Hyliion Holdings Corp. (NYSE American: HYLN), a developer of modular power plant technology, today announced that its KARNO™ Power Module has been named to TIME’s Best Inventions of 2026, an annual list recognizing groundbreaking innovations shaping the future.

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KARNO™ Power Module, a 200 kW linear generator

KARNO™ Power Module, a 200 kW linear generator

As global electricity demand accelerates, driven in large part by the rapid growth of AI, Hyliion is reimagining how power is generated. The KARNO Power Module is designed to deliver highly efficient, cost-effective electricity generation in a compact, scalable modular system that produces power directly where it is needed. The technology is designed for critical applications, including data centers and military operations. Hyliion’s defense programs include a contract to power the U.S. Navy’s USX-1 Defiant autonomous vessel, alongside nearly $50 million in new U.S. military programs expected to be awarded in 2026.

Unlike conventional generators that rely on internal combustion engines or rotating turbines, the KARNO technology utilizes a proprietary linear heat generator architecture enabled by advanced additive manufacturing. The technology is designed to deliver efficient, fuel-flexible, low-emission power generation, scalable from hundreds of kilowatts to multi-megawatt installations.

“Being recognized by TIME as one of the Best Inventions of 2026 is an incredible honor and a testament to our team,” said Thomas Healy, Founder and CEO of Hyliion. “We set out to fundamentally rethink how electricity is generated, aiming to bring power plant-level performance directly to where it’s needed. After years of engineering and development, seeing our KARNO Power Module recognized among the world’s most innovative technologies is a tremendous milestone, and we believe this is just the beginning.”

To compile this year’s list, TIME solicited nominations from TIME editors and correspondents around the world, as well as through an online application process, paying special attention to growing fields such as health care and AI. TIME then evaluated each contender on key factors, including originality, efficacy, ambition, and impact.

See the full list here: ti.me/best-inventions

About Hyliion

Hyliion is creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide modular power plant technology that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting data center, military, and commercial and industrial applications with a locally deployable KARNO Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine vessels. The Company aims to offer innovative yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.

Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early-stage company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business, and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026 for the year ended December 31, 2025 and our subsequently filed Form 10-Qs. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

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