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Hyliion Holdings Corp. was awarded a cost-plus-fixed-fee contract by the Office of Naval Research (ONR) valued at…
HYLNHyliion Holdings Corp.
Hyliion Holdings Corp. was awarded a cost-plus-fixed-fee contract by the Office of Naval Research (ONR) valued at approximately $42 million. The contract supports the High Efficiency/Low Maintenance Ultra Reliable (HELMUR) Megawatt Scale Power Generation Units program. Hyliion will design, develop, build, test, and deliver 2-megawatt and 3-megawatt power generation units. The project includes advancing core technology, developing alternative components to mitigate magnet supply chain risks, and enhancing additive manufacturing processes. Work is expected to be completed by July 2029 and will primarily occur in Cedar Park, Texas. Hyliion Holdings Corp. provides advanced power and propulsion technology solutions.