Generac Strengthens Microgrid and Energy Storage Solutions with Acquisition of Ageto
Tuesday, August 13, 2024
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.
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