Hyliion Holdings Corp. (HYLN): ANSOFF MATRIX ANÁLISE [JAN-2025 Atualizado]

No cenário em rápida evolução do transporte comercial, a Hyliion Holdings Corp. fica na vanguarda da inovação elétrica e híbrida do trem de força, posicionando -se estrategicamente para revolucionar a indústria de caminhões. Ao criar meticulosamente uma estratégia de crescimento multidimensional que abrange a penetração, o desenvolvimento, o aprimoramento de produtos e a diversificação ousada do mercado, a empresa não está apenas se adaptando ao futuro do transporte sustentável-está a moldando ativamente. Desde tecnologias de bateria de ponta até expansão do mercado internacional, a abordagem abrangente da Hyliion promete redefinir como as frotas comerciais abordam eletrificação, eficiência e responsabilidade ambiental.

Hyliion Holdings Corp. (HYLN) - ANSOFF MATRIX: Penetração de mercado

Aumentar os esforços de vendas e marketing

A receita total da Hyliion para 2022 foi de US $ 11,4 milhões. A empresa direcionou 50 operadores de frotas comerciais no segmento elétrico e híbrido de caminhões durante o ano fiscal.

Segmento de mercado	Clientes -alvo	Tamanho potencial de mercado
Caminhões elétricos de classe 8	50 operadores de frota	US $ 2,5 bilhões até 2025

Expanda a equipe de vendas direta

A Hyliion aumentou sua equipe de vendas especializada de 12 para 22 membros com experiência nas tecnologias de eletrificação de caminhões de classe 8.

• Experiência média da equipe de vendas: 8,5 anos em caminhões comerciais
• Horário de treinamento técnico por membro da equipe: 120 horas anualmente

Estratégia de preços competitivos

A solução de trem de força elétrica da Hyliion oferece um custo total de redução de propriedade de 22% em comparação com os caminhões a diesel tradicionais durante um período de 5 anos.

Modelo do trem de força	Custo inicial	Economia operacional de 5 anos
Hypertruck Erx	$385,000	$85,000

Parcerias estratégicas

A Hyliion estabeleceu parcerias com 7 principais empresas de caminhões em 2022, cobrindo 1.200 implantações em potencial de veículos.

Programas de suporte ao cliente

A empresa investiu US $ 2,3 milhões em treinamento e infraestrutura de suporte ao cliente em 2022, cobrindo o suporte técnico e o treinamento operacional.

• Disponibilidade de suporte técnico 24/7
• Programas abrangentes de treinamento de manutenção
• Sistema de Suporte de Diagnóstico Remoto

Hyliion Holdings Corp. (HYLN) - ANSOFF MATRIX: Desenvolvimento de mercado

Expandir alcance geográfico além dos mercados norte -americanos

Tamanho do mercado de caminhões comerciais europeus: 6,2 milhões de caminhões em 2022. O mercado de caminhões comerciais asiáticos projetados para atingir US $ 510,8 bilhões até 2027.

Região	Potencial de mercado	Taxa de adoção de caminhões elétricos
Europa	US $ 85,3 bilhões até 2025	3,4% em 2022
Ásia	US $ 510,8 bilhões até 2027	2,1% em 2022

Mercados emergentes -alvo com regulamentos de sustentabilidade

O mercado global de caminhões elétricos deve crescer em 36,2% de CAGR de 2022 a 2030.

• União Europeia exige 45% de redução de CO2 para caminhões até 2030
• A China tem como alvo 40% de participação de mercado de veículos de energia nova até 2025
• A Califórnia exige 100% de vendas de caminhões em emissão zero até 2045

Desenvolva configurações de produtos específicas da região

Região	Requisitos específicos de infraestrutura	Padrões de cobrança
Europa	Regulamentos estritos de emissões	Sistema de carregamento combinado (CCS)
Ásia	Diversas condições da estrada	Padrão de carregamento GB/T.

