Chairman Carter, Ranking Member Werman Schultz, and distinguished members of the subcommittee. Thank you for having me here today. I'd like to start off with a question. What if our military could produce electricity through a mobile generator that provided better electricity than even the US grid? Well, I'm here today to introduce a new superior power generation technology, one that's reliable, efficient, fuel flexible, and mobile. I founded Hyliion out of my dorm room at Carnegie Mellon, and it's been an American startup story. We took the company public on the New York Stock Exchange in 2020. We raised over 700 million of capital, and we've begun delivering our Carno modular power plant, which we believe will fundamentally change how electricity is produced. If there are three key things to remember about what we're doing, it's first that it's one solution that can be used across all applications. Second is it offers fuel flexibility, reliability, and the performance the military needs. And the third is it's manufactured through 3D printing which enables us to make it here in the US. So let's go back to that first point about one solution across all applications.
What if military vessels, autonomous vessels, what if bases, what if vehicles could all use the same power generation solution, leveraging the same parts and the same service across all applications. The Carno generator is designed to be scalable as well, starting with a 200 kW base unit that then can be stacked together to deliver multi-megawatts for military bases. That base unit, just for reference, is about the size of a bed of a pickup truck. So, it's extremely compact. This vision is already becoming a reality. We actually just delivered our first unit to the Navy, and they're going to not only be testing it for autonomous vessels, but they're also going to be testing it for stationary applications. The second point I made was why Carno? So, this is a fuel agnostic solution. It can operate on over 20 different fuels including diesel, natural gas, propane, JP8. So imagine if our troops are deployed somewhere in the world where it's kind of unsure of what fuel they're going to have available to them and it's unsure if that fuel is even contaminated. Our technology eliminates those concerns because now the system you start feeding it fuel and it will sense what fuel it's receiving, adjust accordingly and deliver electricity.
Now reliability is also key. So this system's designed with only one moving part and even that part glides on gas bearings. It's similar to like an air hockey table. So that eliminates the need for oils, eliminates maintenance or substantial maintenance and eliminates lubricants. So as you think about like autonomous vessels where there isn't anyone on board to actually maintain the engines, reliability is critical. Additionally, we want to look at efficiency. So the Carno generator when you compare to the grid, the grid is about 36% efficient. So you know your standard wall outlet, the Carno generator will be able to deliver efficiencies up to 50%. That means that we're going to use less fuel to make the same amount of power. Now it does all these things while also having a very low noise profile. It's similar noise level. It's like an air conditioning unit. And it also has a low heat profile, meaning the system is less detectable. Any one of these advantages alone could convince you to move away from diesel generators. But we've been able to package all this into one solution, our Carno generator. So the question comes up of like, well, why hasn't this been done before? And that brings me to my third key point, which is 3D printing.
So if you go back 200 years ago, there were steam engines. There were diesel engines. There was this thing called a Stirling. Engineers always knew that Stirlings could be or would be the most efficient way of making power, but you could never manufacture a Stirling. Fast forward to today, thanks to advancements in 3D printing, we're able to make parts like this one here that are extremely complex, allow us to unlock efficiencies that now make Stirlings a reality, or as we like to call it, the Carno generator. So, I think this is going to be passed around. So, I want to be transparent with where we are in this process. As I shared, we just delivered our first unit to the Navy and we have other early adopter customer units planned through the middle of this year. We believe the system will deliver everything I've shared today, but we are still in the final stages of development. We're testing the system and continuing to refine it. So, as we go forward, we'd like to expand our relationship with the military, especially as we start scaling. We've already set up manufacturing both near Austin, Texas, as well as in Cincinnati, Ohio, and so that is going to ensure that this is domestically produced. Chairman Carter, Ranking Member Werman Schultz, and distinguished members of the committee. Our military has been known for having the best technology and we need to make sure that remains true for power generation as well. With Hyliion's Carno power plant, we're delivering the three key things that are important. It's one solution that can be used across all applications. It offers fuel flexibility and reliability as well as it's made here in the US thanks to 3D printing. Thank you.
