Hyliion Secures $41.7 Million Navy Contract for KARNO Technology

The U.S. Navy’s Office of Naval Research has tapped Hyliion Holdings for a $41.7 million project to engineer and deploy megawatt-scale power generation systems. This cost-plus-fixed-fee agreement centers on the company’s proprietary KARNO platform, marking a significant expansion of the modular power developer’s role in federal infrastructure.

July 23, 2026, 01:09 AM 1,668 0

The contract mandates the design, construction, and rigorous testing of 2-megawatt and 3-megawatt units, which will be installed at sites selected by the Navy. Hyliion executives signaled that further technical specifics regarding the deployment schedule and site locations will be released in subsequent updates.

Investors responded sharply to the news, pushing company shares up 17% to $4.63 during after-hours trading. This gain adds to a volatile but aggressive year for the stock, which has already more than doubled in value since January.

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