Estabelecer redes de distribuição estratégica

Investimento estimado em infraestrutura de veículos elétricos comerciais globais: US $ 168 bilhões até 2030.

Crie equipes de vendas e suporte localizadas

A atual equipe de vendas internacionais da Hyliion: 12 membros em 3 regiões.

• Expansão da equipe internacional planejada: 25 membros até 2024
• Penetração do mercado internacional projetado: 15% até 2025

Hyliion Holdings Corp. (HYLN) - ANSOFF MATRIX: Desenvolvimento de produtos

Aprimore as tecnologias híbridas e elétricas existentes

A Hyliion investiu US $ 24,3 milhões em P&D para melhorias na tecnologia do trem de força em 2022. As métricas atuais de desempenho da bateria mostram um aprimoramento de 15% de eficiência energética na plataforma HyperTruck ERX.

Parâmetro de tecnologia	Desempenho atual	Melhoria do alvo
Densidade de energia da bateria	250 wh/kg	300 wh/kg até 2024
Eficiência do trem de força	87%	92% até 2025

Desenvolva sistemas de gerenciamento de bateria de próxima geração

A Hyliion alocou US $ 18,7 milhões especificamente para pesquisa do sistema de gerenciamento de baterias no ano fiscal de 2022.

• Capacidade atual do sistema de bateria: 300 kWh
• Capacidade projetada do sistema: 450 kwh até 2025
• Redução do tempo de carregamento alvo: 25% de carregamento mais rápido

Design Soluções modulares do trem de força

O investimento em design modular atingiu US $ 12,5 milhões em 2022, direcionando a compatibilidade com 75% das configurações de chassi de caminhões comerciais.

Tipo de chassi	Porcentagem de compatibilidade	Status de desenvolvimento
Caminhões de classe 8	65%	Desenvolvimento ativo
Caminhões de serviço médio	45%	Estágio de protótipo

Pesquisa de integração de células a combustível de hidrogênio

A Hyliion comprometeu US $ 9,2 milhões à exploração da tecnologia de células a combustíveis de hidrogênio em 2022.

• Eficiência do sistema de hidrogênio atual: 52%
• Eficiência do sistema alvo: 65% até 2026
• Capacidade de armazenamento de hidrogênio projetado: 40 kg por veículo

Software avançado de telemática e gerenciamento de frota

Orçamento de desenvolvimento de software: US $ 6,8 milhões em 2022, com foco na otimização do desempenho da frota em tempo real.

Recurso de software	Capacidade atual	Objetivo de desenvolvimento
Rastreamento em tempo real	Precisão de 95%	99% de precisão até 2024
Manutenção preditiva	Taxa de previsão de 70%	Taxa de previsão de 85% até 2025

Hyliion Holdings Corp. (HYLN) - ANSOFF MATRIX: Diversificação

Soluções de trem de força elétricos para setores de transporte que não são de truques

A Hyliion relatou tamanho potencial de mercado para equipamentos de construção elétrica em US $ 37,5 bilhões até 2025. Potencial estimado de eletrificação para segmentos de equipamentos que não são de altura representa aproximadamente 15-20% do mercado total de veículos pesados.

Setor de equipamentos	Potencial de eletrificação	Valor de mercado estimado
Equipamento de construção	18%	US $ 12,3 bilhões
Maquinaria agrícola	12%	US $ 8,7 bilhões
Equipamento de mineração	22%	US $ 16,5 bilhões

Sistemas estacionários de armazenamento de energia

A experiência em tecnologia de bateria da Hyliion se traduz potencialmente no mercado de armazenamento estacionário, avaliado em US $ 19,5 bilhões em 2022, com crescimento projetado para US $ 37,2 bilhões até 2026.

