Jared Watson's avatar
$20.3m follower assets
My Take: Hyliion $HYLN CEO Healy on WhatTheTruck
  • Winter testing for the ERX is in progress and on track.
  • DSV commitment to 10 ERX order with an option for 10 additional trucks. Will be deployed in Dallas which is where Hyliion will have their white-glove service center for initial implementations.
  • On the hydrogen partnership with Hyzon: way for Hyliion to signal that they are committed to an eventual hydrogen based future. Will deliver prototype with Hyzon fuel cells and Hyliion power train and see how the partnership expands from there.
  • On the Karno generator: the Karno is designed to be low maintenance and run 24/7 vs typical on-site facility generators (e.g. Cummins). The Karno is also as efficient as the newest power plants today. So Hyliion actually sees Karno generators being viable as on-site primary power sources with the grid as a backup. This solution would also eliminate line and transmission losses, further improving efficiency.
  • Hyliion will look to tackle semi-trucks first, as the most challenging, then plan to scale down their technology to smaller vehicles.
  • On the subject of military applications, there is a huge push to reduce emissions. Hyliion certainly sees an opportunity to collaborate on vehicles. But more importantly, Healy sees a massive opportunity to use the Karno for stationary applications, vehicles, and vessels in situations where the military would benefit from the generator’s ability to efficiently run on 20+ fuel types.
My Take:
I love this company. Hyliion continues to de-risk their product timeline and be one of the only de-spacs to not only meet and exceed their investor presentation goals, but also have enough cash on the balance sheet to not raise any capital.
There was some groundbreaking news in this interview that wasn’t mentioned in their last earnings call - specifically around the versatility and potential of the Karno generator.
For the uninformed, the Karno generator is a 3D printed generator out of GE’s aviation unit that is on the roadmap to power the second generation of the Hypertruck.
If what Healy says is true about there being a demand in the military and general commercial power supply markets in general, Hyliion just experienced a massive jump in TAM. And yet this company remains at a $400m market cap - right above their available cash balance.
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