share_log

Hyliion Awarded $6M Federal Grant To Advance Methane Emission Reductions In The Oil And Gas Industry

Benzinga ·  Dec 23 21:32

Hyliion Holdings Corp. (NYSE:HYLN), a developer of sustainable electricity-producing technology, today announced it has been awarded a $6 million grant from the U.S. Department of Energy's (DOE) Methane Emissions Reduction Program. For this project, representing a total of $8.4 million 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 above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment