58.4 F
New York
Wednesday, October 5, 2022
spot_img

Latest Posts

Hyliion to Go Public; Sell Hypertruck

We have talked about the Tesla Semi and Nikola Corporation, but there are still many contenders in the green energy truck race. An interesting one is Hyliion, who announced it was performing a reverse merger with Tortoise Acquisition Corporation to get more cash. What makes the whole thing interesting is their planned truck will take a different approach to revolutionize trucking than electricity.

The Reverse Merger

A quick refresher: a reverse merger is like when a heterosexual couple marries and the man takes on the maiden name. Once the reverse merger is settled, the newly founded company will be known as Hyliion, and Tortoise Acquisition Corporation’s stock ticker will change from SHLL to HYLN. Reverse mergers are common where the purchased company’s brand name is one that commands respect in the market.

The Hyliion part of the merger will obtain an extra $560 million in funding, which it will use for boring general expenses, but also for development and production. They want to create the Hypertruck.

Hypertruck

While driving a truck that runs on electricity is better for the environment than diesel, the electricity can still come from burning fossil fuels that add greenhouse gases and toxins into the atmosphere. Even if the electricity comes from renewables like solar, it has at best a zero footprint.

Hyliion wants their truck to be even better than that: a force for environmental good.

Hyliion’s plans for the Hypertruck include having it run not just on compressed natural gas (CNG), but also renewable natural gas (RNG). RNG comes from rotting vegetation and other sources that produce methane, a greenhouse gas estimated to be 84 times better at capturing heat than carbon dioxide.

By using the RNG to move the vehicle and emit gases that are less contributing to the greenhouse effect, Hyliion hopes that their Hypertruck can be the first net-negative impact on global warming.

Conclusion

While TSLA and NKLA are trading on the stock market now, you will have to wait a few months before you could buy shares in HYLN. The closest thing you can do right now is to buy SHLL stock, which appreciated over 40% on Friday. The time to buy the stock may have already passed, or it may go higher. We cannot say for sure and we are not in the business of stock trading advice. It is up to you to make these decisions and to keep either the gains and the losses.

Latest Posts

spot_img

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.