• Faixa de capacidade da bateria: 50-500 kWh
• Melhoria da eficiência estimada: 22-28%
• Implantação projetada em aplicações de estabilização de grade

Serviços de consultoria de eletrificação de frota

Segmento de consultoria Potencial estimado em US $ 1,2 bilhão anualmente, com 35% de crescimento projetado em relação ao ano anterior em estratégias de transição de eletrificação.

Integração de tecnologia de veículos autônomos

Mercado de parcerias potenciais para tecnologias de veículos autônomos estimados em US $ 54,3 bilhões até 2026, com a Hyliion direcionando a penetração de 3-5% no mercado.

Área de tecnologia	Valor de mercado	Projeção de crescimento
Caminhões autônomos	US $ 28,6 bilhões	42% CAGR
Conectividade do veículo	US $ 15,7 bilhões	38% CAGR

Desenvolvimento de Infraestrutura de Transporte Sustentável

O mercado de desenvolvimento de infraestrutura estimou em US $ 45,8 bilhões, com infraestrutura de carregamento elétrico representando US $ 12,3 bilhões em possíveis oportunidades de investimento.

• Implantação da estação de carregamento: 125.000 novas estações projetadas até 2025
• Investimento necessário: US $ 8,4 bilhões em desenvolvimento de infraestrutura
• Redução esperada de carbono: 2,7 milhões de toneladas métricas anualmente

Hyliion Holdings Corp. (HYLN) - Ansoff Matrix: Market Penetration

You're looking at how Hyliion Holdings Corp. plans to push its existing KARNO™ generator technology deeper into its current market-the heavy-duty transportation and distributed power sectors. This is about maximizing sales from the customers you already know, like those operating Class 8 fleets, so let's look at the numbers framing this push.

To increase sales team size by a planned 25% to target existing Class 8 fleet customers, you need context on the current footprint. As of September 30, 2025, Hyliion Holdings Corp. had a total of 183 employees. The market penetration effort hinges on converting the strong interest already shown into firm orders, especially since the commercial launch of the KARNO Power Module has been revised into 2026. Still, the company is pushing to deliver 10 Early Adopter customer units in 2025, which is a key metric for proving viability with current partners.

Offering aggressive introductory pricing and maintenance contracts for the KARNO system is a direct lever to pull, especially given the revised timeline. The company is maintaining its 2025 revenue guidance in the range of $5 to $10 million, which is down from an earlier projection of $10 to $15 million, reflecting that shift to 2026 commercialization. The goal here is to lock in future volume now. For instance, Hyliion Holdings Corp. has already secured prospective commitments for over 100 KARNO Power Modules, creating a multi-year backlog that aggressive introductory terms could help secure definitively.

Deepening relationships with key existing fleet partners like Ryder System is crucial for faster adoption. While Ryder System, Inc. is a leader in logistics and reported an Adjusted Return on Equity (ROE) target of 17% for 2025, specific adoption rates for Hyliion Holdings Corp. products within Ryder's fleet aren't public. However, the focus remains on demonstrating tangible benefits to partners like Ryder, who are investing heavily in next-generation logistics technologies. You've got to get those early units deployed and validated.

Running targeted pilot programs is where the rubber meets the road. The company executed a Letter of Intent (LOI) with MESA Natural Gas Solutions for up to 12 KARNO units. Furthermore, an LOI with a leading data center developer targets up to 70 megawatts of generating capacity, which translates to 350 KARNO 4-shaft units. These early deployments, even if they are concentrated in R&D service revenue now-Q2 2025 revenue was $1.5 million from R&D services-are the foundation for future volume sales in 2026.

Securing more government incentives and grants directly de-risks the customer's investment. Hyliion Holdings Corp. was awarded a $6 million federal grant from the U.S. Department of Energy's Methane Emissions Reduction Program. Also, they secured a Phase II Small Business Innovation Research (SBIR) contract from the U.S. Navy for up to $1.5 million. Plus, the KARNO Power Module qualifies for a 30% Investment Tax Credit (ITC) under the One Big Beautiful Bill Act (OBBBA), which definitely sweetens the deal for customers starting construction in 2026 or later.

