Generac Power Systems Announces the Formation of Grid Services Group
Generac Power Systems (NYSE: GNRC) announced the creation of Generac Grid Services, focusing on providing energy solutions to utilities and energy markets. Bud Vos, former president of Enbala Power Networks, will lead this new group. This initiative aims to deliver economic and environmental value by utilizing Generac's diverse energy products, including home standby generators and storage systems. The formation builds on the October 2020 acquisition of Enbala Power Networks, enhancing Generac's capabilities in distributed energy solutions.
- Formation of Generac Grid Services to enhance market offerings and revenue streams.
- Acquisition of Enbala Power Networks provides advanced capabilities in distributed energy resource management.
- None.
WAUKESHA, Wis., Sept. 8, 2021 /PRNewswire/ -- Generac Power Systems (NYSE: GNRC) today announced the formation of a new group called Generac Grid Services. In addition, Bud Vos, currently president of Enbala Power Networks, a Generac subsidiary, has been named president – Generac Grid Services, and will now report to Aaron Jagdfeld, president and chief executive officer.
Generac Grid Services will provide solutions directly to utilities, grid operators and energy markets, leveraging products from across the enterprise including home standby generators, PWRcell storage systems, industrial natural gas generators and others. This will allow Generac Grid Services to create economic and environmental value by delivering turn-key distributed energy assets to customers, grid operators and energy markets.
"This is another significant step toward our strategic evolution into an energy technology and services company," said Jagdfeld. "The future of energy is quickly changing as consumers look for alternative ways to generate, store, and manage the power they need to help address the challenges associated with an electrical grid that is outdated. Generac Grid Services will enable our company to provide an array of solutions and an entirely new value stream for our customers."
Generac Grid Services was formed primarily through the acquisition of Enbala Power Networks in October 2020. Enbala's Concerto software platform is a vendor-agnostic, open solution for virtual power plants (VPP) and distributed energy resource management systems (DERMS). With the Concerto platform, power-generation and storage products that might otherwise sit idle are now able to be dispatched and orchestrated as part of a distributed energy solution, thereby generating value for the home or business owner while also delivering value to the energy grid.
For more information about Generac Grid Services or other Generac products, visit www.generac.com.
About Generac
Founded in 1959, Generac is a leading designer and manufacturer of energy technology solutions and other power products. As an industry leader serving residential, commercial and industrial markets, Generac's products and solutions are available globally through a broad network of independent dealers, distributors, retailers, e-commerce partners, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.
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SOURCE Generac Power Systems, Inc.
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