Home breadcru News breadcru Sustainability breadcru Hyliion secures $6 mn funding from US DOE for methane reduction tech

Hyliion secures $6 mn funding from US DOE for methane reduction tech

30 Dec '24
2 min read
Hyliion secures $6 mn funding from US DOE for methane reduction tech
KARNO in lab. Pic: Hyliion

Insights

  • Hyliion Holdings has received a $6 million grant from the US Department of Energy's Methane Emissions Reduction Program for a project totalling $8.4 million in funding.
  • The company will deploy KARNO generators to reduce methane emissions in oil and gas, using raw well-head gas to produce sustainable, near-zero emissions electricity.
Hyliion Holdings Corp. (NYSE American: HYLN), a developer of sustainable electricity-producing technology, today announced it has been awarded a $6 million grant from the U.S. Department of Energy’s (DOE) Methane Emissions Reduction Program. For this project, representing a total of $8.4 million in federal and non-federal funding, Hyliion will install up to 2 megawatts of KARNO generators in collaboration with oil and gas partners.

“This funding opportunity allows us to demonstrate the potential of our innovative technology in providing meaningful solutions to combat methane emissions in the oil and gas industry.”

The project will demonstrate the KARNO generator’s unique ability to operate on well-head gas to produce sustainable, near-zero emissions electricity. In 2023, Hyliion successfully tested gas from the Permian Basin, highlighting the generator’s fuel-agnostic design and its capability to utilize unprocessed gas. This distinctive capability positions the KARNO generator as a groundbreaking solution for reducing flaring and methane emissions while delivering efficient, scalable power.

“The KARNO generator is redefining what’s possible in sustainable energy production by turning waste gas that would normally be flared into valuable power,” said Thomas Healy, founder and CEO of Hyliion. “This funding opportunity allows us to demonstrate the potential of our innovative technology in providing meaningful solutions to combat methane emissions in the oil and gas industry.”

The KARNO generator is an innovative linear generation system powered by heat and enabled by 3D metal printing. Its hermetically sealed design, with only one moving part per shaft, allows for long maintenance-free operation, making it ideal for remote and demanding environments like oil fields. Additionally, its flexibility to operate on more than 20 fuel types, including raw field gas, ensures it can adapt to diverse energy needs while reducing environmental impact.

The funding is part of the U.S. DOE and U.S. Environmental Protection Agency’s $850 million Methane Emissions Reduction Program to back projects targeting advancement in monitoring, measuring, and mitigation of methane emissions across the oil and gas industry. This grant empowers Hyliion to deploy KARNO generators in the oil and gas industry, advancing sustainable energy generation, as well as economic growth and job creation in local communities.

The funding awarded to Hyliion is contingent upon the completion of final negotiations and the execution of a definitive agreement with the U.S. DOE.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

ALCHEMPro News Desk (HU)

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