How much funding has Hyliion Holdings raised?

Hyliion Holdings has raised $46M in total funding. Key investors include US Department of Energy; Tortoise Acquisition Corp.; PIPE Investors; Cedar Park City Council.

Who is the CEO of Hyliion Holdings?

Thomas Healy is the CEO of Hyliion Holdings. The company was founded in 2015.

Where is Hyliion Holdings located?

Hyliion Holdings is headquartered in Austin, Texas.

What products does Hyliion Holdings offer?

Hyliion Holdings's key products include: ["KARNO™ generator","Distributed power generation solutions"].

What funding stage is Hyliion Holdings at?

Hyliion Holdings is currently at the Active stage.

How many employees does Hyliion Holdings have?

Hyliion Holdings has approximately 51-200 employees.

Hyliion Holdings

Name: AM Companies Database
Creator: AMPulse
License: https://creativecommons.org/licenses/by/4.0/

HardwareAustin, TexasFounded 2015· One of 1708 Hardware companies tracked by AMPulse

The KARNO™ generator is a fuel-agnostic technology that converts various types of fuels into electricity, providing distributed and sustainable power solutions.

CEO / Founder: Thomas Healy
Team Size: 51-200
Stage: Active
Total Funding: $46M
Latest Round: Grant
Key Investors: US Department of Energy; Tortoise Acquisition Corp.; PIPE Investors; Cedar Park City Council

Technology & Products

Key Products

["KARNO™ generator","Distributed power generation solutions"]

Technological Advantage

Utilizes advanced additive manufacturing techniques to enhance production efficiency and product precision.

Differentiation

Value Proposition

Reduces methane emissions, lowers maintenance costs, and delivers efficient energy conversion from a wide range of fuel sources.

How They Differentiate

Differentiates through its fuel-agnostic technology and the integration of advanced additive manufacturing, reducing emissions and maintenance costs.

Market & Competition

Target Customers

Oil and gas industry, industrial and commercial sectors requiring distributed power solutions.

Industry Verticals

["Oil and gas","Industrial","Commercial","Military (potential)"]

Competitors

Bloom Energy; Traditional power generation companies

Growth & Milestones

Growth Metrics

Projected 743% revenue growth in 2024.

Major Milestones

["Successful tests with untreated natural gas","Scaling up production with the M Line additive manufacturing system","Securing significant grants and contracts"]

Notable Customers

ElectriGen LLC; U.S. Office of Naval Research; U.S. Department of Defense

https://www.hyliion.com

Why this company matters

Hyliion Holdings Corp. positions its KARNO generator as a fuel-agnostic alternative to traditional combustion-based power generation, targeting distributed energy markets where fuel flexibility and lower emissions are critical. The company's core differentiator is the ability to convert over 20 fuel types—including untreated natural gas—into electricity without the high methane slip associated with conventional reciprocating engines.

The KARNO generator relies on metal additive manufacturing (AM) for key components, a production approach that Hyliion states improves precision and manufacturing efficiency. The company has scaled production using the M Line additive manufacturing system from Colibrium Additive, moving from prototyping toward serial production of complex metal parts that would be difficult or costly to cast or machine.

Hyliion's target customers include oil and gas operators needing flare-gas capture or remote power, data center operators seeking low-emission backup generation, and military end users requiring fuel-flexible field power. Named customers and partners include ElectriGen LLC for distribution and the U.S. Office of Naval Research for defense applications. The company also holds a grant from the U.S. Department of Energy.

The primary competitive risk comes from established fuel-cell and generator manufacturers such as Bloom Energy, as well as traditional diesel and natural gas generator OEMs. Hyliion's bet on metal AM for production scalability and its fuel-agnostic architecture could provide a cost and emissions advantage, but the technology must prove reliability and total cost of ownership at commercial scale to displace incumbent solutions in oil and gas and prime power markets.