Hyliion Holdings shares are trading higher after the company announced it has been awarded a $15 million + contract by the Office of Naval Research to develop its KARNO generator for Navy ships and stationary power applications.
Portfolio Pulse from Benzinga Newsdesk
Hyliion Holdings shares rose after securing a $15 million+ contract from the Office of Naval Research to develop the KARNO generator for Navy ships and stationary power applications.
September 09, 2024 | 12:32 pm
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POSITIVE IMPACT
Hyliion Holdings has been awarded a significant contract worth over $15 million by the Office of Naval Research. This contract is for the development of the KARNO generator, which will be used in Navy ships and stationary power applications. This news has positively impacted Hyliion's stock price.
The contract with the Office of Naval Research is a substantial development for Hyliion, indicating potential revenue growth and increased market credibility. This has led to a positive market reaction, as reflected in the rising stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100