Hyliion wins $41.7M Navy contract for KARNO power modules

Hyliion Holdings Corp. (NYSE American: HYLN) has been awarded a $41.7 million contract from the Office of Naval Research (ONR) to design, develop, and deliver two multi-megawatt KARNO Power Modules for validation in land and maritime applications at NAVSEA, Philadelphia.

According to the company, this is its largest military contract to date. The award brings Hyliion's cumulative ONR funding to more than $58 million.

Under the contract, Hyliion will develop and deliver two KARNO Power Modules rated at 2+ MW and 3+ MW scale. The systems build on the company's existing modular 800 kW architecture.

"This contract accelerates the development of our multi-megawatt KARNO systems and expands the range of naval platforms the technology can support," said Thomas Healy, Founder and CEO of Hyliion. "The Office of Naval Research has been a tremendous partner in advancing the KARNO technology, and their continued investment reflects the confidence they have built in both our team and the platform."

The modules are intended for validation in both land and maritime applications. Hyliion is headquartered in Austin, Texas, with research and development operations in Cincinnati, Ohio.

This article is based on a press release issued by Hyliion Holdings Corp.

You May Also Be Interested In

• TOP Financial Group moves global headquarters to Houston, Texas
• Horizon Aircraft names Tom Hearne to board and audit committee chair
• Vaxcyte names new CMO, CLO and narrows VAX-31 data timeline