Hyliion Holdings Corp. (NYSE:HYLN) stock is trading higher Friday after the company announced its KARNO linear generator is now an eligible technology under California’s Renewables Portfolio Standard (RPS).
The Details: The qualification of Hyliion’s KARNO linear generator as an eligible technology enables the company to play a larger role in achieving California’s climate goals.
California’s RPS requires 60% of retail electricity sales to come from renewable energy sources by the end of 2030 and aims to reach complete carbon neutrality by 2045.
“We believe the KARNO technology holds tremendous potential to deliver clean, efficient power generation urgently needed in today’s growing energy markets,” said Thomas Healy, Founder and CEO of Hyliion.
“California is leading the way in green initiatives, and we are excited to support their energy goals through our cutting-edge technology, helping to create a more sustainable and resilient energy future.”
How To Buy Hyliion Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Hyliion Holdings (NYSE:HYLN)'s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
HYLN Price Action: At the time of writing, Hyliion shares are trading 10.3% higher at $2.61 per data from Benzinga Pro.
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