Hyliion wins $41.7M Navy contract for KARNO power systems

Hyliion Holdings Corp. (NYSE American: HYLN) has been awarded a $41,699,946 cost-plus-fixed-fee contract by the Office of Naval Research, according to a press release from the Austin, Texas-based company.

The contract covers the design, development, construction, testing, and delivery of 2-megawatt and 3-megawatt KARNO power generation systems at locations designated by the Office of Naval Research.

Hyliion said it expects to provide additional details about the contract shortly.

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