Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in sustainable electricity-producing technology, today announced the signing of a non-binding Letter of Intent (LOI) with ANA Inc., a leading provider of innovative and reliable solutions in the mobile industrial equipment industry. ANA plans to procure up to six KARNO™ generators and launch a pilot trial with their customers in the mobile power generation application. The initial deployment will feature one 200kW unit in 2025, with plans to expand to five additional 200kW units across multiple sites following successful validation.
ANA Inc. is one of the top providers of rental equipment with a focus on high-performance generators, compressors, and energy solutions. Recognized as one of the 5000 fastest-growing private companies in the United States, ANA is known for its commitment to innovation and excellence. Mike Niemela, CEO of ANA, stated, "We are excited to pilot Hyliion’s innovative KARNO generator as we continue to provide our customers with reliable and efficient power generation solutions. The KARNO generator’s advanced technology aligns with our mission to deliver cutting-edge, sustainable energy solutions and complements our product portfolio that empowers our customers to achieve greater efficiency in their operations."
The KARNO generator is a groundbreaking linear power generator system powered by heat and advanced through 3D metal printing. With a hermetically sealed design that includes only one moving part per shaft, the generator is engineered for long, low maintenance operation. Its high efficiency, minimal maintenance needs, and quiet operation make it particularly well-suited for mobile applications, with the flexibility to operate on over 20 different fuels, including natural gas.
"Partnering with ANA as our key strategic customer in the mobile rental industry to deploy the KARNO generators in a hybrid configuration marks a significant milestone in bringing our innovative technology to the market. ANA’s expertise in the mobile power market, combined with their commitment to efficiency and sustainability, makes them an ideal partner as we integrate our KARNO generators into their product lineup to address application-specific needs," said Thomas Healy, Founder and CEO of Hyliion.
The partnership between Hyliion and ANA is subject to the execution of a binding agreement, covering volume thresholds, primary responsibilities, and potential commitment to partner with each other exclusively on hybrid power generation solutions for rental market.
