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Libertine announce novation of Master Consultancy Services Agreement to Hyliion Holdings Corp
Libertine Holdings PLC (LSE AIM: LIB), a developer of clean, highly efficient, and fuel-flexible Linear Generator technology, announces that following the closing of the previously announced deal to acquire a new hydrogen and fuel agnostic capable generator technology, KARNOTM, by Hyliion Holdings Corp. (NYSE: HYLN, “Hyliion”) from the General Electric Company (NYSE: GE, “GE”), it has agreed to the novation of its Master Consultancy Services Agreement with GE to Hyliion.
HYLN has engaged Libertine to support the development of the electrical linear generator for the KARNO generator. The KARNO generator will be deployed in Hyliion’s Hypertruck powertrain platform to offer a next-generation, fuel-agnostic semi-truck solution. Further details on Hyliion are set out in the appendix of the announcement.
Sam Cockerill, Chief Executive Officer of Libertine, commented: “We are pleased to approve the novation of our Master Consulting Services Agreement to Hyliion and continue to support the development of the electric machine into Hyliion’s fuel agnostic technology for the Hypertruck KARNO. It has been a pleasure to work with GE on this project and we look forward to working closely with Hyliion in the future, to support their product development roadmap.”