Mentioned:
The United States Navy wants in on fuel-agnostic power generators. Which is exactly why they’ve just awarded a new contract to a publicly traded company.
What’s happening:
- Hyliion (NYSE: HYLN) has been awarded a $41.7M USD contract from the United States Navy’s Office of Naval Research to design, develop and deliver two multi-megawatt KARNO Power Modules
Why it matters:
- This is the single largest military contract that has ever been awarded to Hyliion
Going deeper:
- Hyliion's KARNO Power Modules are fuel-agnostic and are designed to turn any heat source into electricity using a sealed linear generator that runs on natural gas, hydrogen, ammonia and even landfill gas
- Hyliion will construct two KARNO Power Modules at 2 megawatt and 3 megawatt scale to deliver to the United States Navy as part of the new contract
The fine print:
- Hyliion's contract from the Office of Naval Research is a cost-plus-fixed-fee contract to validate that KARNO Power Modules can deliver power in both land and maritime applications
