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Thomas Healy, founder and CEO of Hyliion, discussed his company's pivot from electric vehicles to power generation, emphasizing the need for distributed electricity generation to support AI and data centers. He highlighted Hyliion's technology that can run on over 20 fuels and is being deployed for the US military, including a power plant on the USX1 Defiant unmanned ship. Healy noted the company's market cap growth from about $100 million to over $1 billion, and mentioned $400 million in signed agreements, with expectations of an additional $40-50 million in military contracts this year. He argued that the US is lagging in power generation compared to China, which added 500 gigawatts last year versus 50 in the US, and stressed the importance of on-site power for hyperscalers and other customers.
Key takeaways
Hyliion has $400 million in signed agreements or contracts, with plans to deploy and grow the backlog.
Hyliion expects to sign another $40-50 million in military contracts this year.
Hyliion's market cap grew from about $100 million to over $1 billion after pivoting to power generation.
China added 500 gigawatts of electricity generation last year, while the US added only 50, a 10x gap.
Hyliion's technology is being used on the USX1 Defiant, a 200-foot unmanned autonomous ship for the US Navy.
As you think about data centers, as you think about the US military, they need more power and we are a new way of producing electricity. It can feed it over 20 different fuels, nat gas, hydrogen, diesel, propane, and then we will actually provide you the electricity out of the system. Compact box that can go on site for distributed power generation. So it's this concept of make your own electricity.
We're here at the All-in Liquidity Summit in Napa Valley, California and I'm pleased to be joined by Thomas Healy. He's the founder and CEO of Hyliion. Thomas, welcome.
So we're here meeting with potential investors, meeting with strategic partners. The nice thing is everyone needs power. That is a huge theme of this conference. We're talking about AI, data centers and then the next step is, well, where's the electricity coming from? And that's what we do. We make electricity and so we're chatting with a bunch of interested groups here.
It's absolutely beautiful here in California in the valley. What's the sentiment though that you're gathering among those conversations with investors and potential partners?
Sentiment is definitely exciting times ahead. Just the panel I was just listening into was talking about we need a trillion dollars of investment into the grid. We need a trillion dollars of investment into data centers, into chips and it just went on and on of all these investments that need to be made because there's a lot of momentum and excitement into these new technologies that are coming out and the reality is they need infrastructure behind them in order to make them successful and so lots of investments going on and I think overall very bullish about times in the near future here.
Yeah, so we do power generation. We've fundamentally actually invented a new way of making electricity, which is really cool and exciting. But as you think about data centers, as you think about the US military, they need more power and we are a new way of producing electricity. You can feed it over 20 different fuels, nat gas, hydrogen, diesel, propane, and then we will actually provide you the electricity out of the system. Compact box that can go on site for distributed power generation. So, it's this concept of make your own electricity.
Yeah. Last time we spoke, we were actually an electric vehicle company. We were producing electric semi trucks. And 2023 time frame, we saw the writing on the wall that industry was struggling and we acquired a division out of GE Aerospace. That was this power gen technology. We decided to pivot the company out of EVs into power gen and that's what we're focused on now and we've taken the company from at the low point, we're at about a 100 million market cap and now we're north of a billion and on this trajectory to really go disrupt power generation.
Yeah, it's fundamental, right? Everything is based around energy and being able to power these systems, right? So, as you think about AI when it was kind of the hot topic maybe 2 years ago is when it really started picking up. Everyone started focusing on, well, where are these chips coming from and are we going to have availability of chips?
That then went to a point now where companies are buying chips and actually storing them in warehouses, not even bringing them online because we actually have excess chips and we're lacking power. So, now we're kind of getting to layer number two, which is, well, how are we going to power all of these chips to really win this AI race? And the reality is we're not winning right now. So, as you look at China, China added about 500 gigawatts of electricity generation to their grid last year. We added 50. So, China 10x'd us last year and this is what everyone's talking about that powers who's going to win this race and so we need to make a lot more electricity in this country.
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Healy, T. (2026, June 16). All-In Liquidity: Hyliion CEO Thomas Healy Shares its Stance on Reliable Energy [Interview transcript]. New York Stock Exchange. CEOInterviews.AI. https://ceointerviews.ai/interview/1166521/
MLA
Thomas Healy. "All-In Liquidity: Hyliion CEO Thomas Healy Shares its Stance on Reliable Energy." New York Stock Exchange, 16 Jun. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1166521/.
BibTeX
@misc{healy2026_1166521,
author = {Thomas Healy},
title = {All-In Liquidity: Hyliion CEO Thomas Healy Shares its Stance on Reliable Energy},
howpublished = {Interview transcript, New York Stock Exchange. CEOInterviews.AI},
year = {2026},
month = {jun},
url = {https://ceointerviews.ai/interview/1166521/},
note = {Speaker-attributed transcript with timestamps}
}
