WAUKESHA, Wis., Jan. 16, 2019 /PRNewswire/ — In 1959, with just five employees in a barn in Wales, Wis., Robert D. Kern began manufacturing generators based upon his own unique designs. Sixty years later, the company he founded — Generac Power Systems — is a leading, diversified global supplier of backup and prime power products. Today, Generac is officially kicking off a year of diamond anniversary celebrations.
“Bob Kern has been and continues to be an inspiration to us at Generac,” said Aaron Jagdfeld, president and CEO, Generac. “He has often remarked to me how the company has grown to exceed his wildest dreams. This year, we are proud to celebrate the foundation he built here in Waukesha, which has led to the bright future we see as innovators and market leaders in power generation and outdoor power equipment around the world.”
Those first generators enjoyed wide success via a partnership with a variety of retailers — a relationship that lasted several decades. Generac continued to innovate its portable generators, and in 1989, launched the first ever automatic home standby generator. It was a move that created a market segment — of which Generac remains the clear leader.
“Generac created the market for home standby generators,” Jagdfeld said, “and today seven out of every 10 home standby generators sold is a Generac. It’s an incredible legacy, and one we celebrate every day — not just during anniversary years. In fact, a few years ago, our one millionth home standby unit rolled off the assembly line. We’re proud to bring peace of mind to customers across the country — and around the world — from our home in Wisconsin.”
Generac’s product offerings have expanded over the years in response to customers’ growing expectations and evolving industry opportunities. Today, customers can look to Generac for commercial and industrial generators up to 2 MW; light towers and mobile generators serving rental as well as oil and gas markets; and chore products, such as trimmers, mowers and log splitters.
Generac will celebrate its 60th Anniversary with year-long commemorative events.
WAUKESHA, Wis., March 13, 2019 (GLOBE NEWSWIRE) — Generac Holdings Inc. (NYSE: GNRC), a global leader in the design and manufacture of a wide range of residential, commercial and industrial power products, announced today the signing and closing of a purchase agreement to acquire Neurio Technology Inc.
Neurio, founded in 2005 and headquartered in Vancouver, British Columbia, is a leading energy data company focused on metering technology and sophisticated analytics to optimize energy use within a home or business. Neurio’s hardware and software solutions equip users with the intelligence to manage and control electrical loads, solar systems and batteries to optimize energy consumption and increase savings.
“The addition of Neurio’s data expertise, devices and advanced technologies will help us strengthen our home energy management capabilities and accelerate our efforts around connectivity and remote monitoring… all of which are critical parts of our “Powering Our Future” strategy,” said Russ Minick, Generac’s Chief Marketing Officer. “Customers using Neurio’s technology get real-time access to their power consumption data and have the ability to make informed decisions that allow them to save on their energy use.”
“The combination of Neurio’s intelligent energy management technology with Generac’s products, distribution, and market creation capabilities will create tremendous opportunities in how energy is used and managed in a home,” commented Keith Marett, CEO of Neurio. “We are excited about joining the Generac family to accelerate our efforts to bring these solutions to a broader market.”
About Generac (NYSE: GNRC)
Founded in 1959, Generac is a leading designer and manufacturer of a wide range of power generation equipment and other power products. As a leader in power equipment serving residential, light commercial and industrial markets, Generac’s power products are available globally through a broad network of independent dealers, distributors, retailers, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.
About Neurio Technology Inc.
Neurio is a leading energy data company focused on developing fully-integrated software, hardware and data science elements to support energy monitoring and management. The company’s unique solutions provide customers with the ability to optimize energy consumption and reduce energy-related costs. For additional information, visit www.neur.io/.