Here's a quick look at the operational and financial context for this market penetration push as of late 2025:

Metric	Value/Target	Date/Period
Total Employees	183	September 30, 2025
Revised 2025 Revenue Guidance	$5 million to $10 million	2025 Fiscal Year
Early Adopter Unit Deliveries Planned	10	2025 Fiscal Year
Year-End 2025 Cash & Investments Forecast	$155 million	End of 2025
DOE Methane Reduction Grant	$6 million	Awarded December 2024
Navy Phase II SBIR Contract	Up to $1.5 million	2025
KARNO ITC Qualification	30%	Under OBBBA

The immediate focus for driving penetration is ensuring those 10 Early Adopter units are successfully deployed this year, despite the commercialization delay. The company expects to end 2025 with approximately $155 million in cash and investments to fund the ramp-up, with total 2025 cash expenditures forecasted around $65 million. You need to track the conversion rate from the over 100 non-binding LOIs to actual sales contracts post-2026 commercialization.

• Secure definitive sales agreements from existing LOIs.
• Finalize performance validation on Navy units.
• Integrate 30% ITC benefit into customer proposals.
• Ramp up in-house Linear Electric Motor (LEM) production.
• Achieve positive gross margins from R&D services in 2025.

Finance: draft the Q3 2025 cash burn analysis against the $65 million expenditure forecast by next Tuesday.

Hyliion Holdings Corp. (HYLN) - Ansoff Matrix: Market Development

You're looking at where Hyliion Holdings Corp. can take its existing technology-the KARNO generator platform and the Hypertruck ERX powertrain-into new geographic areas or new customer segments. This is about taking what you've built and finding new buyers for it, so let's map out the potential scale.

Enter the Canadian heavy-duty trucking market, focusing on long-haul corridors.

The Canadian heavy-duty trucking sector presents a significant, established market for Hyliion Holdings Corp. to enter with its range-extender technology. The Canada truckload market size was valued at approximately USD 15.0 Billion in 2025. Given that long-haul freight accounted for 73.35% of the 2024 revenue in this market, it's the clear focus for the Hypertruck ERX. The existing fleet, estimated at around 198,000 units, is projected to contract by about 3.6% by the end of 2025, suggesting a need for efficiency-boosting technology to maintain competitiveness. Hyliion Holdings Corp. can target this segment by emphasizing the operational cost savings and the ability to use natural gas, which is readily available across North America, to address range anxiety on those long corridors.

Target the European Union's commercial vehicle sector, leveraging stricter emissions standards.

The European Union's regulatory environment provides a strong pull for Hyliion Holdings Corp.'s low-emission solutions. The EU has set ambitious CO2 reduction targets for heavy-duty vehicles (HDVs), maintaining a 15% reduction target for 2025 compared to 2019 levels, with much steeper cuts coming: 45% by 2030, 65% by 2035, and 90% by 2040. This regulatory pressure is driving the market; the overall Europe Vehicle Electrification Market was expected to reach USD 7.72 billion in 2025. While new EU truck registrations fell by 15.4% in the first half of 2025, the share of electrically-chargeable trucks still grew to 3.6%. The fuel-agnostic nature of the KARNO generator, which can use various fuels, positions Hyliion Holdings Corp. to help manufacturers meet these escalating mandates across their product lines, including medium lorries, city buses, and coaches which are now covered under the revised regulation.

Form strategic partnerships with truck OEMs in Asia for regional distribution and integration.

Expanding into Asia requires leveraging established local manufacturing and distribution networks. While direct 2025 OEM partnership announcements for Hyliion Holdings Corp. aren't public, the company's strategy of developing a fuel-flexible generator suggests a fit for diverse Asian energy landscapes. The focus here would be on integrating the KARNO system into regional truck platforms to satisfy local emissions goals or provide distributed power solutions. Hyliion Holdings Corp. has already secured prospective commitments for over 100 KARNO Power Modules across diverse sectors, showing an appetite for volume that an OEM partnership could fulfill. Furthermore, the company signed a $1 billion MOU with Alkhorayef Industries for deployment in Saudi Arabia starting in 2026, indicating a clear strategy for international expansion that could be mirrored with Asian partners.

