ADDING MULTIMEDIA Hyliion’s Hybrid CNG Solution Receives Positive Feedback Through NW Natural’s Truck Loan Program
May 27 2021 - 11:17AM
Business Wire
- Three Oregon companies saw positive results when testing
Hyliion’s natural gas-powered Hybrid solution under challenging
conditions
- Hybrid-equipped truck powerfully and effectively carried heavy
payloads with ample performance and power
- Loan program successfully showed potential for a significant
reduction in carbon emissions when using a Hyliion Hybrid
solution
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks,
today announced positive initial
results from a truck loan program launched in conjunction
with Portland-based natural gas provider, NW Natural, which featured Hyliion’s Hybrid
CNG solution.
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Hyliion’s Hybrid CNG-equipped truck
delivered more power, enhanced performance, greater sustainability,
and improved operating costs for fleet owners participating in NW
Natural’s truck loan program. (Photo: Business Wire)
As part of the program, Hyliion collaborated with NW Natural to
equip a Freightliner Cascadia day cab with their Hybrid compressed
natural gas (CNG) solution, a self-charging powertrain that boosts
performance by adding up to 120 horsepower to a Class 8
semi-truck–enough power to allow the vehicle to perform more like a
diesel truck.
The Hybrid CNG truck was loaned to three Oregon-area fleet
operators—Baker Rock Resources, Tillamook County Creamery
Association, and Calportland—over a three-week trial period. Each
participant reported that the Hyliion Hybrid solution delivered
more power, greater sustainability, and improved operating
costs.
Thomas Healy, Founder and CEO of Hyliion, said, “Testing our
technology in partnership with reputable fleet operators, and under
real world conditions, is essential as we strive to meet the needs
of our customers as they seek better performing and more
sustainable transportation solutions. We were pleased to learn that
all three fleet operators deemed Hyliion’s Hybrid truck a
compelling solution for their fleets.”
Performance highlights from the truck loan program:
- Baker Rock Resources hauled full loads of construction and
landscaping materials up steep inclines with ample power.
- Tillamook County Creamery Association drivers crossed the
Oregon Coast Range on a winding two-lane highway, easily hauling
heavy loads.
- CalPortland’s transportation team concluded that the Hyliion
Hybrid CNG-equipped truck is easy to operate, with the potential to
significantly lower the fleet’s carbon footprint.
Three test cases:
- Baker Rock Resources is a family-owned business that has
provided construction and landscaping materials to the Portland
area for more than 60 years, with a focus on operating sustainably.
From the first time a driver of the Hyliion Hybrid CNG equipped
truck hauled a full load up a steep hill with ample power, Keith
Peal, Vice President of Marketing and Sales, concluded he’d found a
way to match his company’s environmental goals to its operating
needs. “The demonstration was a complete success, and we absolutely
have plans to add the technology to our fleet,” said Peal.
- Tillamook County Creamery Association, headquartered on
the Oregon coast, has been supplying premium dairy products to
loyal customers across the state for more than a century. To bring
its products to the Portland area, drivers cross the Oregon Coast
Range on a winding two-lane highway—carrying heavy loads. During
the three-week trial, the e-axle boosted speeds while maintaining
optimum power and saving on fuel costs. “Our business is committed
to stewardship, and we’re constantly looking at ways to reduce our
environmental impact and improve efficiency, including our fleet of
16 trucks,” says Tillamook’s Director of Environment &
Community Impact Jocelyn Bridson. “Being able to test a
CNG-electric hybrid truck helped us see firsthand that the
technology available today performs well on our distribution
routes, with enough power to get over mountain passes, and was
straightforward for our drivers. As a result of this trial, we are
assessing the potential to replace our diesel trucks with Hyliion’s
natural gas vehicles.”
- CalPortland is a multi-state operation producing and
delivering cement, concrete, and other construction materials.
CalPortland also has a strong commitment to environmental
protection, advocating for products and practices that yield the
least possible environmental impact. Their transportation team
found the Hyliion Hybrid CNG truck was easy to operate, with the
potential to significantly lower the fleet’s carbon footprint. “The
vehicle provided by Hyliion and NW Natural is a great opportunity
to add an environmentally friendly option for hauling freight,”
said Matthew Meyer, CalPortland’s Director of Fleet Management.
“The CNG hybrid model is extremely promising, and we were very
impressed with the Hyliion team’s support.”
“Natural gas vehicles are popular in North America and
throughout the world because of their significantly lower
greenhouse gas emissions, near zero-point source emissions, and the
ability to use renewable natural gas instead of diesel,” said Chris
Kroeker, NW Natural business development segment manager. “This
innovative, try-it-first truck loan program allowed local fleet
managers to see if this technology fits with their operations – and
Hyliion’s Hybrid solution has proven that it can deliver across the
board in the areas of power, sustainability and return on
investment.”
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/20210527005390/en/
Hyliion Holdings Corp. Ryann Malone
press@hyliion.com 833.495.4466
Louis Baltimore ir@hyliion.com 833.495.4466
NW Natural Dave Santen
media@nwnatural.com
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