Hyliion’s KARNO™ Power Module Named 2026 Most Valuable Product by Consulting-Specifying Engineer

AUSTIN, Texas--(BUSINESS WIRE)--Jun 1, 2026--

Hyliion Holdings Corp. (NYSE American: HYLN) (“Hyliion”), a developer of modular power generation technology, today announced that its KARNO Power Module has been named the 2026 Most Valuable Product (MVP) in Consulting-Specifying Engineer’s annual Product of the Year program. The KARNO technology received the highest overall vote total across all six award categories, ahead of new offerings from some of the industry’s most established power generation, electrical, and building systems manufacturers.

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The award comes as electricity demand continues to rise across AI-driven data centers, defense applications, industrial expansion, and other critical power markets. Customers increasingly require onsite generation that can be rapidly deployed, operate reliably, offer compelling economics, and meet growing environmental performance expectations.

“Being chosen as the top new product of 2026 across every category, and against entries from some of the most established names in power generation, is an extraordinary validation of the KARNO Power Module,” said Thomas Healy, Founder and Chief Executive Officer of Hyliion. “The CSE community understands the real-world demands of power generation, from lifecycle economics and reliability to permitting and emissions. Their decision to rank our solution ahead of products from companies that have defined this industry for decades reinforces our belief that the market is ready for a new approach to onsite power generation.”

Hyliion is deploying early units in data center, defense, and prime power applications ahead of broader commercial availability in 2027. The Company has received confirmation from the Environmental Protection Agency (EPA) supporting KARNO deployment across all 50 states and successfully completed all non-recurring UL certification testing. In addition, the U.S. Navy’s Office of Naval Research (ONR), in partnership with the Defense Advanced Research Projects Agency (DARPA), has selected the USX-1 Defiant as a candidate test vessel for evaluating Hyliion’s KARNO technology in unmanned autonomous surface vessel applications.

The KARNO Power Module is a fuel-flexible linear generator designed to provide onsite prime power while reducing reliance on the electric grid. It is offered in both a 200kW configuration and a larger multi-megawatt system footprint, each of which is designed to be coupled together to support increasing power demands. Enabled by advanced additive manufacturing, the system is engineered to deliver efficient, low-emissions power generation with reduced maintenance complexity. The KARNO Power Module is designed to operate on more than 20 fuel sources, including natural gas, diesel, propane, hydrogen, and JP8. In addition, the KARNO Power Module’s native 800VDC output aligns with emerging architectures in next-generation AI data centers.

Consulting-Specifying Engineer’s Product of the Year program is one of the longest-running reader-choice awards in the professional engineering industry, recognizing products across six categories spanning mechanical, electrical, plumbing, fire/life safety, lighting, and non-residential building systems. Products are evaluated based on technological innovation, service to the industry, and market impact, criteria that align closely with the KARNO Power Module’s goal of rethinking distributed power generation.

About Hyliion

Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide modular power plant technology that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable KARNO Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine vessels. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please 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, our status as an early stage Company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business, and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026 for the year ended December 31, 2025 and subsequently filed Form 10-Qs. 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 differ 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.

The KARNO™ 200kW Power Module

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