Hyliion closes acquisition of GE Additive's KARNO generator business for $15M cash + $22M stock

Hyliion Holdings Corp.

Deal closed Sept. 26, 2022; Hyliion buys certain assets and assumes certain liabilities of GE's KARNO heat engine business.
GE received $15M in cash and approximately $22M in Hyliion common stock as total consideration.
KARNO hydrogen and fuel-agnostic generator will be deployed in Hyliion's Hypertruck powertrain platform.
Hyliion will integrate the Cincinnati-based KARNO engineering team into its operations.

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