Hyliion (HYLN) said Tuesday that it signed a non-binding letter of intent with Al Khorayef Group to deliver up to 12 200-kilowatt KARNO generator units to Saudi Arabia for use in agricultural and other power generation applications.
The generators are expected to initially run on liquefied petroleum gas and natural gas, with the possibility to use other fuels in the future.
Through this partnership, both companies aim to explore the broader potential of KARNO generators in the regional power generation market, aligning with Saudi Arabia's Vision 2030 sustainability goals, the company said.
The letter of intent between Hyliion and Al Khorayef is contingent on the execution of a binding purchase agreement, the company added.
Shares of Hyliion were up 1% in recent trading.
Price: 2.08, Change: +0.02, Percent Change: +0.97
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。