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.
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