Hyliion Holdings Corp. (NYSE American: HYLN), a developer of sustainable, electricity-producing technologies, today announced that its KARNO™ Power Module has successfully completed 100 days of operation on a customer asset without any hardware-related issues causing unplanned downtime. The system, located at Hyliion’s Cincinnati, Ohio facility, has been undergoing extended operation across a wide range of load conditions as part of ongoing validation and performance characterization for a customer.

Throughout this 100-day period, the KARNO system has completed hundreds of start cycles and logged substantial runtime. While the system did not operate continuously, it underwent extensive and repeated operation to evaluate performance across a range of operating conditions. Hyliion has continued to implement software refinements and system upgrades throughout, and the hardware has demonstrated exceptional robustness and reliability to date. No unplanned downtime occurred due to hardware issues — a key indicator of the system’s low-maintenance design and durable architecture.

“The completion of 100 days of operation without unplanned hardware-related downtime demonstrates the reliability and durability of our technology,” said Thomas Healy, Founder and CEO of Hyliion. “It also reflects the tremendous progress our team has made in advancing the KARNO platform toward commercial readiness and real-world deployment.”

The KARNO Power Module, enabled by additive manufacturing and fuel-agnostic capabilities, is designed to deliver highly efficient, low-emissions power across multiple applications, including data centers, commercial and industrial facilities, and microgrids.

Hyliion continues to make iterative improvements to system controls, software, and operational efficiency as it prepares the KARNO Power Module for broader commercial deployment in 2026. The system’s demonstrated durability, minimal maintenance needs, and adaptability across load conditions further reinforce its potential to deliver reliable, on-demand power across a wide range of applications and industries.

About Hyliion:

Hyliion is committed to creating innovative solutions that enable clean, flexible, and affordable electricity production. The Company’s primary focus is to provide modular power plant technology that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable KARNO Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine vessels. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please 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, our status as an early stage Company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business, and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2025 for the year ended December 31, 2024. 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 differ 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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