Hyliion Awarded Government Contract To Create A Megawatt-Scale Concept Of The KARNO Generator Technology For The U.S. Navy
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Hyliion Holdings Corp. (NYSE:HYLN) has been awarded a Small Business Innovation Research (SBIR) government contract by the U.S. Navy to create a megawatt-scale concept of its KARNO generator technology. This Phase 1 contract will allow Hyliion to design a modular generator system that meets the Navy's specifications for Unmanned Surface Vessels (USVs).
August 08, 2024 | 12:58 pm
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Hyliion Holdings Corp. has been awarded a government contract by the U.S. Navy to develop a megawatt-scale concept of its KARNO generator technology. This contract could enhance Hyliion's reputation and lead to future revenue opportunities.
The government contract with the U.S. Navy is a significant achievement for Hyliion, showcasing its technology and potentially leading to future revenue streams. This positive development is likely to boost investor confidence and the stock price in the short term.
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