Barclays Capital Inc. served as exclusive M&A advisor to Tortoise Acquisition Corp. Barclays Capital Inc. and Goldman Sachs & Co. LLC served as joint-placement agents on the PIPE offering. Courtesy Hyliion.
Completion of the proposed transaction is subject to customary closing conditions and is expected to be completed around the end of the third quarter of 2020.
Our strategy has been to combine with a company to take advantage of the global opportunities created by the energy transition including clean energy generation and storage, alternative fuels and transportation, technological advances and changes in energy policies. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov.
Hyliion is an American company which specializes in Class 8 electrification. It designs and develops hybrid suspension systems and electrified powertrain solutions for Heavy Duty Class 8 trucks from commercial vehicle manufacturers. Healy will continue as CEO of the combined company, overseeing the implementation of Hyliion’s corporate strategy. Tortoise Acquisition Corp. (NYSE: SHLL) is a special purpose acquisition company formed for the purpose of effecting a merger, stock exchange, acquisition, reorganization or similar business combination with one or more businesses.
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“We are building solutions that are available today and address the immediate needs of today’s trucking fleets,” said Thomas Healy, CEO and founder of Hyliion. SPang@tortoiseadvisors.com.
Hyliion’s mission is to eliminate the carbon intensity and reduce the greenhouse gas emissions of commercial transportation Class 8 vehicles by being the leading provider of electrified powertrain solutions. Headquartered in Austin, Texas, Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of commercial transportation Class 8 vehicles by being the leading provider of electrified powertrain solutions. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Tortoise Acquisition Corp.'s SEC filings are available publicly on the SEC’s website at www.sec.gov. That’s why we designed the CNG Hybrid system,” said Thomas Healy, CEO and founder of Hyliion. For Hyliion:
To listen to the prepared remarks via telephone dial 877-407-9210 (U.S.) and an operator will assist you. [2], Having announced capabilities of attaining a net negative carbon footprint[3], Hyliion aims to transform the transportation industry’s environmental impact at scale.
512-662-7078, For Tortoise Acquisition Corp.: AUSTIN, Texas & LEAWOOD, Kan.--(BUSINESS WIRE)--Hyliion Inc., a leader in electrified powertrain solutions for Class 8 commercial vehicles, announced today it intends to merge with Tortoise Acquisition Corp. (NYSE: SHLL), a publicly traded special purpose acquisition company with a strategic focus on the energy sector and decarbonizing commercial transportation in North America. It designs, develops and sells electrified powertrain solutions for Heavy Duty Class 8 trucks from any of the leading commercial vehicle manufacturers, transforming the transportation industry’s environmental impact at scale.
Security holders of Tortoise Acquisition Corp. are urged to read the proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations.
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