Hyliion Holdings Corp. (NYSE:HYLN) entered into a definitive agreement to acquire A New Hydrogen and Fuel Agnostic Capable Generator from GE Additive for $37 million on August 24, 2022. GE will receive $15 million in cash and approximately $22 million in Hyliion stock. Hyliion will acquire the generator technology and integrate the Cincinnati-based engineering team that created the KARNO system into Hyliion. The transaction is subject to customary closing conditions and is expected to close by the end of Q3 2022. Darcy R. White of Jones Day acted as legal advisor to General Electric Company.

Hyliion Holdings Corp. (NYSE:HYLN) acquired A New Hydrogen and Fuel Agnostic Capable Generator from GE Additive on September 26, 2022.