HYLN - Hyliion acquires hydrogen and fuel agnostic generator technology from GE

Hyliion ( NYSE: HYLN ) +7.1% pre-market on Thursday after agreeing to acquire the new Karno hydrogen and fuel agnostic capable generator from General Electric ( NYSE: GE ) for $15M in cash and ~$22M in Hyliion common shares.

Hyliion ( HYLN ) expects Karno's technology will achieve at least a 20% efficiency improvement over today's conventional generators and could be more efficient than most available fuel cells, efficiency improvements that should enable fuel cost reductions and improved vehicle range.

The Karno power system is designed to be capable of operating on more than 20 different fuels including hydrogen, natural gas, propane, ammonia and conventional fuels.

Citing Hyliion's ( HYLN ) disappointing Q2 earnings and persistent supply chain problems, Cantor Fitzgerald recently downgraded the stock .

For further details see: