Generac Strengthens Microgrid and Energy Storage Solutions with Acquisition of Ageto

Rhea-AI Summary

Generac Power Systems (NYSE: GNRC) has acquired Ageto, a leading provider of microgrid controllers for the commercial & industrial (C&I) market. The acquisition, closed on August 1, 2024, strengthens Generac's microgrid and energy storage solutions. Ageto's technology seamlessly integrates and manages distributed conventional resources, renewable energy resources, and EV chargers.

Erik Wilde, EVP and president of Domestic C&I at Generac, stated that this acquisition enhances their ability to offer a complete energy technology ecosystem to domestic C&I customers with multi-asset sites. The integration of Ageto's microgrid controller and advanced software into Generac's systems simplifies asset integration, control, and optimization for customers, creating a competitive advantage for Generac.

Positive

• Acquisition strengthens Generac's microgrid and energy storage solutions
• Enhances Generac's ability to offer complete energy technology ecosystem to C&I customers
• Simplifies asset integration, control, and optimization for customers
• Creates a competitive advantage for Generac in the energy technology market
• Provides site-level system integration and control versus hardware only

Negative

• None.

WAUKESHA, Wis., Aug. 5, 2024 /PRNewswire/ -- Generac Power Systems (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced the acquisition of Ageto, a leading provider of microgrid controllers that seamlessly integrate, optimize and manage distributed conventional resources, renewable energy resources and electric vehicle (EV) chargers in the commercial & industrial (C&I) market. The transaction closed on August 1, 2024. Terms of the deal were not disclosed.

"This acquisition enhances our ability to offer a complete energy technology ecosystem to domestic commercial & industrial customers with multi-asset sites," said Erik Wilde, EVP and president, Domestic C&I at Generac. "By integrating Ageto's industry-leading microgrid controller and advanced software into our systems, we're simplifying asset integration, control and optimization for our customers and creating a competitive advantage for Generac."

Generac has worked with Ageto since 2021, incorporating their microgrid controllers into Generac's Battery Energy Storage Systems (BESS) solutions and generator sets.

Ageto's microgrid controller helps enable users to coordinate, optimize, and monitor all components of their microgrid from one simple interface. Combining Ageto's software solution with Generac's BESS and microgrid multi-asset systems provides site-level system integration and control versus hardware only.

About Generac
Generac Power Systems (NYSE: GNRC) is a leading energy technology company that provides backup and prime power products and energy storage systems for home and business applications, as well as energy monitoring and management devices and services, along with other power products. Founded in 1959, Generac introduced the first affordable backup generator and later created the automatic home standby generator category. The Company has continued to expand its energy technology offerings in its mission to lead the evolution to more resilient, efficient, and sustainable energy solutions.

Media Contact: Jonathan Stern
Jonathan.Stern@Generac.com 

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SOURCE Generac Power Systems, Inc.

FAQ

When did Generac acquire Ageto?

Generac acquired Ageto on August 1, 2024.

What does Ageto's technology do for Generac (GNRC)?

Ageto's microgrid controllers integrate and manage distributed conventional resources, renewable energy resources, and EV chargers, enhancing Generac's microgrid and energy storage solutions.

How will the Ageto acquisition benefit Generac's (GNRC) customers?

The acquisition will simplify asset integration, control, and optimization for Generac's customers, offering a complete energy technology ecosystem for multi-asset sites in the commercial & industrial market.

What is the strategic importance of the Ageto acquisition for Generac (GNRC)?

The acquisition creates a competitive advantage for Generac by enhancing its ability to offer a complete energy technology ecosystem and providing site-level system integration and control.