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Cummins working with Hyliion on certifying natural gas engine

Hyliion gains credibility in low-emissions long-haul transport with Cummins on its side
Jun 28, 2022
Cummins working with Hyliion on certifying natural gas engine
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BY ALAN ADLER

Cummins Inc., whose size and resources threatened the survival of hybrid powertrain maker Hyliion Holdings, will partner with the startup to certify its 12-liter natural gas engine for the Hypertruck ERX, the companies said Tuesday.

The collaboration is a big deal for Hyliion, which went public via SPAC in October 2020. Its stock price topped $55 a share before the business combination with sponsor Tortoise Acquisition Corp. Like most transportation SPACs, it’s share price is under pressure. But with $527 million on its balance sheet at the end of the first quarter, Hyliion (NYSE: HYLN)  is in better shape than many. 

Hyliion traded intraday Tuesday at $3.50, down 14 cents from Monday’s close.

“Cummins is a large, large player in this space and has a tremendous amount of credibility and confidence from fleets,” founder and CEO Thomas Healy told FreightWaves on Tuesday. “So, all across the board this helps Hyliion.”

Cummins (NYSE: CMI) is the main provider of natural gas-powered engines to truck manufacturers. It will begin selling a 15-liter natural gas engine for over-the-road Class 8 trucks in 2024. 

Hyliion is already using Cummins’ 12-liter natural gas engine in the ERX in fleet demonstrations. Hyliion has scores of orders for the hybrid powertrain secured by deposits. Production for the Hypertruck ERX with the ISX12N Cummins natural gas engine is expected to begin in late 2023.

Hyliion expects ‘far, far easier’ certification

Getting the engine certified in the ERX makes it eligible for three-quarters of a zero-emissions credit from the California Air Resources Board. That matches the 75 miles of pure electric range the ERX can travel before the natural gas generator — the Cummins’ 12-liter engine — kicks in. 

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