May. 12 at 11:04 PM
$HYLN Successfully completed non-recurring UL certification testing of the KARNO Power Module, a key milestone for enabling customer site deliveries
Executed an LOI with advanced data center developer VFG Holdings for up to 250 KARNO Cores, or 50 megawatts, targeted over five years
Nearly 750 KARNO Cores under non-binding letters of intent, representing more than
$400 million of potential revenue at current pricing
On track to complete the deployment of the approximately 10 early adopter units in 2026 and commercialize the KARNO Power Module by year end
Commenced build of an 800-kilowatt KARNO system for an unmanned U.S. Navy vessel, the same platform to be used in multi-megawatt systems for data center applications
Reaffirming
$40 to
$50 million in expected additional U.S. military contracts during 2026
Demonstrated dynamic in-operation fuel switching across diesel, natural gas, and hydrogen on a single KARNO reactor
Recorded first-quarter revenue of
$2.8 million, up fourfold from Q4.
