Hyliion Holdings and Alkhorayef Industries Forge $1 Billion Partnership for Energy Solutions in Saudi Arabia

Reuters

05-21

Hyliion Holdings and Alkhorayef Industries Forge $1 Billion Partnership for Energy Solutions in Saudi Arabia

Hyliion Holdings Corporation has entered a strategic partnership with Alkhorayef Industries Company, a prominent Saudi Arabian industrial conglomerate. This collaboration was formalized through a memorandum of understanding (MOU) signed during the Saudi-U.S. Investment Forum 2025 in Riyadh. The partnership aims to validate, adapt, scale, and assemble Hyliion's innovative KARNO Power Modules for the Saudi Arabian market, presenting a potential $1 billion business opportunity. Aligned with Saudi Arabia's Vision 2030 agenda, this initiative supports the Kingdom's growing demand for reliable, decentralized, and sustainable energy solutions. The non-binding MOU, which builds on a prior Letter of Intent, sets the stage for deploying KARNO power solutions in Saudi Arabia starting in 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hyliion Holdings Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250521220159) on May 21, 2025, and is solely responsible for the information contained therein.

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