Forward-looking Information
Certain statements contained in this news release, as well as other information provided from time to time by Generac Holdings Inc. or its employees, may contain forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Forward-looking statements give Generac’s current expectations and projections relating to the Company’s financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “forecast,” “project,” “plan,” “intend,” “believe,” “confident,” “may,” “should,” “can have,” “likely,” “future,” “optimistic” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Any such forward looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. Although Generac believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Generac’s actual financial results and cause them to differ materially from those anticipated in any forward-looking statements, including:
frequency and duration of power outages impacting demand for our products;
availability, cost and quality of raw materials and key components and labor needed in producing our products;
the impact on our results of possible fluctuations in interest rates, foreign currency exchange rates, commodities, product mix and regulatory tariffs;
the possibility that the expected synergies, efficiencies and cost savings of our acquisitions will not be realized, or will not be realized within the expected time period;
the risk that our acquisitions will not be integrated successfully;
difficulties we may encounter as our business expands globally;
our dependence on our distribution network;
our ability to invest in, develop or adapt to changing technologies and manufacturing techniques;
loss of our key management and employees;
increase in product and other liability claims or recalls;
failures or security breaches of our networks or information technology systems; and
changes in environmental, health and safety, or product compliance laws and regulations affecting our products or operations.
Should one or more of these risks or uncertainties materialize, Generac’s actual results may vary in material respects from those projected in any forward-looking statements. A detailed discussion of these and other factors that may affect future results is contained in Generac’s filings with the U.S. Securities and Exchange Commission (“SEC”), particularly in the Risk Factors section of the 2018 Annual Report on Form 10-K and in its periodic reports on Form 10-Q. Stockholders, potential investors and other readers should consider these factors carefully in evaluating the forward-looking statements. Any forward-looking statement made by Generac in this press release speaks only as of the date on which it is made. Generac undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
In December of 2018 Kohler introduced hurricane-rated enclosures for their standby generators:
KOHLER INTRODUCES HURRICANE-RATED ENCLOSURES FOR INDUSTRIAL GENERATORS
New options meet strict wind and projectile-impact requirements; maintain standard lead times
KOHLER is pleased to introduce new hurricane-rated enclosures for its comprehensive lineup of industrial generators. The durable aluminum enclosures meet the most stringent and widely recognized Testing Application Standards (TAS) within the Florida Building Code for wind load and projectile impact – TAS 201, TAS 202, and TAS 203. As an added benefit, the new hurricane-rated enclosures are factory designed and built, allowing KOHLER to deliver the units within the company’s standard lead times.
“Building these new hurricane-rated enclosures in our factory is a significant advantage – it allows us to ship faster while also offering our customers the cost savings and peace-of-mind that comes with a fully-integrated KOHLER power system,” said Beth Splittgerber, product manager for KOHLER industrial generators. “The same engineering team that designed your new KOHLER generator also designed the enclosure, ensuring it will meet the exact specifications of the complete power system. For example, these enclosures maintain UL2200 compliance without the need for additional onsite certification, which can be a costly and time-consuming process.”
The new hurricane-rated enclosures are an ideal option for a broad range of KOHLER gas and diesel industrial generators. The entire enclosure was subjected to severe wind and impact testing and received TAS 201 Level E Certification, the highest available designation for projectile/missile impact. The testing was completed at a TAS accredited test lab and certification letters for the product were issued by a certified Florida P.E.
“We anticipate a very strong response to our new hurricane-rated enclosures from senior living communities and other healthcare facilities located near the U.S. Gulf and Atlantic coasts,” Splittgerber added. “But, these enclosures are really a great solution anywhere an extreme level of protection against high winds and potential storm damage is valued. A power system is a mission-critical asset and it’s imperative to keep it operational for the health and safety of individuals or the viability of a business. We’re offering these new enclosures to give our customers the security to rest easy knowing their power system will be ready-to-go when it’s needed the most.”
The hurricane-rated enclosures are available now on qualifying new KOHLER aluminum enclosure orders.
A global force in power solutions since 1920, KOHLER manufactures complete power systems, including generators (portable, marine, residential, commercial and industrial), automatic transfer switches, switchgear, monitoring controls, and accessories for emergency, prime power and energy-management applications all around the world. The company is committed to reliable, leading edge power-generation products as well as comprehensive after-sale support.