Hyliion acquires KARNO generator technology from GE Additive

Energy · United States · ~$37M ($15M cash + ~$22M stock)

Hyliion acquired the KARNO fuel-agnostic, hydrogen-capable linear generator technology from GE Additive, a unit of GE, in an all-stock-and-cash transaction valued at approximately $37 million, with GE receiving $15 million in cash and approximately $22 million in Hyliion stock. The deal, announced in August 2022 and closed September 26, 2022, included the generator IP portfolio, metal additive manufacturing prototyping equipment, and the Cincinnati-based GE engineering team that developed KARNO. Originally intended to power Hyliion's Hypertruck ERX semi-truck platform, the acquired technology became the foundation of the company's full 2023 pivot into stationary and mobile power generation for data center, defense, and industrial customers.