Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, and
Cummins Inc. (NYSE: CMI) (“Cummins”), a global power solutions
provider, today announced the two companies are joining forces to
optimize the Cummins natural gas engine as the generator for the
Hypertruck ERX powertrain.
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Together the companies plan to obtain key environmental
certifications for Cummins’ natural gas internal combustion engines
to be used in Hyliion’s Hypertruck ERX powertrain. The Hyliion
Hypertruck ERX is an electric range extender semi-truck powertrain
solution using onboard power generation to recharge the
batteries.
“We are excited to work with Hyliion to offer this range
extender electric and natural gas powertrain in the North America
heavy duty truck market,” said J. Michael Taylor, General Manager
Global Powertrain Integration, Cummins Inc. “Natural gas solutions
are an integral part of our journey towards zero emissions.
Integrating our engine with the Hyliion Hypertruck ERX solution is
key to offering our customers a portfolio of powertrains across
many fuel options to meet their sustainability goals.”
The Hyliion Hypertruck ERX offers 75-miles of electric range to
qualify for credits under CARB’s upcoming ZEV mandates and can
achieve up to 1,000 miles of full range through the generator,
greatly reducing range anxiety. Cummins’ ISX12N will be optimized
with the Hyliion Hypertruck ERX, so that it can use the existing
700 natural gas stations across North America for low cost
refueling.
Hyliion and Cummins are two of the companies leading the
industry-wide movement to use alternative fuels to move more
quickly toward zero-emissions, with improved fuel-efficiency and
economic value for customers while also meeting more stringent EPA
and CARB certifications.
“With the shared goal of making commercial trucking more
sustainable, our collaboration with Cummins will undoubtedly
benefit the transportation industry. Attaining EPA and CARB
certifications is a key step on our production path, and I look
forward to working with Cummins to get our Hypertruck ERX on the
road and making a positive impact on the environment,” said Thomas
Healy, Founder and CEO of Hyliion.
Start of production for the Hypertruck ERX with the ISX12N
Cummins natural gas power is anticipated to begin in late 2023.
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.
About Cummins Inc.
Cummins Inc., a global power technology leader, is a corporation
of complementary business segments that design, manufacture,
distribute and service a broad portfolio of power solutions. The
company’s products range from internal combustion, electric and
hybrid integrated power solutions and components including
filtration, aftertreatment, turbochargers, fuel systems, controls
systems, air handling systems, automated transmissions, electric
power generation systems, microgrid controls, batteries,
electrolyzers and fuel cell products. Headquartered in Columbus,
Indiana (U.S.), since its founding in 1919, Cummins employs
approximately 59,900 people committed to powering a more prosperous
world through three global corporate responsibility priorities
critical to healthy communities: education, environment and
equality of opportunity. Cummins serves its customers online,
through a network of company-owned and independent distributor
locations, and through thousands of dealer locations worldwide and
earned about $2.1 billion on sales of $24 billion in 2021. Learn
more at cummins.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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version on businesswire.com: https://www.businesswire.com/news/home/20220628005532/en/
Hyliion Holdings Corp. Ryann Malone
press@hyliion.com (833) 495-4466
Sharon Merrill Associates, Inc. Nicholas Manganaro
hyln@investorrelations.com (617) 542-5300
Cummins Inc. Katie Zarich
katie.zarich@cummins.com (317) 650-6804
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