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ⒸHYLIION ● ● Exhibit 99.1 HYLIION REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS AUSTIN , Texas ( Aug. 10 , 2021 ) -Hyliion Holdings Corp. ( NYSE : HYLN ) ( " Hyliion " ) , a leader in electrified powertrain solutions for Class 8 semi - trucks , today reported its second quarter 2021 financial results . Key Business Highlights Hyliion Holdings Corp. Investor Contact Louis Baltimore ir@hyliion.com Press Contact Ryann Malone press@hyliion.com ( 833 ) 495-4466 Hired Dennis M. Gallagher as Chief Operating Officer , an experienced industry executive , with a proven track record in the heavy - duty commercial vehicle space Announced a 300 - unit Hypertruck ERX product reservation agreement from Detmar Logistics , an industry - leading oilfield logistics company Executive Commentary Continued to execute on the Multi - Phase Product Development Program used to reach commercialization of the Hypertruck ERX powertrain Announced a longer - range all - electric configuration mode that will meet California's Advanced Clean Truck Rule and qualify for ZEV sales credits Improved Hybrid product on track to launch in the latter part of 2021 Strong balance sheet with sufficient liquidity available to fund current commercialization plans for Hybrid and Hypertruck ERX Thomas Healy , Hyliion's Founder and Chief Executive Officer , said , “ After a strong start to the year , our team continues to execute effectively against the timelines for both Hybrid and Hypertruck ERX products . With the unveiling of our improved Hybrid powertrain and the debut of our Hypertruck ERX demo units both scheduled for the third quarter of 2021 , we are at an exciting inflection point in Hyliion's history . " " As we make progress on the commercialization of our Hypertruck ERX , I am very pleased to announce the recent appointment of Dennis M. Gallagher as our Chief Operating Officer who will be responsible for all commercialization efforts within Hyliion . Dennis recently served as President of Jacobs Vehicle Systems , an industry - leading supplier to the heavy - duty commercial vehicle market . He brings over 20 years of tenure at Danaher , where he led various global business units and has a proven track record of commercial and operational excellence . " " Beginning later this year , we plan to take Hypertruck ERX demonstration units on the road to showcase them with our Hypertruck Innovation Council members and other interested fleets . As fleets experience the benefits of our