CYN - Cyngn to provide autonomous vehicle tech to a large industrial company stock pops 9%

• Cyngn ( NASDAQ: CYN ) on Tuesday announced it has been awarded a multi-phase contract to implement autonomous vehicle technology by a global, large-cap company in the heavy machinery industry.
• Shares rose as much as 9.1% to $1.20.
• The customer, whose name is being withheld for competitive reasons, is a Global 1000 company that operates in more than 100 countries across multiple industries, Cyngn said.
• Cyngn expects to recognize revenue associated with the contract as it meets future deployment targets.
• Other financial terms of the contract were not disclosed.

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