Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that GreenPath Logistics has ordered 50 units backed by deposits to secure Hypertruck ERX™ production slots. After their Ride and Drive experience at Hyliion’s headquarters, the Dallas-based, full-service private fleet—which uses only vehicles powered by alternative fuels—is the first member of the Hypertruck Innovation Council to place an order of Hypertruck ERX™ units.

An early adopter of Hyliion technology, GreenPath Logistics placed an initial order of 20 Hybrid eX units in December 2021 and will collaborate with Hyliion to begin the initial controlled fleet trials for the Hypertruck ERX™ in their operations later this year, where they move freight for notable customers such as Amazon, UPS and the United States Postal Service. With the addition of the GreenPath Logistics order, Hyliion now has 150 Hypertruck ERX™ production slots confirmed, with reservations for nearly 2,000 additional units.

“GreenPath Logistics’ resolute commitment to sustainability and alternative fuels make them an incredibly valuable Hypertruck Innovation Council member, and I’m thrilled that their experience with our powertrain solutions has led to further collaboration and the integration of Hypertruck ERX™ units in their fleet,” said Thomas Healy, Founder and CEO of Hyliion.

“We’re pleased to see corresponding demand for the Hypertruck ERX™ as a result of the Ride and Drive events we’ve hosted. The feedback we’ve received has been overwhelmingly positive, and I look forward to more fleets experiencing the Hypertruck ERX™ and its benefits firsthand,” Healy added.

“Our commitment to sustainability in the transportation industry is built into the very fabric of our business, and we are excited to be able to offer our customers innovative solutions that can make a significant impact in reducing carbon emissions. The deployment of Hypertruck ERX™ units in our operations is a momentous next step in our electrification journey that will benefit the environment, our company and our drivers,” said James Purvis, President, GreenPath Logistics.

About the Hypertruck ERX™

The Hypertruck ERX™ is an electric powertrain that is recharged by an onboard natural gas generator for Class 8 commercial trucks that aims to provide lower operating costs, emissions reductions, and superior performance. Utilizing the 700+ commercial natural gas vehicle filling stations across North America, it enables long range and quick refueling, and when fueled with renewable natural gas, can provide net-negative carbon emissions to commercial fleets.

About Hyliion

Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.