Hyliion acquires GE's KARNO generator for ~$37M; targets Q3 close

Hyliion Holdings Corp.

Purchase price: $15M cash plus 5.5M shares (~$22M) from GE Additive.
KARNO generator expected to be 20%+ more efficient than current top generators.
Technology capable of running on over 20 fuels including hydrogen.
Hyliion to integrate the Cincinnati-based engineering team that developed KARNO.
First Hypertruck ERX (natural gas) due late 2023; KARNO variant to follow.

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