Genesee-based Generac Holdings Inc. is expanding its energy technology offering through an acquisition, and on July 2 it will acquire the Californian Chilicon Power LLC. Chilicon is a developer and provider of grid-interactive microinverter and monitoring solutions …
City of Genesee-based Generac Holdings Inc. further expands its energy technology offering through acquisitions and acquires the Californian company Chilicon Power LLC on July 2nd
Chilicon is a developer and provider of grid-interactive microinverter and monitoring solutions for the solar power market. The products help convert the electricity from solar panels into electricity that can be used in the home.
The terms of the deal were not disclosed.
"The vast experience and technological expertise of the Chilicon team will drive the continued growth and development of Generac's expanding energy technology solutions," said Aaron Jagdfeld, President and Chief Executive Officer of Generac. "Generac has a proven track record in developing leading energy solutions and we believe that, together with Chilicon, we can replicate that success in the microinverter market."
Generac who also saw Increased demand for its standby generators during the COVID-19 pandemic, kicked off in 2019 with the acquisition of. into the energy storage and monitoring markets Neuro-technology and Pika energy. Following these deals, the company launched PWRcell and PWRview, products that help store and monitor the energy generated by solar panels.
"The addition of Chilicon's rugged microinverter solutions along with Generac's current PWRcell solar and storage product offerings will create one of the most comprehensive product offerings in the household clean energy market," said Russ Minick, President of Energy Technology and chief marketing officer, Generac . "The handover of Chilicon microinverters to our global network of Generac dealers and distributors will strengthen our competitive position in this fast growing market."
Chilicon was founded in 2010. Co-founder Alex Kral said Generac and Chilicon have a "like-minded strategy" in developing products for the solar and storage markets.
"As part of the Generac team, we are able to accelerate our vision for a greener, energy-independent future and bring our microinverter solutions to a significantly larger customer base by leveraging Generac's global distribution network and proven go-to-market strategies," said Christopher Jones, co-founder by Chilicon Power.
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