Hyliion Hypertruck Innovation Council Member GreenPath Logistics Orders 50 Hypertruck ERX™ Units
February 28 2022 - 8:00AM
Business Wire
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, today
announced that GreenPath Logistics has ordered 50 units backed by
deposits to secure Hypertruck ERX™ production slots. After their
Ride and Drive experience at Hyliion’s headquarters, the
Dallas-based, full-service private fleet—which uses only vehicles
powered by alternative fuels—is the first member of the Hypertruck
Innovation Council to place an order of Hypertruck ERX™ units.
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Hypertruck ERX™ demonstration units
outside of Hyliion’s headquarters in Austin, Texas (Photo: Business
Wire)
An early adopter of Hyliion technology, GreenPath Logistics
placed an initial order of 20 Hybrid eX units in December 2021 and
will collaborate with Hyliion to begin the initial controlled fleet
trials for the Hypertruck ERX™ in their operations later this year,
where they move freight for notable customers such as Amazon, UPS
and the United States Postal Service. With the addition of the
GreenPath Logistics order, Hyliion now has 150 Hypertruck ERX™
production slots confirmed, with reservations for nearly 2,000
additional units.
“GreenPath Logistics’ resolute commitment to sustainability and
alternative fuels make them an incredibly valuable Hypertruck
Innovation Council member, and I’m thrilled that their experience
with our powertrain solutions has led to further collaboration and
the integration of Hypertruck ERX™ units in their fleet,” said
Thomas Healy, Founder and CEO of Hyliion.
“We’re pleased to see corresponding demand for the Hypertruck
ERX™ as a result of the Ride and Drive events we’ve hosted. The
feedback we’ve received has been overwhelmingly positive, and I
look forward to more fleets experiencing the Hypertruck ERX™ and
its benefits firsthand,” Healy added.
“Our commitment to sustainability in the transportation industry
is built into the very fabric of our business, and we are excited
to be able to offer our customers innovative solutions that can
make a significant impact in reducing carbon emissions. The
deployment of Hypertruck ERX™ units in our operations is a
momentous next step in our electrification journey that will
benefit the environment, our company and our drivers,” said James
Purvis, President, GreenPath Logistics.
About the Hypertruck ERX™
The Hypertruck ERX™ is an electric powertrain that is recharged
by an onboard natural gas generator for Class 8 commercial trucks
that aims to provide lower operating costs, emissions reductions,
and superior performance. 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.
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 2022 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 2022 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 filed with the
Securities and Exchange Commission (the “SEC”) on February 24, 2022
for the year ended December 31, 2021. 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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Hyliion Holdings Corp. Ryann Malone press@hyliion.com (833) 495-4466
Sharon Merrill Associates, Inc. Nicholas
Manganaro hyln@investorrelations.com (617)
542-5300
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