NATIONAL CLEAN ENERGY WINNER
May, 2015 – Houston, Texas – Hyliion’s Smart Suspension system for trucks – that combines hybrid technology and aerodynamics to reduce fuel consumption by 31% was honored with $50,000 – awarded for winning the U.S. Department of Energy – Clean Energy Award – as part of the annual Rice Business Plan Competition. The competition is open to students around the globe and offers a total prize pool of over $2,500,000. The DOE Energy team (captained by Ms. Jennifer Garson) is focused on finding cleaner and more affordable energy to power our vehicles, homes and businesses. At the end of the day, Hyliion was awarded $50,000 startup funding, along with the potential to earn an additional $50,000 based on product milestones.
Hyliion won the DOE Clean Energy award for its innovative suspension system for freight trucks developed by Thomas Healy. The Hyliion Smart Suspension system is an ‘add-on’ hybrid system for tractor trailers that will reduce fuel consumption by over 30%. The Hyliion system uses electrical energy to capture power when the vehicle is slowing down and reuses it to accelerate – thereby reducing fuel consumption and our energy footprint. By equipping the trucking industry with the Hyliion system, it will be possible to achieve a 2% reduction in overall carbon emissions and in total energy usage within the U.S. Thomas said that they felt “incredibly fortunate” to have received the Shell Technology award and the “tremendous support” from Rice. “Participating in the Rice Competition has been a phenomenal experience. It’s been inspiring to see so many great ideas,” said Healy. “This award will play a pivotal role in helping us pursue our idea and create a transformative technology.”
The DOE recognizes that the challenge of meeting rising energy demands alongside growing environmental pressures demands groundbreaking innovation. Their initiatives aim to support fledgling companies with bright ideas by working closely with them. They act as partners in commercialization, because their technical and governmental know-how can benefit the companies they support. The Hyliion / DOE alliance is truly a win-win situation.