Hyliion Acquires Battery Division of Public Company to Meet Growing Demand for Hybrid Electric Long-Haul Trucks

AUSTIN, Texas, July 10, 2018 /PRNewswire/ -- Hyliion today announced the acquisition of their new battery division. Hyliion's intelligent hybrid electric technology is the first and only solution that instantly transforms any Class 8 truck into a diesel hybrid electric to lower fuel consumption and reduce emissions. The battery system was already a critical component of Hyliion's 6x4HE solution. The acquisition will further the company's growth plans and ongoing innovation.

"Batteries are a critical component of any hybrid vehicle. The acquisition provides us with control over the complete battery management supply chain from manufacturing and packaging to software development," said Thomas Healy, founder and CEO of Hyliion. "This is a huge strategic advantage for us."

Unlike other solutions on the market, the Hyliion 6x4HE is designed to capture wasted energy when traveling downhill and applies that power when traveling uphill to keep the engine in its most efficient operating range. Cost-optimized for the trucking industry, Hyliion uses hybrid electrification to deliver fuel savings of up to 30%, lower emissions, instant telematics and a better driver experience. It's easy to install and can be implemented onto new semi-trucks or seamlessly retrofitted onto any Class 8 vehicle. Hyliion utilizes the best battery cell technologies and chemistry with their proprietary packaging and battery management solutions. The acquisition and strategic partnerships with some of the industry's leading companies allow Hyliion to take their hybrid solution a step further.

"The path to fully electrified long-haul fleets has many challenges. Long haul semi-trucks average 600 miles a day. Electric semi-trucks, including Tesla's, are restricted by 300 to 500 miles on a single charge," said Healy. "Unless we regrid the entire country to accommodate power consumption with grids as large as entire cities, a hybrid solution is the only answer that makes sense for long hauls."

Hyliion has strategically partnered with Toshiba, who provides the finest battery cell technology on the market. Hyliion, as Toshiba's preferred packaging and cooling partner in the U.S., then packages the high caliber, high-class li-ion cells and adds cooling and battery management systems for a comprehensive solution. The company has also collaborated with auto industry giant Dana who offers proprietary cooling technology to improve the thermal management of the batteries.

"By cost effectively transforming any semi-truck into a hybrid electric, Hyliion is providing the trucking industry a unique opportunity to capitalize on the vehicle electrification trend," said Darel Reed, National Sales Manager at Toshiba. "We're proud to be part of Hyliion's breakthrough technology and innovation and look forward to sharing in the company's ongoing success."

The battery division team has also joined the company. Hyliion's new battery management solution will be sold to other companies to utilize in various other applications.

"We're thrilled to welcome our new battery team to Hyliion. The battery technology they created is stellar and gives us a clear strategic advantage. They're exceptionally talented, a great culture fit and already an invaluable asset to the company," added Healy.

For more information on Hyliion, please visit http://www.hyliion.com.

About Hyliion
Hyliion offers fleets an easy, efficient way to decrease fuel expenses and lower emissions by instantly turning semi-tractor trailers into intelligent hybrid electric vehicles. Hyliion's patented technology can be used on new or existing vehicles. Requiring no driver training, Hyliion products reduce fuel consumption and emissions by up to 30% and provide a positive return to fleets and the environment immediately. Hyliion was among the Top 20 Product Award winners from Heavy Duty Trucking Magazine for its 6X4HE Intelligent Hybrid Electric Truck Solution. For more information, visit hyliion.com (http://www.hyliion.com).

SOURCE Hyliion

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