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Generator maker ANA has raised $50 million in growth funding to expand its hybrid power system, the company tells Axios. 

Why it matters: Climate investors are searching for companies like ANA, which have a big customer base and strong unit economics.

Zoom in: ANA, based in Henderson, Nevada, raised the funding from S2G Investments, a Chicago-based sustainable investing firm. 

ANA CEO and co-founder Mike Niemela said that the funding will be used to fulfill large orders and buy inventory. 

The funding will also help the company invest in product development and reduce the cost of its hybrid power unit.

How it works: ANA's hybrid power product, called EBoss, combines a diesel generator with batteries and can lower fuel use by 75% and emissions by 65%, as well as extend the life of the generator. 

Niemela said the small battery is key to helping customers get up to a 25% return on investment, saving money through lowered diesel use. The hybrid product will make up about half of the company's business this year.

ANA sells the hybrid unit, as well as its traditional generators, to equipment rental firms that rent gear to industries like construction, telecom, industrial and utilities. 

Zoom out: The mobile power industry has been a tough one for startups. 

Last year, Moxion Power went bankrupt after running out of cash. 

Niemela says that Moxion's units, which were battery-only, had a much lower return to customers than ANA's hybrid diesel battery units.

What's next: ANA plans to build out its manufacturing capacity at its headquarters in Nevada. 

Exclusive: Mobile power company ANA raises $50M from S2G

The deal highlights climate investors' search beyond the green premium.

ANA's hybrid mobile power units use diesel and batteries for offgrid power

ANA's hybrid diesel and battery mobile power unit, called EBoss. Photo: Courtesy of ANA

Generator maker ANA has raised $50 million in growth funding to expand its hybrid power system, the company tells Axios. Why it matters: Climate investors are searching for companies like ANA, which have a big customer base and strong unit economics.

Exclusive: Mobile power company ANA raises $50M from S2G

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