11:57 AM EDT, 08/08/2024 (MT Newswires) -- Hyliion Holdings ( HYLN ) said Thursday it received a contract from the US Navy to outline a design concept of its Karno generator technology in a megawatt-scale modular system.

The contract's phase 1 will allow the company to create a preliminary design of a modular generator system that integrates the Navy's specifications with the Karno technology, the company said.

The system will help meet the US government's unmanned surface vessel cross-platform requirements, Hyliion ( HYLN ) said.

Hyliion ( HYLN ) shares were up by nearly 14% in recent trading.

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