Hyliion Awarded $42 Million U.S. Navy Contract for Power Generation Technology

Hyliion Holdings Corp. announced it has been awarded an approximately $42 million cost-plus-fixed-fee contract by the U.S. Office of Naval Research (ONR). The contract is to develop and deliver megawatt-scale power generation units for a naval research program.

Key Details

• Contract Value: Approximately $42 million for a 36-month base period.
• Scope: Hyliion will design, build, test, and deliver 2-megawatt and 3-megawatt power generation units. The work also includes advancing core technology and developing alternative components.
• Timeline: Work is expected to be completed by July 2029, with funding already obligated from fiscal years 2025 and 2026.