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Https://www.youtube.com/watch?v=XsVn2PAupZg

This is a must-listen for anyone captivated by the intersection of energy innovation and entrepreneurial grit. As Thomas puts it, the key advice is: just get started and don’t fear pivots—today’s setback may be tomorrow’s breakthrough.

Correction2: The KARNO generator works at 50% efficiency, produces little or no pollution and claims it can produce electricity cheaper than the US grid!

Https://www.youtube.com/watch?v=7a18ezDQ4yQ

Correction: The KARNO generator works at 50% efficiency, produces little or no pollution and claims it can produce electricity at half the cost of the US grid!

Https://www.youtube.com/watch?v=Eiyf-PXbfIY

The KARNO generator works at 90% efficiency, produces little or no pollution and claims it can produce electricity at half the cost of the US grid!

The news shows the ability to deliver on a promising strategy, including:

DARPA selects USX-1 Defiant for Hyliion’s KARNO Core sea trials. The program is part of a broader effort to modernize the U.S. Navy and optimize surface platforms for autonomous operation, enabling simpler hull designs, improved reliability and survivability. The vessel is a full-scale technology demonstrator and is currently undergoing sea trials.

Asset-Light Manufacturing: Hyliion leverages external manufacturing partners, such as Flex, to shorten the path to production and minimize capital burn.

Hyliion projects approximately 10 million in revenue for the full year 2026, targeting full KARNO commercialization by year-end. Total cash expenditures were $13.0 million during the quarter, including capital spending of $1.9 million for additive printing machines and facility investments.

The company expects total cash use during the year to be approximately $50 million, resulting in a year-end 2026 cash and investments balance of approximately $100 million.

HYLN share price has much further to go, IMO, DYOR

Not really competition, but interesting, Shell’s EV-Plus Thermal Fluid features proprietary Shell PurePlus Technology which uses a crystal-clear 99.5% pure base oil1 made from natural gas with stronger molecular bonds, to improve BEV battery cooling.

Used to effectively cool all electric components within an EV, therefore managing heat from the battery pack, motors and other electronics. Shell says that the fluid’s performance means that it could provide an ‘all-in-one thermal management solution’ for the entirety of a battery-electric vehicle, helping to reduce weight and improve efficiency in the process.

From

Looks like we might have a little competition, not always a bad thing, considering the sizable TAM!

Scenario 1: Conservative Burn

Assumptions:

Operating expenses remain flat at $15.8M/quarter

Revenue stays modest at ~$1.5M/quarter

No major capex or hiring surge

Runway: $$ \frac{155M}{15.8M - 1.5M} \approx 11.8 \text{ quarters} \Rightarrow \text{~3 years} $$ → Hyliion can sustain operations through early 2028 without raising capital.

🔴 Scenario 2: Aggressive Ramp-Up

Assumptions:

Expenses rise to $20M/quarter due to scaling KARNO production

Revenue grows slowly to $3M/quarter by mid-2026

Runway: $$ \frac{155M}{20M - 3M} \approx 9.1 \text{ quarters} \{~2.25 years} $$ → Funding may be needed by late 2027 if commercialization lags.

Scenario 3: Grant-Driven Cushion

Assumptions:

Additional $8.4M in federal/non-federal grants deployed over 2025–2026

Expenses held at $16M/quarter

The OBBBA 30% investment tax credit for KARNO systems starting in 2026 could catalyze adoption. Revenue boosted to $5M/quarter by late 2026

Runway: $$ \frac{155M + 8.4M}{16M - 5M} \approx 14.8 \text{ quarters} \{~3.7 years} $$ → Grants extend runway into 2029, assuming no major cost overruns.

Hyliion is still in early-stage commercialization, focused on modular power for defence and niche industrial applications. The KARNO™ tech is promising and should manufacturing scale-up, customer validation and regulatory hurdles align, Hyliion should find strong institutional interest. Its TAM is expanding as data centers and industrial users seek 24/7 clean power, IMHO. DYOR

...with more good news: The EPA’s determination acknowledges the fundamentally different and innovative design of the KARNO Power Module and provides a clear pathway for its deployment across both stationary and mobile power generation markets. This determination along with low emission performance of KARNO technology ensures effective regulatory compliance and a more efficient permitting process for customers adopting the technology.