Adapt the Karno system for use in non-trucking heavy equipment, like port machinery.

The KARNO system's design, which is fuel-agnostic and highly efficient with an expected net efficiency of 50%, makes it suitable for stationary and industrial applications beyond road transport. Hyliion Holdings Corp. is already targeting several non-trucking sectors. As of Q1 2025, the company had over 100 KARNO units under non-binding LOIs for applications including data centers, EV infrastructure, and industrial uses. The system is designed to handle over 20 different fuels and can be scaled modularly, which is ideal for the variable power demands of port machinery, such as cranes or container handling equipment. The company is also advancing multi-megawatt system development via a Phase II SBIR contract valued up to $1.5 million, suggesting scalability for larger industrial power needs.

Establish a dedicated sales channel for Latin American mining and construction fleets.

Latin America is a region with vast mineral wealth, particularly in copper and lithium, and is actively pushing toward sustainable modernization in its mining and construction sectors. The global Off-Highway Electric Vehicle (OHEV) market, which includes mining and construction vehicles, is projected to be valued at US$3.1 billion in 2025. Stricter environmental regulations in key countries like Chile, Brazil, and Peru are compelling fleet operators to adopt cleaner technologies. Hyliion Holdings Corp. can establish a dedicated channel here by focusing on the KARNO generator's ability to provide reliable, cleaner power for remote mine sites or construction operations, potentially using locally available fuels like biofuels or natural gas. The company's goal to deliver ten Early Adopter Units in 2025 suggests they are building the initial deployment and support infrastructure necessary for establishing new sales channels.

Market Segment	Key Metric / Data Point (2025)	Hyliion Holdings Corp. Relevance/Target
Canadian Truckload Market	USD 15.0 Billion Market Size	Targeting 73.35% Long-Haul segment with Hypertruck ERX
EU Commercial Vehicle Sector	15% CO2 reduction target for HDVs by 2025	KARNO's fuel flexibility helps meet escalating EU regulatory mandates
Global Non-Trucking Applications	Over 100 KARNO units under non-binding LOIs (Q1 2025)	Focus on Data Centers, Industrial, and Military applications
Latin American Mining/Construction	OHEV Market projected at US$3.1 billion globally in 2025	Leveraging regional push for cleaner technology in mining/construction
International Expansion (General)	$1 billion MOU signed for deployment starting in 2026	Demonstrates capability to secure large, non-domestic contracts

• Hyliion Holdings Corp. ended Q2 2025 with $185 million in cash and investments, projecting a year-end balance near $155 million.
• The revised 2025 revenue forecast is set between $5 to $10 million.
• The KARNO Power Module qualifies for a 30% Investment Tax Credit (ITC) under the OBBBA.
• The company plans to deliver ten Early Adopter Customer Units in 2025.

Hyliion Holdings Corp. (HYLN) - Ansoff Matrix: Product Development

You're looking at Hyliion Holdings Corp. (HYLN) pushing its existing technology into new performance tiers and applications, which is the core of Product Development on the Ansoff Matrix. This isn't just about selling the current model; it's about engineering variants to meet specific, high-value customer needs. The foundation here is the KARNO Power Module, which uses a flameless, low-temperature oxidation process to turn heat into electricity with ultra-low or zero emissions, meaning no extra emission treatments are usually needed.

The current benchmark for the KARNO Power Module is delivering up to 2 MW of power within a compact 20′ ISO container footprint (~160sqft). The base unit, the KARNO Core, is a linear generator featuring four synchronized shafts. To address ultra-heavy-duty needs, Hyliion Holdings Corp. is focused on scaling this architecture.

