Detmar Logistics Reserves 300 Hyliion Hypertruck ERX™ Units, Expanding Fleet Electrification Collaboration
August 02 2021 - 8:30AM
Business Wire
- Hyliion continues to support industry leading logistics firm in
the oil and gas space with a vision of full electrification as it
plans for fleet expansion
- Extended commercial relationship builds on the successful
deployment and operation of Hyliion’s Hybrid Electric units,
purchased by Detmar earlier this year
- Hypertruck ERX™ is a next generation electric powertrain that
is recharged by an onboard natural gas generator – enables long
range and quick refueling – can provide net-negative carbon
emissions to commercial fleets
- 300-unit Hypertruck ERX™ reservation highlights growing demand
for Hyliion’s powertrain solutions from major fleets and logistics
providers
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, today
announced that Detmar Logistics LLC has executed a reservation
agreement covering 300 Hypertruck ERX™ systems. The agreement is
part of Hyliion’s latest collaboration with the Texas-based frac
sand solutions provider, whose reservation marks the next step in
their continued effort to fully electrify their fleet over the next
five years. Detmar is actively expanding their fleet operations and
sees Hyliion’s Hypertruck ERX™ as an enabling technology to
accelerate their growth.
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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.
An early adopter of electrification in the oil and gas industry,
Detmar placed an initial order of 10 Hyliion Hybrid Electric units
earlier this spring. The successful program and deployment—met with
positive feedback from Detmar’s operations team, drivers, and
customers—generated further interest in the Hypertruck ERX™
solution and a longer-term commercial relationship with
Hyliion.
“We are thrilled to add another chapter to a growing
relationship with a business that shares our vision for reducing
carbon emissions in the commercial transportation industry. Detmar
is setting the pace with their commitment to alternative fuels and
their readiness to power their entire fleet with low emission
solutions,” said Thomas Healy, Founder and CEO of Hyliion.
“The demand for the Hypertruck ERX™ is continuing to expand,
especially from companies who are already operating our hybrid
systems and are actively growing the size of their fleets.
Hyliion’s technology offers practical solutions that empower fleets
to make environmentally conscious decisions, while realizing
superior performance, lower operating costs and flexibility,” Healy
added.
“We are very excited for the opportunity to reserve a large
order of Hypertruck ERX™ units and be one of the first trucking
companies to define our path to full electrification in a bold way.
Hyliion has been an exceptional partner as we’ve converted our
trucks to their diesel hybrid system, and the positive feedback
we’ve received from our customers is only matched by their interest
in achieving net-negative carbon emissions with RNG. It’s certainly
opening new doors for our business,” said Matt Detmar, President
and CEO of Detmar Logistics.
“Our drivers are also eager to get behind the wheel of this new
technology. They’ve had an outstanding experience with the hybrid
trucks and their anticipation for the Hypertruck ERX™ is even
greater,” Detmar concluded.
Hyliion will begin showcasing the Hypertruck ERX™ demonstration
units to the Detmar team in late 2021, with trials running in 2022.
The purchase and sale of the 300 Hypertruck ERX™ units is subject
to the execution of a final agreement between Hyliion and Detmar.
In April, Hyliion announced a first of its kind Hypertruck
Innovation Council with leading companies that will test and
provide feedback on the Hypertruck ERX™.
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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Ryann Malone press@hyliion.com (833)
495-4466
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