Latest news with #military applications
Yahoo
a day ago
- Automotive
- Yahoo
US Navy Awards Hyliion (HYLN) $1.5 Million Contract for Multi-Megawatt Power Module
Hyliion Holdings Corp. (NYSE:HYLN) is one of the best EV penny stocks to buy according to hedge funds. On July 17, the US Navy awarded Hyliion a Phase II Small Business Innovation Research (SBIR) contract worth $1.5 million. The purpose of the agreement is for Hyliion to advance development of its scalable multi-megawatt KARNO Power Module platform for shipboard and stationary military applications. This Phase II contract follows the successful completion of Phase I, in which Hyliion completed the initial concept design and architectural planning for a naval-compliant, multi-megawatt power generator system. The Phase II project will focus on several key areas, including: development of integrated software and power electronics to manage and synchronize multiple KARNO Cores for stable, dynamic power delivery in high-demand environments; improvements to motion control and communication systems essential for scalable operation; refinement of integrated drive electronics to meet Navy requirements for size, weight, power, and cost (SWaP-C); and alignment of control schemes and system design with naval operating standards. The program will run for 18 months and will support both shipboard and stationary defense operations. It is expected to leverage learnings relevant to Hyliion's commercial 2MW product roadmap. Hyliion Holdings Corp. (NYSE:HYLN), headquartered in Austin with R&D in Cincinnati, is developing clean and flexible power solutions for electric mobility. While its core technology centers on distributed generators using multiple fuel sources, the company is expanding into mobile applications, including electric vehicles and marine transport. Targeting commercial and waste management fleets, Hyliion aims to deliver practical EV power systems that offer both environmental benefits and operational efficiency. Its approach blends innovation with adaptability to meet the evolving demands of the energy and transportation sectors. While we acknowledge the potential of HYLN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Performing Crypto Stocks So Far in 2025 and 10 Best Low-Risk Index Funds to Buy Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
11-07-2025
- Business
- Yahoo
Pentagon Buys Rare Earths Stake to Tackle China's Dominance
(Bloomberg) -- The US made its biggest move yet to push back against China's weaponization of rare earths, with the Pentagon buying into a key American producer to secure supply of magnets critical for military and other applications. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Why Did Cars Get So Hard to See Out Of? Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? How German Cities Are Rethinking Women's Safety — With Taxis The Department of Defense agreed a $400 million equity investment in MP Materials Corp., the company that revived a dormant mine in California. Together with $1 billion in funding from JPMorgan Chase & Co. and Goldman Sachs Group Inc., the commitment will fund a major new plant making rare-earth magnets. MP's shares soared as much as 60% in New York, while other rare earths firms also spiked on the prospect of government underwriting for the industry. Australia's Lynas Rare Earths Ltd., which is building a refinery in Texas, rose as much as 20% — the most in more than five years. 'The scale of the US commitment underscores the strategic importance of rare earth magnets, and directly counters China's rare earth dominance,' Jefferies LLC analysts wrote in a note. The US has long been reliant on China for rare earths — something the Asian country used to its advantage in responding to the trade war initiated by President Donald Trump. China leveraged its dominance of the supply chain to retaliate against American tariffs with export controls, adding impetus to US efforts to build up a domestic alternative. China produces about 90% of the world's rare-earth permanent magnets, tiny but powerful products that are used in cars, wind turbines and fighter aircraft. Ford Motor Co. had to cut output at one of its plants after Beijing's moves, and the curbs have deepened tensions with the European Union. MP Materials operates the sole US rare earth mine at Mountain Pass in California, and is already developing a magnets factory. The new funding will support a second magnet manufacturing plant, called the 10X Facility, at a 'soon-to-be-chosen' location, the company said in a statement. New Baseline With the purchase of a 15% stake, the Pentagon will become MP's largest shareholder. The Pentagon also agreed to purchase any of the plant's neodymium-praseodymium products at a floor price of $110 per kilogram. The new facility is expected to begin commissioning in 2028, the company said, and will boost US magnet output to 10,000 tons a year. 'While critics argue such intervention may distort markets, US policymakers view it as correcting an already distorted system,' Jefferies said. 'This framework could become the new baseline for rare earth economics in the West, spurring further investments across the supply chain.' The direct participation of the Department of Defense, together with the supply arrangements, potentially opens up a new era for rare earths and other critical minerals industries. 'I think its a pretty unprecedented situation and I think that this is obviously a very unique circumstance,' Jim Litinsky, the CEO of MP Materials, said in an interview with Bloomberg Television. 'DoD and the administration realize that we've got to look at the supply chain holistically, and hopefully this is a model for future other scenarios where we have strategic industries that we have to return.' --With assistance from Joe Deaux and Paul-Alain Hunt. (Updates throughout to include additional context and comments from Jefferies and MP Materials) Trump's Cuts Are Making Federal Data Disappear Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom Soccer Players Are Being Seriously Overworked ©2025 Bloomberg L.P. Sign in to access your portfolio