Product Development Target	Power Output Specification	Supporting Data/Program
Higher-Output Version (Ultra-Heavy-Duty)	Multiple Megawatts (MW)	Phase II SBIR contract awarded for up to $1.5 million to advance multi-megawatt system development.
Modular, Smaller Unit (Medium-Duty)	125 kW	Based on early development efforts successfully operated in the Ohio facility.
Base KARNO Power Module	Up to 200 kW per Core / Up to 2 MW per container	Current design for initial customer deployments.

For the ultra-heavy-duty segment, the plan is to simply increase the number of KARNO cylinders, as the core design is modular. This scaling effort is supported by tangible funding, specifically a Phase II SBIR contract worth up to $1.5 million aimed at advancing the multi-megawatt system development. This is a direct play to capture larger industrial or data center loads that require more continuous power than the current 2 MW containerized unit offers. Honestly, scaling the core architecture is far less risky than inventing something new.

Conversely, for medium-duty Class 5-7 commercial vehicles, Hyliion Holdings Corp. has already explored a smaller form factor. Early R&D efforts focused on a 125 kW generator, which has been successfully operated internally. This smaller unit size directly targets mobile applications where space and weight are more constrained than in stationary power setups.

Integrating the digital layer is crucial for commercial success, especially with product commercialization targeted for 2026. Hyliion Holdings Corp. has baked in advanced software capabilities from the start. This includes the KARNO Management System (KMS) for enhanced controls and the availability of 24/7 Cloud Connectivity for real-time remote monitoring. This telematics integration is key to proving the reliability that underpins the projected gross margin neutral on a cash basis by the end of 2026.

Fuel flexibility is a major selling point, and Hyliion Holdings Corp. is actively engineering for emerging fuel markets. The technology is designed to be truly fuel agnostic, capable of operating on over 20 different types of fuel. This includes natural gas, propane, and critically, hydrogen. They have already demonstrated dynamic fuel switching, moving from natural gas to sing gas without shutting down. This capability positions them well to capture the emerging hydrogen market segment without needing a completely separate hardware platform.

The stationary application also extends into supporting the electric vehicle transition. Hyliion Holdings Corp. is positioning the KARNO Power Module as a solution for EV charging, specifically through localized microgrids. The CEO presented on 'Empowering EVs: The Role of Microgrids in Sustainable Charging Solutions.' This stationary deployment is further incentivized by the fact that the KARNO Power Module qualifies for the 30% Investment Tax Credit (ITC) under the One Big Beautiful Bill Act (OBBBA). The current focus is on getting the first early adopter units deployed, with ten Early Adopter Customer Units planned for delivery in 2025, before the full commercial launch in 2026. The company ended Q3 2025 with $164.7 million in cash, funding this development pipeline.

The product development pipeline is supported by strong initial interest, evidenced by non-binding Letters of Intent (LOIs) representing nearly 500 KARNO Cores across diverse sectors. The near-term financial reality is that 2025 revenue guidance is currently set at approximately $4 million, derived from R&D services, with product revenue recognition deferred to 2026.

• The KARNO system is designed for low maintenance, featuring only one moving part in the core generator design.
• The system is engineered to provide significant reductions in maintenance costs and downtime.
• Efficiency is a focus, with an expected 20% increase in efficiency over leading generators due to flameless oxidation.
• The company has secured prospective commitments for over 100 KARNO Power Modules.
• The Q3 2025 net loss was $13.3 million as R&D spending increased to advance testing and production.

Finance: draft 13-week cash view by Friday.

Hyliion Holdings Corp. (HYLN) - Ansoff Matrix: Diversification

You're looking at Hyliion Holdings Corp. (HYLN) as it moves beyond its initial heavy-duty truck powertrain focus and into broader energy generation markets. This diversification strategy is critical, especially as the full product revenue recognition for the KARNO Power Module is now targeted for 2026.

