaseous fuels including natural gas, hydrogen, ammonia, propane, and diesel, supporting Hyliion’s mission to enable clean, flexible and scalable electricity generation across a wide range of applications and industries.

Hyliion plans to incorporate diesel fuel capability into customer-deployed KARNO Cores beginning in 2026, further expanding the platform’s fuel flexibility and enhancing resiliency for mission-critical applications.

About Hyliion:

Hyliion is committed to creating innovative solutions that enable clean, flexible, and affordable electricity production. The Company’s primary focus is to provide modular power plant technology that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable KARNO Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine vessels. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. 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, our status as an early stage Company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business, and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2025 for the year ended December 31, 2024 and in our subsequently filed Form 10-Qs. 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 differ 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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