Hyliion Holdings (HYLN) announced it has been awarded a $6M grant from the U.S. Department of Energy’s DOE Methane Emissions Reduction Program. For this project, representing a total of $8.4M in federal and non-federal funding, Hyliion will install up to 2 megawatts of KARNO generators in collaboration with oil and gas partners. The project will demonstrate the KARNO generator’s unique ability to operate on well-head gas to produce sustainable, near-zero emissions electricity. In 2023, Hyliion successfully tested gas from the Permian Basin, highlighting the generator’s fuel-agnostic design and its capability to utilize unprocessed gas. This distinctive capability positions the KARNO generator as a groundbreaking solution for reducing flaring and methane emissions while delivering efficient, scalable power….The funding is part of the U.S. DOE and U.S. Environmental Protection Agency’s $850M Methane Emissions Reduction Program to back projects targeting advancement in monitoring, measuring, and mitigation of methane emissions across the oil and gas industry. This grant empowers Hyliion to deploy KARNO generators in the oil and gas industry, advancing sustainable energy generation, as well as economic growth and job creation in local communities. The funding awarded to Hyliion is contingent upon the completion of final negotiations and the execution of a definitive agreement with the U.S. DOE.
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