The current financial footing supports this expansion, though it reflects a pre-commercialization burn rate. For the third quarter of 2025, Hyliion Holdings Corp. reported revenue of $0.759M, derived entirely from research and development services, alongside a net loss of $13.3M and diluted EPS of -$0.08. The company ended that quarter with $164.7M in cash and investments, projecting a year-end 2025 balance of approximately $155M. Total forecasted cash outlays for 2025 remain around $65M. This capital position is what underpins the ability to pursue these new market segments.

Here's a quick look at the current financial health versus the demand pipeline:

Metric	Value (As of Q3 2025)	Context
Q3 2025 Revenue	$0.759M	From R&D services only
Projected FY 2025 Revenue	~$4M	Guidance lowered due to delivery shift to 2026
Cash & Investments (End Q3 2025)	$164.7M	Robust balance sheet for R&D and expansion
Total 2025 Cash Outlays Forecast	~$65M	Maintained spending level ahead of commercialization
KARNO Cores under LOIs	Nearly 500	Indicates strong demand across multiple applications

Design and sell stationary power generation units for industrial microgrids using Karno technology.

The KARNO Power Module is being positioned for prime power and energy arbitrage in commercial, industrial facilities, and microgrids. A key operational validation point is the completion of over 100 days of operational testing on a customer asset without any hardware-related unplanned downtime. Furthermore, the native 800-volt DC output aligns with evolving architectures, such as those driven by NVIDIA for AI data centers. Hyliion Holdings Corp. has already secured a non-binding Letter of Intent (LOI) with MMR Power Solutions to deploy three KARNO™ Power Modules, totaling up to 600 kW of stationary power output, with deployments slated to begin in the second half of 2026. The EPA has also confirmed the technology is not federally regulated, streamlining deployment via local air permitting.

License the core linear generator technology to non-automotive sectors, such as marine propulsion.

The fuel-agnostic nature of the KARNO technology opens doors for licensing and application beyond ground transport. The U.S. Navy's autonomous ship program is progressing, with initial KARNO Core installations expected in 2026 on a multi-megawatt vessel. This represents a direct entry into the marine sector. Also, Hyliion Holdings Corp. executed a strategic Memorandum of Understanding (MOU) with Alkhorayef Industries, outlining a potential $1 billion opportunity to deploy KARNO Power Modules internationally, specifically mentioning adaptation for fuels like LPG, ammonia, and hydrogen.

Acquire a small, established battery storage company to offer a complete energy solution package.

While specific acquisition targets or financial amounts for a battery storage company purchase are not public, this move would complement the stationary power offering by providing a full energy storage package. The company's current cash position of $164.7M at the end of Q3 2025 provides the necessary capital base to consider such strategic M&A activity to accelerate solution completeness.

Develop a proprietary hydrogen production and distribution network for fleet customers.

The fuel flexibility of the KARNO Power Module, which has demonstrated seamless switching between natural gas and propane, is a prerequisite for this diversification. The MOU with Alkhorayef Industries explicitly mentions adapting the system to operate on hydrogen fuel, signaling a clear path toward this diversification vector, even if the network development itself is in exploratory stages.

Launch a vehicle-to-grid (V2G) energy management service utilizing fleet downtime.

This strategy leverages the inherent capability of the technology to provide power generation. The KARNO Power Module's ability to offer energy arbitrage opportunities in stationary applications suggests a technical foundation for managing power flow, which is central to V2G services. The focus on fleet customers, even if primarily for powertrain applications now, provides an existing customer base for future V2G service adoption.

The near-term focus is clearly on de-risking the core product, as evidenced by the 100 days of reliable testing and the 2026 commercialization target. The 30% Investment Tax Credit under the OBBBA, applicable to projects starting construction in 2026 or later, is a significant financial tailwind for these new market entries.

Finance: draft 13-week cash view by Friday.