Key Takeaways
- Hyliion signs a non-binding LOI with Al Khorayef Group to deploy up to twelve 200 kW KARNO™ generator units in Saudi Arabia.
- The generators will be used for agriculture and other power generation applications, supporting Saudi Arabia’s Vision 2030 sustainability goals.
- KARNO generators will initially run on LPG and natural gas, with future flexibility for other fuels.
- The technology offers high efficiency, low emissions, and minimal maintenance, making it suitable for remote agricultural operations.
- The LOI remains subject to a binding purchase agreement between the two companies.
Strategic Collaboration for Sustainable Power Generation
Hyliion Holdings Corp. (NYSE American: HYLN), a developer of sustainable electricity-producing technology, has signed a non-binding Letter of Intent (LOI) with Al Khorayef Group, a Saudi-based leader in power generation, industrial machinery, agriculture, and irrigation solutions.
Under the agreement, Hyliion will supply up to twelve 200 kW KARNO™ generators to Saudi Arabia for agricultural and other power generation applications. The collaboration aims to explore the broader deployment of KARNO generators in the region, supporting Saudi Arabia’s Vision 2030 initiatives for sustainability and energy efficiency.
Thomas Healy, Founder and CEO of Hyliion, stated: “Meeting the energy demands of agriculture in remote and challenging locations requires innovative and efficient solutions. We look forward to working with Al Khorayef to deliver sustainable, reliable power to support food security and economic growth with adaptable and efficient energy technologies.”
Hyliion KARNO™ Generator Technology Capabilities
The KARNO generators will initially operate on liquefied petroleum gas (LPG) and natural gas, with future flexibility to adapt to additional fuel sources. The system is designed for high efficiency, reduced emissions, minimal maintenance, and quiet operation, making it well-suited for:
- Remote agricultural operations
- Irrigation systems
- Off-grid farming and industrial applications
Al Khorayef Group, with over 50 years of expertise in power generation and sustainability, will leverage its Gulf Power brand to introduce the first KARNO generators to the Saudi market.
Mohamed bin Alkhorayef, CEO of Al Khorayef Group, commented: “The agricultural sector requires innovative energy solutions that not only meet its unique operational demands but also support sustainability and growth. Partnering with Hyliion to bring the first KARNO generators to Saudi Arabia exemplifies our mission to transform essential resources like energy into tools for progress and prosperity.”
Next Steps & Agreement Finalization
The LOI between Hyliion and Al Khorayef remains subject to a binding purchase agreement, which will outline the final terms for the deployment and integration of KARNO generators in Saudi Arabia. If finalized, this partnership could contribute to advancing sustainable power solutions in agriculture and other sectors across the region.