"Hyliion is appreciative of the EPA's determination as it marks an important step in the commercialization journey of the KARNO Power Module," said Thomas Healy, Founder and CEO of Hyliion. "This clarity allows us to accelerate deployment of a solution that is versatile, reliable, and fuel-flexible, helping power the industries of tomorrow, from data centers to defense, while creating jobs here in America."

United States Environmental Protection Agency (EPA) has issued a determination confirming that Hyliion’s KARNO™ Power Module is not regulated as an internal combustion engine under existing federal law and regulations. Instead, the KARNO Power Module will primarily be subject to local air permitting requirements applicable to power generation installations.

Hyliion Holdings recently announced that Darrell Preble has joined Hyliion as the vice president of operations. He will be responsible for scaling Hyliion’s manufacturing infrastructure to bring the KARNO Power Modules to market efficiently and cost-effectively.

Preble brings experience from the energy industry, with a track record of building scalable operations and driving operational excellence. Prior to joining Hyliion, he held senior leadership positions at Cummins and Husky Technologies, where he oversaw large-scale production initiatives and implemented supply chains that supported commercialization.

“As we prepare to go to market, strengthening our operational capabilities is critical,” Thomas Healy, founder and CEO of Hyliion, said. “Adding Darrell to our leadership team reinforces our ability to scale efficiently, optimize costs, and ensure that the KARNO technology can be deployed across industries at a manageable pace.”

And still falling! It was a shock to me just how big the dilution and the discount was and wanted to let folks know, in MHO, this will go lower when 900m shares offered at 776p hit the market for a quick profit.

Ørsted to raise DKK 60 billion (€8bn), issuing an additional 900.8 million new shares for DKK 66.60 (€8.92). The rights issue offers a 67% discount compared to Friday's closing price of around DKK 200.

This falling knife has further to fall, IMO!

KARNO™ Power Module qualifies for a 30% Investment Tax Credit (ITC) under the newly enacted One Big Beautiful Bill Act (OBBBA).

Under the OBBBA, energy projects beginning in 2026 or later that use Hyliion’s KARNO technology will qualify for a 30% tax credit covering both the generator system and associated supporting infrastructure. This incentive is expected to help accelerate deployment of qualifying technologies across U.S. markets and supports infrastructure growth aligned with national energy security goals.

“This legislation represents a meaningful step toward the resilient, fuel-flexible energy infrastructure our nation needs,” said Thomas Healy, Founder and CEO of Hyliion. The ITC significantly enhances our ability to accelerate deployment of the KARNO Power Module"

https://www.hyliion.com

Www.offshore-technology.com/news/hyliion-methane-emissions-reduction-grant

Hyliion awarded a $6m grant from a US Department of Energy (DOE) programme to support a project aimed at reducing methane emissions in the oil and gas sector.

The grant will facilitate the installation of up to 2MW of Karno generators, which have the capability to produce sustainable, near-zero emissions electricity from well-head gas.

The total project funding amounts to $8.4m, combining federal and non-federal investments. The funding is part of the $850m methane emissions reduction programme led by the US DOE and Environmental Protection Agency, so may be a risk from TRUMP?

The Hyliion KARNO Power Module stands out from traditional power generation due to its fuel flexibility, efficiency, and modular design. Here’s how it compares:

Advantages Over Conventional Generators

✅ Fuel Agnostic – Unlike diesel or gas turbines that rely on specific fuels, the KARNO module can operate on over 20 different fuels, including hydrogen, natural gas, and ammonia. ✅ Higher Efficiency – It uses flameless oxidation, which improves thermal efficiency by up to 20% compared to leading generators. ✅ Resilience & Lower Maintenance, With only four moving parts, The U.S. Air Force selected it for critical operations, highlighting its ability to function during fuel supply disruptions.

Fuel Cells – Hydrogen fuel cells provide zero-emission power, but they are costly and require pure hydrogen, whereas KARNO can run on multiple fuels.

Battery Storage – Batteries are great for short-term energy storage, but KARNO provides continuous power generation, making it more suitable for off-grid and industrial applications.

Data Centers & AI Infrastructure – With growing energy demands from AI-driven data centers, the KARNO module could provide a cost-effective, low-emission, fuel-flexible distributed power system.

