Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a developer of sustainable electricity-producing technology, and BayoTech, an innovator in hydrogen production, transportation and storage solutions, announced the signing of a Partnership Agreement (Agreement) aimed at leveraging the expertise of both companies to offer comprehensive power solutions to their existing and future customers. The partnership will allow the companies to introduce their innovative solutions to each other's customer bases.

Recognizing the complementary nature of their products and customer needs, the companies have entered into the Agreement to support the advancement of sustainable power generation using hydrogen. Hyliion's innovative KARNO generator, which can operate on multiple fuel types including hydrogen, is designed for a variety of applications such as prime power, renewables matching, and for energy arbitrage. BayoTech’s BayoGaaS hydrogen production hubs and their highly efficient, high-pressure transport trailers and storage units aim to ensure a reliable hydrogen supply chain for customers. This partnership will enhance the product offerings of both companies, supporting the shift towards more sustainable power solutions across industries.

“By pairing BayoTech's hydrogen solutions with Hyliion's KARNO generator technology, we will empower customers with a cleaner, more efficient alternative to traditional diesel gensets,” said Mauricio “Mo” Vargas, President and CEO of BayoTech. “Our commitment to revolutionizing the hydrogen supply chain through local production hubs aligns perfectly with Hyliion's mission to deliver net-zero carbon electricity. Together, we're not just challenging the status quo – we're reshaping it for a more sustainable future."

"Hydrogen holds great potential as a zero-carbon energy source, yet its widespread adoption faces infrastructural challenges. Companies like BayoTech solve this problem, allowing customers to use hydrogen in their operations today. Our collaboration will provide a comprehensive solution in the future tailored to customers' needs, accelerating a faster adoption of new power generation technologies," said Thomas Healy, Founder and CEO of Hyliion.

Hyliion's KARNO generator is currently undergoing advanced stages of development and is slated for field deployment with early adopter customers in the latter half of 2024.

BayoTech | www.bayotech.us

Hyliion | www.hyliion.com