While it’s not zero-emission like pure hydrogen fuel cells, its versatility and efficiency make it a greener alternative to traditional diesel and gas turbines.

Hyliion has secured a $6 million grant to deploy KARNO generators in the oil and gas sector, helping to convert waste methane into usable electricity instead of flaring it.

Https://www.theguardian.com/society/2025/may/29/revolutionary-dna-blood-test-to-offer-thousands-in-england-tailored-cancer-care#:~:text=Prof%20Dame%20Sue%20Hill%2C%20the,these%20patients%20to%20be%20detected. In a world-first, the NHS will offer patients with lung and breast cancer – two of the most common forms of the disease – a liquid biopsy that detects tiny fragments of tumour DNA. The NHS is also aiming to bring in the liquid biopsy for other forms of the disease, including pancreatic and gallbladder cancer.

Rapid results from the groundbreaking test mean patients can immediately be offered drugs and treatments specifically tailored to the genetic profile of their disease, at least 15,000 patients with suspected lung cancer are expected to benefit from the test every year. The NHS is also bringing in the testing for advanced breast cancer patients, with four genetic variations now being screened for, and 5,000 women expected to benefit each year.

Liquid biopsy technique will become a standard test as they can rapidly match treatment to a specific tumour. “As research progresses, it’s exciting that this approach has the potential to help us scan the body in a single blood test to see where and how cancer may be developing and target it with speed and precision to help save more lives.” Sounds like good news for everyone?

Great news today, this sp still has a long way to go, but watch and wait to see what happens once all the excitement dies down.

The company aims for a commercial launch of its Karno Power Module by year-end and anticipates reaching breakeven gross margin by the end of 2026. This is full of risk, launching a new product with new technology, but if they can deliver on the promise this should 10 bag from here, IMHO. Not for the faint hearted, DYOR

Good point, with revenue of only £2m last year and only £ 17.8m cash they will need to raise more money in 18 m0nths.

Amazing how Tesla or Amazon ever survived decades of very heavy loss making and regularly raised many millions on the stock market before making a penny! That's the main purpose of a stock market!

However, anyone can make cars or sell books, but no one else has an FDA approved Parsortix system validated by illumina and AZ. Let the market, or AZ, decide on the true value here.

GSF is eligible for LDES support, they just need more batteries! Arizona has launched an incentive program structured to encourage longer durations by offering incentives for storage technologies with more than five hours of discharge.

LDES applications can achieve internal rates of return (IRRs) well above investor hurdle rates by 2025—comparable with benchmarked IRRs of current mature energy projects. “Net-zero power: Long duration energy storage for a renewable grid.”

Furthermore, all the evidence suggests that this could be a highly attractive market for investors: a sizeable new industry providing 1.5 to 2.5 TW of storage capacity, requiring an investment that could reach $1 trillion to $3 trillion by 2040 with potential competitive returns. The prize is within reach, and the time to seize it is now.

Download the full report, “Net-zero power: Long duration energy storage for a renewable grid.”

Looks promising: Providing a cost effective means of energy storage at scale, MGA has the potential to revolutionise the way we think about electricity generation and energy-intensive industry.

Miscibility Gap Alloys are made up of two components aluminium and graphite. One of these will melt, while the other stays solid. The melting phase is dispersed as fine grains, and the non-melting phase forms a continuous matrix. When heat is applied, the fine grains melt, storing energy, while the matrix phase holds everything together and rapidly distributes heat.

The resulting structure exhibits the high energy storage capacity and constant temperature storage of a phase change system while macroscopically behaving as a continuously solid, modular block. This means that there are no expensive containment issues normally seen when trying to store high-temperature phase change materials. We only use abundant and safe starting materials that exhibit a miscibility gap, so our materials can be cycled a huge number of times while losing little or no storage capacity. All of this combines to make our technology safe, cheap and easy to use. https://www.mgathermalstorage.com/about

Polish authorities and unions reacted with anger after the European Union’s top court ordered an immediate halt of a coal mine near the Czech border, endangering 7% of the country’s electricity production.
https://www.mining.com/web/poland-furious-after-eu-court-orders-halt-of-major-coal-mine/
The world is ready for AEG to build a global franchise of Coalswich producers.
Anyone know of a good accountant to take charge of all the profits rolling in? :)